According to a study conducted by VisionEdge Marketing and published by eMarketer, for 40% of marketers worldwide the leading challenge for measuring the business contribution of marketing is the “Implementation of formal processes to collect, manage, analyze and report data”.
Several decades ago John Wanamaker said “Half of the money I spend on advertising is wasted; the problem is I don’t know which half”.
Understanding not just the channel but mainly the variables involved in driving business to an organization is key because it allows to plan how you will distribute your future marketing investments.
One of the tools developed based on providing that information is the Attribution Model. However its usability and certainty is fully based on “the model”.
Companies are systems. Every system is unique and in constant change, then not comparable with others. So Attribution Models must be based on past information and not in a fixed model that already comes with an Analytics Solution.
Let’s say you want to use the Last Click model. The result will just tell you that based on the last click model the channel A was better than the channel B. What it won’t tell you is what was the role of each channel in the conversions.
Intellignos is developing ad-hoc Attribution Models for the most sophisticated companies in the world. Get in touch with us to get more information on how an ad-hoc attribution model can totally improve the way you invest your marketing budget.