Research presented at Deloitte’s 2012 CMO Summit reveals that more than half of CMOs feel insufficiently prepared to provide hard data about their marketing returns on investment. One obvious obvious reason marketers fail to provide proof and data is because they don’t ahve it.
If the CEO walked into their office and asked for marketing analytics, more than half of the CMOs attending that conference could not readily provide any substantial marketing returns on investment (ROI) data.
IBM’s CMO study confirms Deloitte’s findings. According to IBM’s research, 71% of marketers say they are not prepared for the marketing analytics explosion.
And finally, Lenskold Group’s Marketing ROI and Measurement Study found that, “less than half of marketers surveyed report consistently and accurately measuring marketing ROI.”
So let’s back away from the data and get this straight. Marketers—not all, but some–don’t accurately prove ROI and thus fail to base future marketing spend on actual data.
What in the world do they base future decisions on? A hunch?
The direction of the wind or placement of the sun? What possible indicators could they be using to determine future spend without tracking ROI?
Lead and account attribution is among a marketer’s most important tasks. The ability to successfully attribute accounts and leads is paramount.
That’s why hundreds of companies use Convirza. They want to effectively prove marketing ROI. They want to accurately attribute customers and leads to specific marketing activities. Our clients either want to track this information internally or provide this data to their clients.
So what goes into an effective lead and account attribution strategy? That is, how do you do it? And, more importantly perhaps, how can call tracking help?
Call tracking software incorporates unique call tracking numbers. These tracking phone numbers are assigned to individual customer engagement points. Then when a potential customer calls from one of the engagement points, the inbound call is automatically associated with that specific marketing source. Anytime a person dials a tracking number, the call runs through the software system.
The software is also able to record the conversation. Thus sources that drive the most phone calls and best leads are deemed to be the most effective. Tracking numbers are used for digital and traditional advertising and can even link to individual website visitors.