Omni-Channel Attribution Technologies
In class, we briefly discussed the challenge of measuring multi-channel attribution, but what are businesses actually doing about it? To quickly review, multi-channel attribution refers generally to the process of parsing out how, and to what extent, different consumer touch points influence consumers’ buying behaviors. However, different stakeholders have concentrated this definition differently. For clarity sake, we can distill these differences into three common focuses: (1) the impact of online communications on offline sales, (2) the consumer experience across multiple devices as it drives toward conversion, and (3) the consumer experience across multiple digital marketing channels as it drives toward conversion.
All such articulations are plagued by the same underlying challenge. Although marketers in today’s omni-channel marketplace must accurately measure the value of different channels to strategically allocate their resources for the highest conversion rates, the cross-channel attribution technologies to do so are both underdeveloped and in short supply. Enter Adometry, a relatively young cross-channel ad attribution firm that has recently raised $8 million in funding to combat these challenges. According to Adometry’s CEO, Paul Pellman, “the company’s technology can track offline conversions and tie those to online ad activities—helping brands figure out the impact and value of multiple media channels.” Similar firms have undoubtedly begun to follow suit and develop their own comprehensive analytics platforms to identify and quantify multi-channel performance drivers. However, as of date, Adometry appears to be ahead of the curve in this markedly immature industry (For more information, refer to the company website: http://www.adometry.com). That said, the influx of competition and R&D investment will likely speed the rate of innovation and fuel a more vigorous attribution measurement landscape in the coming years. Thereby, the everyday marketing toolbox will soon include fully-integrated attribution measurement technologies that provide realtime results and clarify the precise interplay and impact of disparate marketing investments.