The key to achieving business success hinges on high-quality, reliable data. According to a recent study conducted by Marketing Evolution, data quality leaders experience higher customer satisfaction (93 percent), potential customer lifetime value (93 percent), brand value (92 percent), operational efficiency (89 percent), and sales conversion rates (89 percent). With all of the benefits provided by high quality data, it is absolutely paramount to the success of all analytical models.
In order to reap the benefits of big data for marketing attribution measurements in today's omnichannel landscape, it's important to understand several key elements that help ensure efforts are accurate, and more importantly, beneficial to campaign efforts.
Analyze the Right Omnichannel Data
To attain successful omnichannel attribution across both online and offline channels, look for specific data sets that can help match consumer actions across channels down to the person level. Specifically, focus on:
- Print: Subscriber lists that can be matched to geographic regions
- Television: TV and cable box subscriptions that highlight advertising reach and air time
- Radio: Broadcast range and zip code data
- Digital: Multi-touch attribution measurements and engagement metrics across devices
- Marketing Landscape: Brand authority measurements, marketing mix models and creative messaging a/b test data.
By analyzing these disparate datasets, marketing teams can take a wide range of general insights and find hidden trends at the individual level. With the right marketing analytics platform, they can use this to create in-depth profiles for targeted consumers.
Distill your Data with the Appropriate Technology
Not all marketing analytics software is created equal. In order to accurately organize and distill the massive amounts of data being pulled, look for a platform with the capability to match congruities together across the various data sets pulled. Piecing together congruities at machine speed allows you to identify consumer behavior down to an individualized basis, helping to attribute across the omnichannel marketing landscape.
Organize the Data Across the Omnichannel Customer Journey
In order to turn the big data you've distilled into actionable insights, you need to understand where engagement occurs at touch points along the customer journey. This way, the touchpoints scored by your attribution models will accurately highlight where a consumer engages along various channels, and when these engagements are most likely to have an impact.
Having access to large data sets alone doesn't necessarily make them useful. Understanding the importance of data quality and where big data fits into measurement and modeling efforts is key to accurately leveraging that data and effectively attributing touchpoints across the omnichannel marketing mix.
Download our newest guide Turning Big Data into Individual Insights for more exclusive insights.