Marketing Attribution: Giving Agencies the Power to Keep Their Media Performance Promises
Are you feeling the heat? If so, you’re not alone. Marketers are under more pressure than ever to show how their investments further business objectives, optimize consumer experiences and deliver a measureable return. Yet most struggle to demonstrate impact in ways that are meaningful to the C-Suite. Senior executives require specific information that is unique to their role, and marketers must tailor their data to the issues they care about most.
Marketing intelligence platforms that enable you to analyze the impact of your marketing and advertising against specific success criteria, understand which tactics are most effective for each audience, and predict performance with confidence are the way forward. Here’s how these platforms provide the information business leaders want to know:
CMOs are responsible for all marketing and advertising on behalf of a business. In the annual brawl for budgets, they must be able to justify their current spending, as well as any increases to other C-Suite leaders. They also need to make critical decisions about how to best allocate their budget and coordinate messages and experiences across an ever-increasing array of channels, devices and touchpoints. Yet many struggle with functional and technology silos that prevent them from focusing on the consumer experience and proving the full return on spend.
Marketing intelligence solutions can help CMOs meet the rising expectations of consumers, and their C-Suite peers. These solutions promote collaboration across the marketing function and with agency partners by consolidating and normalizing audience and performance data from disparate sources into a single platform, so teams can analyze the performance of each channel and tactic for each type of audience against a common set of success metrics. With a unified view across channels and clarity into the messages, offers, creatives and other tactics that influence a specific audience, marketers can deliver coordinated marketing messages and experiences across channels and devices. Morever, they can work with their agencies to optimize paid media spend across touchpoints to drive sales, revenue, ROI and other success metrics the C-Suite cares about most.
CFOs are focused on financial rigor, budgets and efficiency. Before allocating annual marketing budgets or providing additional funds, they want to understand what has been working and what’s likely to work in the future.
Marketing intelligence platforms not only enable marketers to prove how their past investments affect behavior and drive revenue, but also provide the predictive power that lead to more accurate forecasts and greater efficiencies that CFOs demand. Imagine showing your CFO how you can drive incremental revenue without increasing the budget, attract new customers without increasing the cost of acquisition, or retain existing customers while capturing a greater share of wallet. By incorporating marketing intelligence into your operations, you can prove your ability to be an effective and efficient marketer to your CFO again and again.
The role of marketing feeds right into what is critical for the CRO: building brand awareness, driving new leads and ultimately generating more revenue for the business. But marketers can’t break through the “noise” and drive more sales-qualified leads if the experience they deliver isn’t aligned with the needs and expectations of their target consumers.
With marketing intelligence, marketers can track the consumer journey across all touchpoints and understand which channels and tactics are most effective for each type of audience. Proving how your marketing and advertising is creating relevant experiences that drive consumer action and conversions in each stage of the funnel can go a long way towards making a lasting impression on your CRO.
CEOs establish the vision, direction and long-term objectives for the organization, and want to see that the marketing department is aligned with those goals. Are you measuring what’s important to the organization as a whole? Are you targeting the audiences that are most important to the business and future growth? Are you reaching the right audience through the most effective vehicles? Ultimately, CEOs are focused on “end result” metrics like revenue and growth. As a marketer, you can impress the CEO by giving them full visibility into the results you’ve achieved from your investments and activities, and how your efforts are driving the business forward.
Proving the value of marketing can be a challenge. With access to more sophisticated intelligence, marketers can keep cool under pressure by demonstrating the kind of real results that win over the C-Suite time and again.
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