Marketing Attribution Mistake #3: Speaking In Silos
If you’ve continued to follow along with OptiMine’s blog series about the top marketing attribution mistakes, you’ll know it is time for us to unveil Attribution Mistake #3: “Speaking in Silos.”
Unfortunately, many brands still manage marketing with different teams by marketing channel. The email team might be different than the paid search team, and for certain would be different than the TV team. These teams don’t always coordinate very well and almost certainly don’t collaborate on budgets and budget allocations. Worst case scenario: these “silos” actively work against each other fighting for marketing investments.
Your choice of a marketing attribution solution may actually make this “silo” problem worse. Partial digital-only solutions such as Multi-Touch Attribution (MTA) won’t tell the full story across all channels and don’t measure offline conversions very effectively. As a result, major portions of the marketing budget and customer conversion points are missed. And, the digital marketing team won’t get full credit for their efforts. Consider:
1. Up to 80% of digital ads’ impacts are NOT on digital outcomes (for more information, read OptiMine’s Index: https://mcusercontent.com/7ff9da9b9f0299d8baccc6f31/files/94ad988e-01d9-4f72-8ffa-a169b15aa10b/OptiMine_Index.01.pdf )
2. Advertising in one channel impacts performance of other channels
3. Even “unified” solutions miss the mark on digital optimization because they miss cross-channel relationships at detailed campaign-levels
Why choose a solution that works partially, and only for part of the marketing team? With OptiMine, you get a full cross-channel solution that will yield the best outcomes for the entire company.
Continue to check back often during the next few weeks as we keep exploring each of the Top 5 Marketing Attribution Mistakes, or feel free to skip ahead & download the full guide now: https://uscampaign.optimine.com/july-2020-marketing-attribution-mistakes-blog3