The ‘A’ Word—Learn It, Love It, Live It!
I attended a seminar earlier in January held by the Direct Marketing Club of New York titled "Annual Outlook: What to Expect in Direct & Digital Marketing in 2012." The main speaker at the event was Bruce Biegel, managing director at the Winterberry Group, a strategic consulting firm that focuses on advertising and marketing.
For those of you who have never before attended an event where Biegel presents, I highly recommend attending one if you get a chance. He's a highly engaging speaker with many interesting insights gleaned from years of experience in the field, and backed by the research and analytics of the Winterberry Group.
The focus of the presentation was a review of the marketing and advertising world of 2011, along with some predictions for 2012. According to Biegel, 2011 was the year in which many firms intensified their focus on reporting and analytics tools. For 2012, he predicted many marketers will finally begin to pursue true multichannel integration across their firms, driven by data, analytics and the quest for cross-channel attribution. He touched on the term attribution repeatedly, referring to it as the "Holy Grail" of multichannel marketing.
In a marketing sense, I define attribution—or the "A-word" for the purposes of this blog post—as the act of determining what marketing channel or budget was responsible for generating a particular action: be it a click, lead, order, etc. As a direct marketer, I just love this word. And you should, too. Attribution is where the rubber meets the road. Attribution is what separates the men from the boys, the measurable from the immeasurable, direct response from … well, branding. Not to disparage brand marketing, but I think I can speak for most—if not all—colleagues in the industry when I say that demonstrable attribution is really what has always separated direct response marketing from branding—analytics that essentially give us the ability to calculate the actual ROI of every precious marketing dollar we spend. Enough said.
Who’s Your Data? is a blog that aims to disseminate thought-provoking tips and techniques involving the use of data and database marketing to direct marketing professionals. Why should you care? Because implementing data best practices has been shown to lift response rates, improve analytics and enhance overall customer experience. Reader participation is encouraged!
Rio Longacre is a Sales & Marketing Professional with more than 10 years of experience in the direct marketing trenches. He has worked closely with businesses across many different vertical markets, helping them effectively leverage the use of data, personalization technologies and tracking platforms. Longacre is currently employed as a Managing Consultant, Marketing, Sales & Service Consulting at Capgemini Consulting, a premier management consulting firm. He is based in the company's New York City office, which is located in Midtown Manhattan. He has also previously worked as an online media buyer and digital marketing strategist.
Email Longacre below, or you can follow him on Twitter at @RioLongacre. Any opinions expressed are his own.