Why Your Marketing Attribution Provider Should Guide You Like a GPS, Not a Paper Map

Traveling between cities and states with paper maps can sometimes be a grueling process. To go from point A to point B typically requires the use of two maps; interstate maps and city maps. The former would help determine the route between two states or cities. The latter would help figure out how to get to a specific location within the city. The use of two separate methods to solve for one overall problem presents a lot of challenges.

Now, with the advent of the GPS, drivers can plan out an entire route from point A to point B to the utmost level of detail that is constantly updated in real-time based on where the driver is, where they want to go and their individual preferences. The technology uses sets of maps that provide the driver with a combined look at the overall travel route and the level of detail in the city maps in a consistent way. While driving, the GPS constantly monitors the process to make sure the driver is on the best route, providing information on any obstacles or detours, to make sure that they reach their final destination in the most optimal way.

This comparison is a lot like how a marketing attribution platform should be operating for marketers. The job of marketing attribution platforms should be to help all decision makers, at all levels within a marketing organization take the right actions to achieve their business objectives.

Are you getting that from your provider? Here are the three things an attribution partner should be doing in order to provide you with a GPS, not a paper map:

  1. Use a single framework consisting of all marketing activities to measure their influence on the marketer’s goals. In the scenario above, using one paper map on its own is not sufficient enough to get the traveler to the right location and requires that the user consult both maps on their own and try to piece together the directions to come up with a combined route that’s optimal, while the GPS provides a consistent overall look that is updated in real-time.

In terms of an attribution platform, this allows one to create an actionable path specific to each decision maker (channel manager, VP or CMO) in the organization, but leads them to the same end goal regardless of their function and scope.

  1. Measure the impact of all controlled and uncontrolled factors on the ability to achieve business goals. Controlled and uncontrolled inputs vary from product trends, consumers’ tastes, consumers’ media consumption habits, consumers’ responses to messaging, and competitor responses, to less obvious factors such as weather, economy, and seasonality. These things are dynamic, meaning they’re constantly changing and require a model that can monitor inputs as they evolve to take the most updated and accurate information into account. The impact of these factors produces a different response from each consumer, so the model needs to be granular enough to measure those nuances. Just like how the GPS can offer alternative routes based on real-time, unforeseen traffic or construction changes, your attribution provider needs to be able to take into account all external factors impacting a campaign’s effectiveness in order to inform you on how best to optimize.
  1. Facilitate actions that lead marketers to their objective. It is no longer sufficient to have a plan and set it on auto-pilot. The actionability component of any attribution solution also needs to allow the marketer to bring in their unique perspective and evaluate/grade the impact of any optimization on its ability to meet marketing goals. Marketers need a balance of automation and oversight where they can continuously monitor the execution of the plans and adjust them when the need arises. Just like a paper map can’t provide the driver any guidance on the best optimal route, a good GPS will provide the driver with options and their impact which will lead them to a good path to reach their destination.

Want to learn more about Marketing Mix Models + Multi-Touch Attribution best practices? Get in touch with one of our experts, info@convertro.com.

Written by Vishvesh Oza, Director of Product Management, Convertro