How to Build the Business Case for Attribution
U AU
Introduction
84% of enterprise marketers intend to invest in attribution in the next 12 months*. Yet many of the marketers we speak to still struggle to justify spend on attribution technology to their business. Before you can use the results to prove your point, you need to persuade your FD, MD or CEO that your business should be investing in attribution in the first place. Rather than taking everyone in your business through the complex algorithms, we want to help you to build an ROI focused business case for attribution.
* Source: Econsultancy: Enterprise Priorities in Digital Marketing
In this booklet we will demonstrate that if you deploy your attribution solution in the right way you can (within 3 months): 1. Identify 15-20% of marketing activity that isn’t working 2. Identify where to re-invest this budget
Here is our 4 step plan to help marketers build the business case for attribution:
1 Do the Math(s)
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By spending 1-5% of your media budget on ensuring the rest is spent in the right way, you will be able to prove that you’re managing it effectively. Budget is often seen as a big blockage, but the way I look at it is just 1% of your budget can tell you what the other 99% is doing. With that perspective the cost doesn’t seem significant. James Libor, Virgin Holidays By deploying the correct solution you will find 15-20% of ineffective spend within 12 weeks and identify where to re-allocate it.
2 Focus on Solving Existing Questions
The most effective way to get buy-in from stakeholders in your business is to focus on solving their most pressing questions with attribution early on. For example, you could enable your search manager to justify generic PPC once and for all, which will in turn prove to your MD that it is more than just an academic pursuit. For a more in depth list of example questions, you can check out our latest blog post on how to build a business case for attribution at https://goo.gl/mQu2Ww.
3 Focus the Plan to Prove Value Fast
It is easy to get hung up on the technology and the algorithm that makes attribution possible - but to successfully sell it into your business, you need to step away from that and focus on the value. Here are two top tips to help you focus your plan in a way that will prove value fast... 1 Shifting the budget from an ineffective activity to an effective one has the potential to both save money and generate further revenue. 2 The right platform should be easy to implement with the right level of service. Allowing you to answer those pressing questions, rather than waste time searching for the perfect algorithm.
4 Go for a Fixed Price Solution
The perception in the marketplace is that volume based pricing is standard and the more successful you are, the more you will end up paying. This is no longer the case. You can now get fixed cost platforms that won’t penalise you for succeeding. Don’t fall into the trap of a model that will become more costly the more you measure. It also makes it harder to prove the value of your attribution solution if you don’t know how much it will cost in 12 months.
Summary
In today’s ‘omnichannel’ world, last-click is no longer fit for purpose. Rather than telling stakeholders that they have no choice but to move to attribution try something like...
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In the next few months we are going to have a much better idea of how our marketing channels are performing.
Focusing on the ways attribution makes their jobs easier and allows them to make more confident decisions will encourage the initial leap and make the project much more likely to succeed in the long term.
QUESTIONS?
Get infeel touch with us at Please free to get in Rakuten Attribution if you touch with us if you have anyto questions about want discuss the your marketing attribution. online and offline
ls-australia@ challenges mail.rakuten.com rm-salesuk@rakuten.com
Are you ready to build the business case for attribution? Rakuten Attribution (formerly DC Storm) arms digital businesses with performance measurement tools, analysis and reporting, powering great decisions and driving success. rakutenmarketing.com.au rm-salesau@mail.rakuten.com +61 (2) 8274 5100 graphics sourced from freepik.com