DemandLab, a technology-focused marketing consultancy, and leader in marketing-led customer experience released new research that reveals how few–only 36%–are utilizing marketing attribution strategies that connect marketing’s value to the bottom line. Those, however, who do have an attribution strategy in place are seeing great success. The survey, fielded in partnership with Ascend2, indicates that while marketers do realize the value of attribution, many are struggling to implement their own strategies.
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Key findings from the report include:
- 95% of marketers who have implemented an attribution strategy are seeing success.
- Nearly 60% of marketing leaders say revenue attribution enhances their ability to make better decisions, increase campaign effectiveness, and to report on marketing ROI.
- Despite this, only 36% of marketing leaders have an attribution strategy in place.
The Leadership Outlook on Revenue Attribution research exclusively represents the perspectives of more than 100 marketing leaders, decision-makers, and C-suite executives. The report highlights the top strategic benefits of implementing revenue attribution, barriers to success, and expected budget trends.
While the research confirmed that more than one in three marketers has already implemented marketing attribution, it also revealed that building a strategy remains a challenge for a considerable number of marketers.
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“The majority of marketers have invested in sophisticated marketing technology stacks, but many still struggle to consolidate the data and connect the dots across platforms,” said Eric Hollebone, Chief Services Officer at DemandLab. “According to survey data, nearly one in four marketers has no current plans to tackle marketing attribution, and the top barrier to success is data quality.”
However, the rewards for marketers who prioritize marketing attribution are great. Among those who implement a marketing attribution strategy, 95% report seeing success, with the top three benefits including the ability to make better decisions, marketing, and sales alignment, and increased campaign effectiveness.
“This report confirms that the rapid advancement of tracking and analytic technologies has finally brought marketing attribution within reach,” said Rhoan Morgan, CEO and Co-Founder of DemandLab. “In today’s environment, it’s more important than ever to have meaningful and trustworthy marketing attribution reporting. The vast majority of marketing leaders who have implemented an attribution strategy report that they are seeing measurable success, including increased marketing budgets and greater executive buy-in.”
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