ORGANIZATION SIZE

• Markets and Markets, a market research firm, segments the global marketing attribution software market by organization size into small and medium-sized enterprises (SMEs) and large enterprises. This segmentation suggests that buyers in the advertising attribution market can be categorized by organization size into small businesses, medium-sized businesses, and large businesses.
• For its report on marketing attribution, marketing technology company Ascend2 polled 226 marketing professionals. It categorized these survey respondents into the following employment size groups: fewer than 50 employees, 50 to 500 employees, and over 500 employees. This information suggests that if buyers are to be segmented by organization size, the organization size groups can be defined in terms of the number of employees. Small businesses will be businesses with fewer than 50 employees, medium-sized businesses will be businesses with 50 to 500 employees, and large businesses will be businesses with over 500 employees.

ROLE

• The purchase of marketing performance and attribution technology is often led by the head of the marketing unit. According to marketing agency Walker Sands, the marketing roles that lead the decision-making process for the purchase of performance and attribution technology are as follows: chief marketing officer (22%), marketing consultant (13%), marketing vice president or director (4%), marketing coordinator or specialist (2%), marketing creative (2%), and marketing manager (1%).
• The marketing department is typically the team in charge of purchasing marketing technology, with the information technology department a far second. Following are the departments that indicate ownership of the purchase and management of marketing technology: marketing (41%), information technology (13%), marketing operations (12%), customer experience (9%), digital strategy (8%), demand generation (5%), e-commerce (4%), and sales (4%).
• For its report on the state of attribution, marketing attribution solution provider Visual IQ polled marketers from various levels of the organization. Eighteen percent were vice presidents, 37% were directors, 37% were managers, and 8% were ad hoc project managers. These figures suggest that the buying team is likely composed of people from different levels of the organization. It is expected that purchase approval lies in the hands of top management.
•  Management of marketing technology is often the responsibility of the marketing operations, customer experience, or digital strategy unit. This suggests that the marketing operations, customer experience, and digital strategy units are typically the end users of attribution software.
• The units that are typically involved or consulted during the marketing technology purchase process are the marketing unit (78%), the executive unit (70%), the information technology unit (53%), the sales unit (40%), and the finance unit (31%).

DECISION-MAKING AUTHORITY

• Of Visual IQ's survey respondents, 24% were final purchase decision-makers, 59% were members of the purchase decision-making team, and 18% were people who have some influence on the purchase decision-making process. These figures suggest that the team making the attribution software purchase decision is likely composed of influencers, deciders, and approvers.
• Most marketing technology purchase teams are composed of two to five people. Seventy percent of marketing technology buyers indicate that their teams are composed of two to five people.
• IBM and Target Marketing report that marketing technology purchase requirements and selection criteria are defined by a single person in 24% of companies, a single team in 40% of companies, and a cross-functional team in 36% of companies.

INDUSTRY

• Markets and Markets segments the global marketing attribution software market by vertical into the following industries: retail, fast-moving consumer goods (FMCG) and consumer packaged goods (CPG), consumer electronics and computing products, telecommunications and information technology (IT), banking, financial services, and insurance (BFSI), healthcare, travel and hospitality, and others, including education, transportation, and government. It reports that telecommunications and IT are the vertical holding the lion's share of the market. This information suggests that users in the advertising attribution market can be categorized by industry, and that telecommunications and IT are one of the biggest industries using advertising attribution.

NATURE OF BUSINESS

• The fact that, for their reports on attribution, marketing technology companies AdRoll and Ascend2 polled a mix of business-to-business (B2B) and business-to-consumer (B2C) companies suggests that users in the advertising attribution market can also be segmented by the nature of the business. This inference is supported by the fact that LeadsRX, a provider of advertising attribution software, categorizes its use cases into B2B marketing and e-commerce.

RESEARCH STRATEGY

PROBLEM 1: ALLOCATING BUDGET ACROSS CHANNELS

• When marketers rely on instinct and insufficient data in allocating their budget across channels, they risk wasting financial resources on activities, channels, or campaigns that do not necessarily drive purchases or sales. They risk misusing their budget if they do not fully understand the performance of each of their touchpoints, channels, and campaigns.
• Through marketing or advertising attribution, marketers can identify which channels have the highest conversion rates. They can ascertain which touchpoints and channels will make the greatest difference. Attribution models help in the optimization of marketing spend.
• Around 70% of marketing practitioners worldwide indicate that marketing attribution has improved how they allocate their budget across channels.
• Around 67% of marketing executives in the United States and the United Kingdom say that attribution-informed insights have prompted them to adjust media expenses across channels.
• Around 63% of marketing executives in the United States and the United Kingdom say that attribution-informed insights have prompted them to adjust media expenses within channels.

PROBLEM 2: UNDERSTANDING HOW DIGITAL CHANNELS WORK TOGETHER

•  Sixteen percent of marketing professionals indicate that their digital channels are inadequately analyzed. This finding may have something to do with the fact that some digital channels are harder to analyze than others. For example, 44% of marketing professionals find email marketing easy to analyze, while 52% of marketing professionals find content marketing difficult to analyze.
• It has become hard for marketers, especially those who are unable to keep up with the times, to follow prospects and customers as they move from one digital channel or device to another.
•  Multi-touch attribution is especially helpful in understanding how digital channels interact with each other. It offers insights into the impact of each customer-brand interaction, and it provides a central data repository that, in turn, prevents the marketing team from working in silos.
• Around 64% of marketing practitioners worldwide indicate that marketing attribution has enabled them to better understand how digital channels work together.

