Only 7.1 percent of marketers are truly satisfied with their organization’s marketing attribution efforts, according to a new economic trend report from the Data & Marketing Association (DMA) and the Winterberry Group.
Nearly a quarter of respondents (23.2 percent) said they were not satisfied with marketing attribution, while 39.3 percent said they were “somewhat” satisfied, and 21.4 percent said they were satisfied.
A range of factors are in play, according to the report. These include the growing number of channels marketers and audiences use to interact, the ever-increasing volume of data produced by these interactions, contrasting goals among organizational stakeholders, and the plethora of attribution methodologies being used today.
Interest in marketing attribution has increased over the last year for 62.9% of respondents to the DMA survey, conducted in June. Over half of those surveyed (54.9 percent) cited attribution as a top of mind focus for their organization.
“Marketers today are really taking on more responsibility for driving growth, but with that comes more accountability,” Sam Melnick, vice president of marketing, Allocadia, recently told Chief Marketer. “They’re struggling to articulate the results of their actions and investments.”
Next week, Melnick will present “Are You Measuring What Matters? The Big Difference Between Attribution & Strategic ROI” at B2B LeadsCon’s Connect to Convert at the New York Hilton.
Data-driven marketing expenditures increased in the first half of 2017 for 36.8 percent of respondents, and 43.7 percent expect increases in the second half of the year.
Spending in the first six months of 2017 grew the fastest on owned web content. Social, search and display also showed steady growth. Traditional direct response channels—particularly direct mail and DR broadcast—continue to decline.