Study: Cost Justification Is The Biggest Impediment To Cross-Channel Attribution

 

cross-channel-marketingMore than three-quarters of marketers plan to add cross-channel attribution within the next two years, according to a recent survey conducted by IDG Connect and sponsored by marketing analytics provider Conversion Logic. However, many marketers cite significant obstacles to deploying the strategy.

Respondents listed cost justification (70%), lack of appropriate skills on the marketing team (56%) and integration with existing measurement methods (48%) as the biggest impediments to employing cross-channel attribution.

“We need to better communicate the savings and efficiencies that sophisticated attribution can deliver to counteract those perceived obstacles, as well as the specific components that deliver those benefits, like channel synergy, baselines and decay rate — that all attribution is not created equal,” said Alison Lohse, COO and co-founder of Conversion Logic, in an interview with Marketing ID.

The study also found that almost 40% of respondents say they plan to use at least six channels to reach their target audience, and they are using six or more different tools to collect performance data across all of those channels. For those that are using attribution, more than half (59%) say data collection and centralization is their biggest challenge.

“The survey really quantifies what most marketers intuitively understand, which is that marketing data is growing exponentially across the multitude of channels and we need a better, more holistic way to measure performance,” Lohse continued.

“The results make it clear that the pain inherent in staying the status quo has exceeded the challenges of adoption, and because of that, solutions that are easy to implement and use are paramount. In a nutshell, marketers can’t continue to use all these disparate tools and hope to be able to measure and grow successfully. They need to focus on honing their objectives and strategies and mapping them to a unified analytics solution that caters to their needs.”