Today's participant is David Skinner, SVP Client Solutions / Account Management at [x+1], an online targeting platform. He recently answered the following question during a conversation with AdExchanger.com...
AdExchanger.com: Why is cross‑channel attribution important to the marketer?
DS: It's important for several reasons.
One is just from the accountability standpoint. It's the expectation that your marketing is going to be measurable and you're going to be able to associate an ROI with it -certainly in digital –and, ideally across other channels. It's the “executive mandate,” if you will, that you've got to put an ROI around the marketing you're doing.
Another reason cross-channel attribution is important is because media channels all interact. As a consumer, we know how we consume media. You can be watching a commercial during a TV show and then you’ll do a search on it. Or, you may do a search and then come upon a display ad -and then come back to the site.
Finally - and this is particularly relevant to the direct marketing folks – in competitive environments, better attribution will given one marketer an advantage over another. Let’s say a Verizon and a Time‑Warner are both trying to sign you up for their cable TV business. Or, a Chase and a Citibank are both trying to get you to apply for their credit card. To perform well in the market, the marketer is going to need to be able to see what's working out across all channels. That’s attribution at its core.
One more thing I’d like to add is that the consistency of message is critical. Whether the marketer sees the consumer in their retail store, or on their website, or even via an incoming call, all of these messages need to be consistent. The marketer needs to be able to give the consumer that same offer, that same message across channels.
The consistency of customer experience cross‑channel is as important as the measurement side of it.