Crossing the Channel
Does your cross-channel marketing program give credit where credit is due? "According to Forrester Research," writes Anto Chittilappilly at MarketingProfs, "about 87% of marketers and 85% of agencies misattribute credit: They either attribute all credit to the last touch point or have no way of attributing the credit in a meaningful manner."
He blames the erroneous attributions on common errors such as these:
- Using non-standardized key performance indicators (KPIs). There's a good chance you track performance in silos—using different metrics to measure each channel. "Online search has KPIs such as clicks, conversions, and cost per action, whereas television has KPIs such as impressions and gross rating points," he notes. "Even smart marketers who employ best-of-breed agencies often track their agencies' performance in silos." The solution is an integrated, holistic approach to measurement that identifies what works and what doesn't.
- Neglecting the positive effects of synergy and timing. "[I]f one channel is good in giving a lift to another, another may be good at receiving the lift and producing conversions," Chittilappilly says. Your television commercial, for instance, may enhance the effectiveness of your Google AdWords campaign—but may not be recognized for its true contribution.
The Po!nt: In a cross-channel world, you need cross-channel analytics that enable you to identify the true source of ROI.
Source: MarketingProfs. Click here for the full article.
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