Full Digital Marketing Attribution and Choosing the Right MarTech Solution
Marketing Technology is just exploding these days. It is amazing to hear the statistic that on average, B2B companies with robust marketing groups use over 90 MarTech tools. Wow!
Marketing technology has the purpose of furthering the attainment of marketing goals. However, just as with many new tools and processes, there can be a subtle shift from reaching the goal that MarTech tool is designed to help with to fully and robustly using the MarTech tool. This is certainly true with tools that are designed to help a marketing manager make sense of the attribution data generated from digital marketing such that it can be actionable. So once a CMO or marketing leader has obtained these tools, he or she probably has some new problems.
This problem had originally cropped up because marketers had engaged in digital marketing, which held great promise to not only deliver results, but also to provide a stream of data that could be useful to monitor activity and measure results. A beautiful thing! Yet, the reality is that each of the (exploding number of) digital tactics comes with its own separate set of data and its own measurements. So now you have many separate streams of data and the partial and full silos created by this data put you in a new quandary: how to track and learn across multiple data streams?
The answer: a MarTech solution. While several of them hold promise, a major problem is that (until now) there has been no existing MarTech tool that can help you have 100% visibility across all data such that you can gain a full understanding of each individual marketing tactic, much less the impact of each marketing tactic on the other. To truly have an effective solution, you really do need to see how each digital marketing tactic contributes to the path a prospect takes from the time they first encounter your brand until they move through the various conversion points to a sale, becoming a customer.
But because of the data proliferation and the fact that there has been no full solution, many marketing managers have had their attention subtly shifted from trying to solve the problem, to using MarTech tools to learn a lot more and get more deeply into what essentially is unnecessary data. Interesting data, yes. Truly valuable data to solve the problem, no. And so MarTech solutions providers have generally just added to your problems: in addition to having the initial ‘datawhelm’ from all the digital marketing data available, now you still have that problem but you also have an additional one, more data about your data, but still no way to see full attribution across all your digital marketing channels. Whew! What a mess.
So, we have good news on two fronts. On the first front, there is now a MarTech product on the market that will – in a simple and focused way – help you gain a full attribution understanding of all your digital marketing tactics, across all channels, on both an individual level and an aggregate (segment) level. Second, this solution actually offers relief for your original problem, datawhelm, because it is an artificial intelligence solution, which means that over time, beyond simple tracking and measurement, it will learn about your visitors from your data flowing in, and it will help you identify the tactics that offer the most value in your marketing program. So it also helps you pare down your digital marketing elements to just the ones that work for your visitors’ conversion path.
CMOs and strategic marketers finally have a solution to a problem, and not a quasi-solution that actually creates more problems. Contact us today to learn about this elegant solution and how it might help you.