Along with traditional media, social media, CTV, OTT, etc. The emergence of various new generation media has led to significant changes in consumer behavior and has led to changes in the world of marketing and attribution.
Gaurav Mehta
Gaurav Mehta, chief marketing officer of Noise, said that "attribution" is what marketers need today, along with the evolution of marketing and communication media, including scale, audience, reach, and more. is one of the problems faced by the fragmentation of new media. .
"As a result, a consumer who used to work with one operator is now using multiple platforms. Moreover, unlike the previous days when coverage was high and disconnections were few, the number of disconnections is high and the time spent every Wednesday is significantly reduced," he added. did.
He also mentioned that when digital was in its infancy, the focus on last-mile conversions and short-term ROI was entering the minds of Indian marketers.
"Consumer journeys are no longer linear, at least in low-involvement categories, but can still be similar in high-involvement categories such as automotive, travel and search, and only the means may change," he said. .
Sumit Singh
Sumit Singh, group marketing director at Info Edge, the parent company of Naukri.com, 99acres.com, Shiksha.com and Jeevansathi.com, among others, said the issue of attribution can be difficult, but it is not a big deal. .. for marketers working in the internet space because it depends a lot on the category and brand philosophy.
“We digitally track the last click because we know that each form of advertising has a truly positive impact on the consumer, thereby attributing success and impact to the touchpoint or platform. " he says.
He added that while it is difficult to attribute or attribute the impact or success of an advertising campaign to a specific channel, the problem is even more acute today as advertising is wasted on multiple platforms and is not easy to hide.
"There are solutions out there, but the need, integration, etc. requires some work on the back end, where teams can actually adjust metrics and work around campaign requirements. Because we built our internal measurement and attribution system ourselves. In the early 2000s, we did a lot of We've integrated the APIs into our internal tool, and while it's not a 100% solution, we're a little more confident because it interacts differently with our database, and it tracks conversions that matter to us. helps," he said.
Ricky Pitty
EaseMyTrip co-founder Rickant Pitti said that as consumer behavior has changed in recent years, the classic last-click attribution model is no longer valid for determining the effectiveness of marketing campaigns. With the rise of omnichannel marketing and the complexity of the customer journey, every marketing initiative can lead to a conversion.
As a result of the above, most marketers are moving towards more sophisticated attribution models, such as multi-touch and data-driven attribution, which consider all touchpoints along the customer journey and evaluate each interaction for its impact on the final conversion. . .
"Brands can also maximize marketing efforts and create measurable business value by leveraging advanced attribution models, data analytics, multi-channel marketing and focusing on customer lifetime value," he said.
Call Shivani
Echoing Noise's Mehta, Shivani Bel, director of marketing at Pureplay Skin Sciences, the parent company of Plum Goodness, BodyLovin and Phy, said consumer behavior has definitely changed with the advent of the internet and greater use of social media. it also led to a generation of cord-cutters and reduced audience attention spans.
"Understanding the different stages of the consumer journey and the distribution of media dollars is essential to guiding the consumer further down the marketing funnel, rather than looking in isolation for something that will last until the end. led. conversion," he says.
In fact, he also believes that while it may not be practical to attribute all conversions to a single touchpoint, understanding which touchpoints have the most impact on the customer journey can help marketers optimize their campaigns and allocate resources more efficiently.
Saahil Nayar
Saahil Nayar, CEO of Swiss Beauty, also stated that it is important to accurately measure the impact of each touchpoint along the customer journey, but the last-mile conversion metric is still important because it can only tell the marketer more about the performance at the point. . - funnel, CRM campaigns, etc. designed to increase conversions.
"Marketplaces, social platforms and retail channels work well for us because the brand's customer is present on all these platforms and the team has been able to communicate with the customer properly," he said.
How do marketers solve the "attribution" problem in today's world?
According to Info Edge's Singh, the problem of "attribution" that was relevant half a century ago is no longer relevant today because there are many solutions available today, but even then there is no 100% reliable solution in the market. . . This is due to repeat users and some tools working well on some platforms.
"Because every business has its own metrics and solutions to measure campaigns, it needs some adjustments on the advertiser side because there may not be a perfect solution, but advertisers and utilities need to work together to develop it, because both for them alone it's hard to develop," he said.
According to Noise's Mehta, the most important variables in quality of experience and what makes an experience good or bad are attention, followed by interactivity and its tracking.
"For any large market entry, I look at the entire funnel, including key funnel metrics like recall, awareness, attention, etc., as well as intermediate funnel metrics like store traffic, aggregators, own channel. D2C, number of visitors, and number of new category visitors " he said.
He also said that marketing dollars need to work harder and smarter because the cost of media inflation increases every year and Wednesday coverage and time spent are fragmented.
"In fact, any marketing attribution model, whether software or skill set, must be able to provide the absolute representation that the underlying, specific, time-dependent econometric model and available money will provide." shared.
However, according to Swiss Beauty Nayar, there is no perfect attribution model. "Obviously brands follow certain strategies, but ultimately you build your model based on historical data with maximum deviation points," he said. "The last touch attribute is what gives you a lot of opportunities to play with, while the first touch attribute helps you get customers, so it really depends on what your end goal is."
EaseMyTrip's Pitti also noted that given the diversity of marketing channels and the complex customer journey, the ideal attribution model for marketing should be adaptive, adaptable and able to take these factors into account.
Highlighting the different metrics Pureplay Skin Science uses for its marketing campaigns, Bel also said that bottom-of-the-funnel campaigns can be measured using the last-click attribute, as can top-of-the-funnel ones. As Google search changes. volumes, brand research, increased website traffic, etc.
In fact, he says, the ideal attribution model for marketing is one that considers all touchpoints along the customer journey, rather than just focusing on the last touchpoint before conversion, because such an attribution model aligns each medium with a marketing objective. .
Information@BestMediaInfo.com
