CAKE by Accelerize Introduces Data-Driven Attribution Technology
Company’s Focus on Innovation Further Establishes ‘Journey by CAKE’ as Foundation for Industry-Leading Marketing Intelligence Technology
Accelerize and its digital marketing software division CAKE announced the availability of its Data-Driven Attribution (DDA) modeling and a multi-touch attribution (MTA) scoring system which evaluates the impact of each touchpoint in the customer journey. Leveraging advanced algorithms and machine learning, the DDA modeling and MTA scoring extend the marketing intelligence technology behind Journey by CAKE, an enterprise cloud-based platform that collects and analyzes data in real-time. With the new Journey capabilities, marketers gain a more holistic view of the customer journey by evaluating a broader range of key data points to determine true marketing performance and deliver maximum return on advertising spend.
MTA is a method marketers use to understand the importance their digital marketing efforts have on the customer journey by assigning a fractional value to individual touchpoints along the path to conversion. Enabling further expansion beyond pre-defined, rules-based attribution, CAKE’s DDA algorithm produces an MTA score for each touchpoint. The MTA scores feed into the Journey Insights dashboard that provides advanced visualizations to illustrate the efficacy of marketing campaigns and channels.
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“Our goal is to redefine the boundaries of innovation and expand the possibilities of marketing intelligence technology,” said Santi Pierini, CAKE President and Chief Operating Officer of Accelerize. “Marketers need to move away from making decisions based on attribution models that are fundamentally flawed and lack clarity of the entire customer journey. Distinct from other solutions, Journey delivers insights with a superior level of integrity and allows marketers to make decisions derived from more complete, accurate, real-time data.”
The majority of marketers believe attribution is important, while more than a third of them believe it’s nothing short of critical. However, 77 percent of marketers indicate that they may not be using the right attribution models, or they just don’t know. Additionally, 78 percent of marketers plan to adapt and increase their use of cross-channel attribution.
Journey’s DDA builds custom attribution models for individual clients based on real-time data generated across various digital marketing channels. Providing more accurate insights than rules-based attribution, CAKE’s DDA modeling identifies and evaluates statistically significant patterns and correlations between multiple touchpoints’ attributes. The benefits include gaining a clearer understanding of which digital channels contribute most in helping clients attain their business goals, as well as for more effective campaign planning and optimization.
“Brands that can track, manage and effectively act upon their customer data are the ones set up for success,” said Pierini. “The winners will move beyond using attribution data for just immediate, basic performance reporting, but also to leverage all touchpoints to improve campaign optimization and the overall customer experience. CAKE’s long-standing commitment to strategic research and development is evident, and we strive to continue empowering marketers with the insights needed in the new era of marketing intelligence.”
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