January 26, 2017 - By Anne Curtin, Sr. Director of Marketing, Visual IQ
As consumers increasingly live and experience their lives online and through their mobile devices, the opportunity to use data to provide tailored messaging and experiences across channels and has never been greater.
Yet capitalizing on this opportunity remains a key challenge for most brands. While marketers have access to more performance and audience data than ever before, it’s scattered across multiple systems and analyzed using outdated measurement techniques. As a result, teams are unable to gain a unified view of each consumer and the channels, devices and tactics that are most effective in driving sales, repeat purchases and other desired business outcomes.
Most brands today analyze the attributes of their customers and prospects separately from marketing performance, with little to no intersection.
To deliver relevant communications that enhance the customer experience, the division between audience and attribution must come to an end. Here’s why:
Data Management Platforms (DMPs) Lack Performance Analysis
DMPs present a big opportunity to address the data fragmentation issue. With their identity resolution and device ID capabilities, they can help create a single digital profile for each customer and prospect. Marketers can then use these profiles to buy more of the media that is working for specific audiences and facilitate personalized consumer experiences across screens and interactions.
Used alone, however, DMPs aren’t enough. Just because you know the attributes associated with a specific individual doesn’t mean you know which messages, creatives, offers, etc. will best resonate with them or provoke a desired action.
Attribution Solutions Lack Audience Intel
Like DMPs, multi-touch attribution (MTA) solutions also provide critical capabilities, enabling marketers to track the consumer journey and understand the influence that a marketing channel or tactic has on a given success criteria. The challenge is that most MTA solutions measure performance exclusive of audience. If you don’t know who your customers are, what they are like and how they behave, then you can’t deliver tailored marketing messages and experiences that drive more meaningful engagement, higher cart values, increased spend and ongoing loyalty.
Audience + Attribution = Actionable Marketing Intelligence
To achieve ultimate effectiveness, marketers need a single platform that combines the profile data they have about their customers and prospects with tactical marketing performance. When audience and measurement intersect, marketers get unprecedented intelligence into what works best for whom. For instance, marketers can quickly discover:
With insight into which channels and tactics influence a specific audience, when and to what extent, marketers can not only orchestrate the optimal consumer experience, but also optimize spend within and across channels to drive conversions, brand engagement, revenue and other desired success metrics.
Want to know more about how Visual IQ can help you understand marketing performance in combination with consumer profiles? Request a free demo of our marketing intelligence platform today.