Portland SEO's Augusto Beato lamented that many businesses still don't have a solid attribution model to ensure that investments are being spent wisely in marketing. Beato was reacting to a study that 46 percent of business leaders don’t have a marketing attribution model, with 37 percent feeling overwhelmed by the complexity of attribution data.
According to this study conducted by Marketing Signals, many businesses aren’t tracking calls into the company (31 percent), not tracking sales or discount codes (27 percent) and who don’t measure paid social media activity (21 percent).
"Knowing where your leads and sales come from makes it possible to pinpoint how your audience is most likely to convert, whether it’s through pay per click advertising, email, social media or another channel," said Beato, who is the CEO of Portland SEO. "It shows if money is being spent wisely and not where the ROI is least effective."
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The research also looked into the specific ways’ businesses are carrying out marketing attribution, with 31 percent confessing that they aren’t tracking calls coming into the company.
There was also 27 percent of the respondents who admitted that they don’t track sales from offers or discount codes on their website, highlighting another way that businesses aren’t effectively measuring the impact of their promotional marketing activity.
This was followed by 21 percent who revealed they don’t measure results that come through paid social media activity, while 17 percent don’t accurately track the performance of PPC campaigns.
Gareth Hoyle, managing director at Marketingsignals.com, comments: "The research shows how many businesses are failing to understand (or sometimes are even trying to understand) the results of their marketing spend. This is despite the importance most businesses place upon marketing attribution reporting. From not tracking calls, discounts, and offers, all the way to not measuring online ad campaigns, there are many ways businesses aren’t using marketing attribution effectively."
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