Companies are facing a challenging time today wrestling with the requirement to personalize communications and offers. What’s more, personalization is about much more than segmentation, it’s about calibrating offers to a level of detail only achieved by understanding the consumer’s mindset and behavior at the point in time when interacting with your brand. Three articles from MarketingProfs.com discuss personalization from the challenge of accomplishing real time personalization to how to implement radical personalization and the challenges of personalization in digital marketing. Enjoy! Marketers Struggling With Real-Time Personalization Understanding the Five Pillars of Radical Personalization Marketers’ Biggest Obstacles to Effective Personalization Tell Me What You Think! DBMCatalyst
Who hasn’t been in the middle of the great “controversy” about whether Marketing or Sales owns a sale which arises as a result of a marketing campaign? Moreover, how much of the sale can be attributed to each sales or marketing channel? And don’t even bring up which inbound/outbound channel tipped in the sale…..
I recently read an article “Defendable Multichannel Sales Attribution“, written by Tom Reid at the Hacker Group, which deftly explains the core issues. I mostly agree with his points, more on that in a bit, and it’s worth the read. Particularly so because he stresses the necessity of good data, test & control and the establishment of business rules for channel attribution.
I won’t kid you, it’s hard to pull off multichannel attribution primarily because success hinges on the integration of competing departmental/units under pressure to achieve their own KPIs. Hey, the technology (database) is easy comparatively. To summarize, he asserts that there are three approaches to sales attribution:
- Rules-based: credit (the sale) is attributed to whomever drives the last touch (sometimes the first)
- Contribution: all participating channels receive mention and even a weighting of their contribution and/or a proportion of the sale
- Statistical modeling: this isn’t detailed but could lean towards multivariate testing of several types which look to identify the relative impact of channel, content, timing, frequency, etc. of each of the overall campaign components
While I don’t strictly agree that statistical modeling is always necessary, Reid lays out the necessary data and design components needed as input. Those inputs alone will enable quite satisfactory, rich analytics which will allow you to assess your current campaign, attribute proper channel impacts and to trend or predict future success.
In my opinion both Marketing and Sales own (any given) the “Sale” but each must be given proper defensible attribution.
Let Me Know What You Think!
Ann McCartan, DBMCatalyst.com