As marketers, we’re swimming in data, but often lack actionable insights. As consumers, we’re bombarded with messages for products and services, but tune out those that aren’t relevant. In fact, 88 percent of consumers say advertising has little or no influence on them when making purchase decisions.
88 percent of consumers say advertising has little or no influence on them when making purchase decisions.
We all want better marketing, delivered to the right people, at the right time.
To do this effectively, marketers need to get smarter about two things: how we target messages to our customers and prospects across channels and devices, and how we measure the effectiveness of these efforts. This requires sophisticated marketing intelligence that can only be gathered from combining audience profiles and performance data at a granular level.
In our recent webinar, we joined forces with Forrester Senior Analyst Tina Moffett to describe how companies can embrace advanced measurement methods to thrive in the age of the consumer.
The webinar includes our expert insights into:
- Current state of marketing strategy and measurement
- Future of cross-channel attribution
- Best practices for a more holistic measurement approach
We also took a closer look at how combining audience with attribution in a single view helps marketers understand how different customers interact with brands across channels and devices so they can deliver experiences that generate results.
Here are some key take-aways from the webinar.
Shift to Customer-Focused Approach
With the rise of digital, mobile and social, the drivers of marketing success have changed. Today, preparing your organization for cross-channel marketing attribution requires a shift to a customer-focused operating model. But many marketers struggle with data integration challenges. It’s not easy.
Consider these statistics:
- Just 6 percent of marketers worldwide say they have an adequate single view of customers or prospects across all devices and touchpoints, despite 90 percent citing it as a top priority.
- Only 29 percent of brands say they’re good at translating data and analytics into measurable business outcomes.
- More than 46 percent said that integrating online and offline campaigns was their biggest challenge.
The frequency, timeliness, applications and access of current measurement practices are morphing, driven by technology innovations that enable real-time information, individual consumer data and more powerful analytics tools.
Successful brands are moving from a product-driven approach to a consumer-led approach. These organizations use new platforms to uncover the “what” and the “how” of consumer behavior and reveal the “why” of deep-seated needs and motivations.
As these companies move from siloed data-rich environments to connected insight-driven situations, they are able to make predictions, manage budgets, and tailor tactics, offers and timing to drive results.
Best Practices for Attribution
Cross-channel attribution continues to be a top priority for marketers today – and the future of attribution signals that marketers expect more data across channels, more insights, and more strategic guidance.
In the webinar, Tina describes how organizations can prepare for effective cross-channel attribution. She recommends three best practices:
- Create a data governance team and process to manage multiple data sources
- Create an attribution dream team to better track attribution results and manage recommendations
- Use a flexible budget structure to optimize marketing spend
Finally, we explain why marketers must embrace advanced performance measurement to thrive in the digital world, but advise that marketing analytic efforts are not a one-time project. Because consumers are always changing, measurement must keep pace, and marketers must be willing to adapt as well.
Are you curious about how marketing intelligence can help increase marketing success and drive business performance? View this 60-minute on-demand webinar: “How to Embrace Attribution: Best Practices for Future Marketing Success.”
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