Disorganized data is the #1 enemy of marketers attempting to design coordinated campaigns and personalized brand experiences. Poor identity resolution gets in the way of audience development. And without the right performance insight, marketing analytics and attribution are difficult to pin down.
While many modern organizations have figured out how to collect massive amounts of data, most struggle to organize, understand and act on that data. When an organization has large amounts of disorganized, disparate data, it can be very difficult to identify meaningful patterns and trends to inform everything from strategic decision making to marketing performance.
Why is Marketing Analytics and Attribution So Important?
Digital marketing is moving at lightning speeds. Today, marketers are able to use data in ways thought impossible even 5 years ago. To keep up with this fast-moving landscape, understanding performance is critical. Staying up to date on best practices in marketing analytics can prevent companies from lagging behind the market and competition.
But more importantly, proper analytics and attribution helps brands connect their customers with more meaningful experiences, products and messages. Especially in high growth industries like technology, consumer goods and e-commerce, it’s never been more important to foster consumer loyalty. Developing the right campaigns, for the right audiences, delivered at the right times is only possible with high standards for marketing analytics and attribution.
But getting the right insight isn’t easy. Marketing analytics and attribution is still an emerging competency for many companies. In fact, a recent report on the future of marketing analytics found that almost 50% of companies self-reported their analytics capabilities as “emerging” or progressing.”
Unintuitively, the more data we have access to, the more difficult it becomes to find meaningful insights.
Disparate Data Makes Marketing Analytics & Attribution More Difficult
Marketing analytics and attribution often involves coordinating multiple different data sources. For many brands, this data is siloed across the technology stack.
Important user data gets stuck in the CRM. Campaign analytics are siloed in ads management software. And user behavior data lives in website tracking platforms. To get a full picture of marketing performance, it’s important to integrate data from disparate sources like these.
But tracking is only one part of the problem. If you can’t properly track campaign performance, you likely can’t properly attribute results either. It’s important to know what tactics are working, down to the specific link, asset or action level. Without this deep insight, it can be difficult to determine the effectiveness of individual marketing efforts.
Marketing Analytics & Attribution Solution Requirements
Given both the importance and complexity of marketing analytics and attribution, it’s not surprising that brands are looking to external vendors for help. Many marketing service providers, digital agencies and SaaS platforms are developing technology to help brands solve their analytics and attribution problems.
But media analytics and attribution are difficult to execute even when conditions are optimal. It’s important for vendors to design flexible solutions that create value even when a brand is sitting atop an enormous pile of disparate, disorganized data.
Here are a few top requirements for flexible marketing analytics & attribution solutions:
Nimble & Flexible:
Every customer’s tech stack, data competency, and existing analytics capabilities look different. It’s important that analytics and attribution solutions are flexible enough to handle varying levels of complexity without sacrificing functionality.
Fast & Easy to Implement:
For many brands, there’s an incredible amount of activation energy required to onboard any new technology. And onboarding an unified analytics and attribution solution will likely feel like a huge project. MSPs should be developing solutions that scale with a fast, easy and repeatable implementation process.
Able to Generate Insights Quickly:
Once live, brands will want to see quick wins to know they made the right investment. Future-ready marketing analytics and attribution solutions will be optimized for faster query times, generating faster results.
Easy to Use:
UX/UI expectations are higher than ever before. Brands want intuitive, visual, easy-to-use interfaces that clearly display results. When building solutions, MSPs shouldn’t make the mistake of discounting the importance of user experience.
Able to Handle Large Amounts of Data:
Today, companies are collecting massive amounts of data. Many brands don’t use 85% of the data they collect. Modern marketing analytics and attribution solutions should be built to surface all of that unused data, and more importantly, make that data actionable.
How MSPs are Creating Marketing Analytics and Attribution Solutions that Scale
Marketing analytics and attribution solutions can be difficult to build, especially given consumer expectations around complexity, speed and experience. Many MSPs struggle to balance development priorities when building a complex solution like this in house. That’s where Aqfer comes in.
Aqfer has built a nimble, compliant, future-ready marketing analytics and attribution solution designed to be white labeled by MSPs, digital agencies and SaaS companies. Our Build-It-Together approach allows our clients to bring new offers to market more quickly, more affordably, and with less risk. Aqfer’s solution is built and maintained by experts in marketing analytics and attribution, customized for your customers and use cases. Process large amounts of data at lightning speeds to quickly share the insights your customers need to make smarter decisions.
The Aqfer Difference
- Low code enables solution providers to build flexibly and repeatably
- Reduce query times by 85%. Proprietary intelligent query routing approach runs queries 10x faster at 1/10th the cost
- Leverage massive amounts of data. Understand what drives consumer events, no matter how rare
- Make more of your data usable. Put to work the 85% of data in your data lake that typically goes unused
Click here to discover the benefits of Aqfer’s Built-It -Together approach to marketing analytics and attribution