In 2019, we saw digital ad spend finally overtake traditional ad spend such as TV and radio. Unfortunately alongside that, the challenge of siloed data complexity also increased with the influx of marketing channels driving customer engagement increasing to 10x complexity compared to 2012, and a 20x complexity by 2023 (eMarketer & Statista, 2019). With silo complexity also comes saturated CPAs in Search from the past 15 years of optimizing for digital in Google stack using Last Click, so you reach a point where your growth from adding new silos reaches saturation, with plateauing growth and ask yourself: ‘what marketing channels are most effective for my business and am I getting the best ROI?’.
This is the problem attribution is designed to solve.
Our view on the market as it currently stands
Multi-channel silos make it difficult to fully measure your marketing and in fact AdTech solutions provide a broken single customer view – one from Analytics, another from a DMP, another from CDP, and econometrics views from Nielson for Linear that also don’t tally up, and so on. And so from a tactical perspective, marketing teams turn back to last click to drive decisionmaking. This results in focusing a large proportion of your digital marketing efforts towards the end of the funnel, resulting in higher CPAs: which are saturated. You also run the risk of cannibalising your media spend by using paid media to drive conversion on top of your organic ranking. Other frustrations that have an effect are limited in-house talent and compromised agencies.
We conducted a survey earlier this year with censuswide and asked 200 marketers about their attribution solutions. One thing was clear from the survey, more than 90% agreed attribution is broken and it’s screwing up your entire approach to marketing.
With QueryClick’s passion for a data driven approach and in a bid to combat these marketing challenges, we developed our unified marketing intelligence platform: Corvidae, which uses hybrid analytics to maximise your marketing potential.
What is hybrid analytics?
Our model uses your existing analytics from all marketing channels including offline and in-store (deterministic data) and uses machine learning to reprocess this with implied deterministic data and probabalistic models to cleanse and attribute your data correctly. Next we use the hybrid model to join additional data sources – and include sources where no tag is fired in TV, Radio, and OOH, to give you a full picture view of your customer journey and where to optimise your marketing spend.
Our Corvidae hybrid analytics model is 3x more accurate than best-in-class deterministic analytics platforms when compared like-for-like.
You can read more about how Corvidae helped a recent client in the finance sector optimise £11.8m of media spend and achieve 50:1 ROI. If your would like more information on Corvidae and talk about your marketing challenges and how QueryClick can help, please contact us and a member of our team will be happy to help.