Holistic attribution is a must if companies want to understand the incremental effects of their marketing efforts on business KPIs. But how do firms balance business KPIs with their channel-level ones? We share tips and best practices.
As more companies look to attribute their marketing efforts holistically, marketers must inevitably meet both company- and channel-specific objectives.
Why is it important for marketers to balance both channel-specific and company-level KPIs? Holistic attribution is defined as the ability to understand how marketing and nonmarketing touchpoints influenced a specific business outcome. But to meet that company-level goal, marketers must typically optimize and modify their efforts at the channel level. In this regard, it’s not unlike an orchestra: To make beautiful music, players must do their best as individuals, as well as keep time with other members.
How are companies balancing both KPI types today? Companies best equipped to navigate both sets of metrics have commonalities: They have built models that account for both types of KPIs, they believe the models (with a healthy dose of skepticism), and they understand the insights generated by those models—regardless of their level within their organization.
How do companies benefit from aligning company objectives with channel-level objectives? The advantages of holistic attribution done right are greater transparency into channel-level performance and smarter budgeting and forecasting capabilities.
WHAT’S IN THIS REPORT? This report discusses how companies are balancing company-level and channel-level KPIs. It highlights key questions marketers must ask to successfully do so and emphasizes the benefits of making this advanced attribution effort work.
KEY STAT: Many marketers use both company-level metrics (e.g., revenues and customer loyalty) and channel-level metrics (e.g., clicks and opens) to measure marketing success.
This report is the second in a two-part series. Part 1, which addresses where attribution practices are today and how marketers can improve their efforts across the organization, can be accessed here: “Advancing Marketing Attribution: A Companywide Blueprint for Success.”
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Managing Director, Accenture Digital, Spain, Portugal and Africa
Interviewed January 4, 2019
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