Did you wake up today with a bounce in your step as you thought about all the fun you would have working on your marketing attribution? Our guess is that was not the case. But attribution is extremely important. How do we know that?
An extensive 18-page research report, The State of MarTech, by the research firm Ascend2, takes a deep dive into the challenges marketers encounter and how they can take back control of their tools and data to pave the way to revenue growth.
One of the questions asked was: What are the GREATEST CHALLENGES of your overall digital marketing strategy? The #2 reported challenge that marketers have is the ability to attribute campaign results to marketing efforts.
Yes, attribution is important, but it is also not the end game. It is a means to an end. The end game (and the fun part for marketers) is developing programs that drive revenue, acquire more customers, and exceed your goals. The Ascend2 research study found that the top two priorities for marketing campaigns are acquiring more customers and growing revenue (the fun stuff). Attribution was dead last on the list of top priorities. Yes, attribution is a means to an end.
What are the TOP PRIORITIES of your marketing campaigns?
Attribution is a necessary tool to demonstrate the value of your marketing spend, and it starts with understanding your end-to-end conversion cost and revenue. Attribution can transform a good marketing strategy into a game-changer for your business by letting you know which campaigns drive conversions, so you can invest in the efforts that work best.
The Bottom Line
It is important that marketers get attribution right so they can spend their time focusing on how to optimize their campaigns and tactics.
Here are two tips to improve your marketing attribution:
- Data is everything. Eliminate siloed data so you can obtain a clear and accurate view of the customer. Start with your CRM.
- Processes to automate. Marketing software can help with contact duplication, lead-to-account matching, contact-to-opportunity matching, and more. The more that marketing and sales can automate and standardize, the better.
Download the report and learn more.
More Information About the Research
For this report, Ascend2 surveyed 187 marketing professionals in the U.S., using multiple third-party survey panels, and the survey was fielded in July 2021. The research was commissioned by SharpSpring to provide marketing professionals with data-driven guidance on how to take back control of their marketing tools and data to pave the way to better results. Download the report, clip the charts for client presentations, and adapt it to support your marketing efforts.
To learn more, download the 18-page research report, The State of MarTech. Coverage and analysis of this research are also available by MarketingProfs, MediaPost, and Convince & Convert.