The most promising – and most practical – form of next-gen measurement is multi-channel media attribution. Multi-channel attribution is measurement of how all marketing channels affect the actions of a prospect or customer. For example, a multi-channel attribution model would measure how adding a display ad campaign to search and email affects conversion rates across all three of these channels. Forrester surveyed 275 Web site decision-makers in 2008 and found that more than half of them believed that attribution would enable them to spend marketing dollars more effectively. Yet only 31 percent were actively using it.
Forrester and others like comScore have been working on methodologies for accurately recording all campaign touch-points in one place to make it easy to compare performance and not record duplicate conversions.
At Bizo, we support the efforts to move in this direction and are constantly talking with our advertisers about the best way to measure online ad success. When you are focused creating top-of-the-funnel opportunities and then moving those prospects down the funnel – as most B2B advertisers are – tracking leads through the sales process can be challenging. But we’re seeing that multi-channel media attribution consistently proves that online display advertising is very effective – well more so than “last-click” methodologies would otherwise indicate.
We want to be able to help marketers tell that story to their bosses. We’re currently working on strategies to more effectively track and provide reporting to prove the efficacy of a display ad whether or not a user clicked. Measurement such as: Who bought? How many times had they seen an ad before they bought? What type of business person is most likely to convert?
As marketers, have you had any success in this type of effort? What has worked and what hasn’t? We’d love your feedback on what capabilities and features we should be thinking about as we build our roadmap to solve these problems for marketers. Please reach out and help us deliver the best possible solutions!