Building the Business Case for Attribution
The maximum number of marketers today can understand the importance of attribution in today’s world. However, there are many reasons why most marketers are still thinking about spending huge sums of money on attribution technology. It is more evident internally where most marketers are skeptic about taking this step. Most of them lack proper justification that gives rise to such a situation. However, there is a very simple solution that will eventually help to deploy a solution for attribution in the correct way. It is essential to identify the percentage of marketing that is not working and then to show the place where the budget has to be reinvested. It is the easiest manner of doing the mathematics here to satisfy the needs.
Doing the math
The best way to ensure that the entire process is being managed in the proper manner it is essential to spend at least fifteen to twenty percent of the media budget on it. Hence, by spending a meager sum from the total budget it is easy to ensure a big profit from the rest. The best way is to deploy the solution. It will allow the user to find out about fifteen to twenty percent of ineffective expenditure. Hence, the user will be automatically able to identify where to relocate the rest of the budget. It is the best move and the most calculated as well.
Focusing on important questions
The user can try to use the attribution model in order to answer the most difficult and burning questions. It would help to ensure buy ins from other stake holders in the company as well as quick value. One of the things that can be easily done is to enable the search manager to justify generic PPC for a final time. Hence, through this the user can prove to his or her MD that it is much more than simply an academic pursuit. There are many questions for attributions. Most of the answers are very easily available for the user.
Drive value quickly
Most people are obsessed with the technology and the algorithms that make such marketing technology possible for the user. However, in order to achieve the ultimate success the user needs to step back in order to take it the beyond it to focus on the values that drive the entire mechanism. Once there is a huge shift in the budget from the ineffective to the effective a number of things changes. There is a potential of saving the budget as well as producing additional revenue. However, the user need not collect a huge amount of data in order to construct the perfect algorithm very quickly. The business case should ideally have a plan in it. The plan will allow the user to take action instantly without any further delay. It will help the user to answer all the questions. Hence, the user need not spend any more time looking for the most suitable algorithms. Once this is done, the user needs to fix the price model.
About the Author
DataFactZ is a professional services company that provides consulting and implementation expertise to solve the complex data issues facing many organizations in the modern business environment. As a highly specialized system and data integration company, we are uniquely focused on solving complex data issues in the data warehousing and business intelligence markets.