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Scrap Attribution, Try Performance Management Instead

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This post finishes up our ‘Attribution is Impossible’ series written by Sergio Maldonado and first published on chiefmartech.com.

In this series, we have discussed the growing importance of a 360-degree view of your brand and the experiences it creates in the face of the marketing revolution that a demand-led world has brought about. This purpose is fully aligned with the promise of omni-channel intelligence and not contaminated with customer-level data integration imperatives.

It is at such decision-making level, where ideas meet data, that the most crucial things happen. For the executive decision is the one step that defines the business and cannot be automated.

So then how exactly can this decision-making level facilitate performance improvements?

  • Omnichannel Intelligence: extreme flexibility in connecting data from multiple owned, earned and paid media resources enables comprehensive performance management
  • Advanced Built-in Know-How and Machine Learning Capabilities: a range of improvements to the way in which data is reported on, as well as action triggered, can be addressed through Machine Learning and the provision of best practice-tested metrics and frameworks
  • Collective Intelligence: workflows for the effective propagation of insights enable you to efficiently capitalize on the expertise of individuals and teams

 

And I certainly believe that some of the promises of this new, growing space are just as exciting as those of attribution. To name a few:

  1. An aggregate summary of investments and partial outcomes. Knowing how you are doing half way into the race should be a good indicator of eventual success. Not to mention the cost savings associated to putting an end to countless hours of manual reporting work.
  2. Anomaly detection models that take advantage of a very large amount of behavioral and media performance data. Cost savings come in this case from even more expensive analysts’ hours.
  3. “Contribution models” or “journey distribution flows”, computing aggregate reach, response, or behavioral milestones along the path of online and offline experiences offered by the brand.
  4. A combination of social media metrics with intentional and brand equity benchmarks originated in trusted third parties better positioned to gather consumer feedback than most individual organizations.

All of the above cost significantly less than attribution projects and happen within weeks. But given that I am biased — Sweetspot is focused on these 4 areas — you should not take my word for granted.

There you have it, if you must: your ROI.

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Megan Wilcock

VP of Business Development for Sweetspot. Responsible for strategic brand development, marketing and business development. BA/BComm graduate from the University of Melbourne. My passion lies in finding creative solutions and encouraging collaboration.


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