PROBLEM 3: UNDERSTANDING ONLINE AND OFFLINE INTERACTIONS

• It is often difficult for marketers to assess the effectiveness of their offline marketing activities, and these activities' interactions with online channels, that they tend to take offline channels for granted.
• Marketing attribution, particularly multi-touch attribution, plays an important role in the analysis of offline marketing campaigns and their corresponding return on investment (ROI). It facilitates the measurement of the customer life value (CLV) and the cost per lead, which, in turn, are essential in the measurement of the ROI. The marketing mix attribution model is especially helpful in the analysis of offline campaigns.
• Around 52% of marketing practitioners worldwide indicate that marketing attribution has helped them understand online and offline interactions better.
• Around 55% of marketing executives in the United States and the United Kingdom say that attribution-informed insights have prompted them to develop new cross-campaign and cross-channel strategies.

PROBLEM 4: IMPROVING MARKETING ACCOUNTABILITY

• It is hard for management to promote a culture of accountability if marketing performance cannot be effectively managed, and if marketers have no means to effectively analyze campaigns and channels. Only 45% of companies express satisfaction with the measurement of their marketing ROI.
• With marketing or advertising attribution, marketers can measure the ROI of each channel and each campaign better. They can easily identify which areas to improve on and which areas to pour resources into.
• Around 50% of marketing practitioners worldwide indicate that marketing attribution has improved marketing accountability in their organization.
• Around 61% of marketing executives in the United States and the United Kingdom say that attribution-informed insights have prompted them to measure both cross-channel and cross-campaign performance.

PROBLEM 5: UNDERSTANDING CUSTOMER BEHAVIOR

•  Insufficient data about customer touchpoints and engagement levels has made customer journey mapping a challenge for marketers.
• Attribution makes this process easier by offering insights into how customers behave at each touchpoint. Effective attribution models provide information on which messages and channels customers were exposed to, which touchpoints drive purchases or sales, how brand perception, message sequencing, and external factors impact the likelihood of conversion, and which messages drive conversion.
• Around 49% of marketing practitioners worldwide indicate that marketing attribution has given them insight into customer behavior.
• Of marketing executives in the United States and the United Kingdom, around 75% say that attribution-informed insights have prompted them to "develop a more precise reach strategy," while around 71% say that attribution-informed insights have prompted them to target customers more effectively.

RESEARCH STRATEGY

LEADSRX

• LeadsRX promises to help businesses capture customer-brand interactions, optimize customer acquisition strategies, and maximize the return on their ad spend.
• Full-funnel and cross-channel, LeadsRX's attribution product permits the use of various conversion types and automatically assigns credit to touchpoints. It claims expertise in broadcast and auto dealer attribution, and supports the following seven attribution models: first touch, last touch, closer touch, any touch, linear multi-touch, weighted multi-touch, and algorithmic attribution. The product is ecommerce-ready and of enterprise caliber.
• The cloud-based attribution platform supports conversion analysis, touchpoint identification, customer journey mapping, and return on ad spend measurement for all business sizes. It offers real-time attribution that can be segmented by content, channel, or program. Results can be aggregated or viewed individually.
• LeadsRX integrates with the following applications: Act-on, AdRoll, Bing Ads, CallSource, CallRail, Facebook Advertising, Google Ads, Google Analytics, HubSpot, Lander, MailChimp, Marketo, NinjaForms, Optimizely, Salesforce, Segment, Shopify, Google Tag Manager, Unbounce, Woo Commerce, and WordPress.
• LeadsRX's competitive advantage lies in its universal tracking pixel, affordable pricing, and quick and easy onboarding. Pricing starts at only $500 per month for enterprises. LeadsRX has a universal tracking pixel that allows it to identify each touchpoint, and map the prospect-to-customer journey from start to finish.
• The LeadsRX attribution system, whose use cases are business-to-business marketing and e-commerce, can be set up in just two days. LeadsRx offers two onboarding options, namely, self-service onboarding and paid onboarding.
• On Capterra, LeadsRX has 54 reviews, an overall rating of 4.5 out of 5, a rating of 4 out of 5 for ease of use, and a rating of 4.5 out of 5 for customer service. On G2, LeadsRX has 29 reviews and an overall rating of 4.4 out of 5.
•  Positive reviews center on granular tracking, the clean and simple interface, the robust customer support, the universal tracking pixel, the quick and easy setup, the ease of use, and the level of detail. Negative reviews, on the other hand, center on the extraction and downloading of data.

ANALYTICOWL

• AnalyticOwl offers "end-to-end web, search, foot traffic, sales attribution automation." Its attribution analytics is powered by artificial intelligence. Able to track both broadcast media and digital media, AnalyticOwl analyzes audience response to identify when consumers are most inclined to respond, and what drives them to respond.
• AnalyticOwl has its proprietary software, 8 Minute Attribution, that monitors website traffic immediately after an ad was broadcast on television or the radio. In the eight-minute window that follows the airing of an ad, the software measures numerous metrics including website traffic and search traffic.
•  Attribution products include AnalyticOwl for web attribution and DirectionOwl for foot traffic attribution, but the company offers several other products and services, including A/B test plan builders, custom website development services, benchmarks, unified reports, and a streamlined sales app. AnalyticOwl helps users identify which creatives, programs, dayparts, or days of week will most likely elicit response. DirectionOwl, on the other hand, makes use of geo-fencing to track foot traffic at physical locations.
• AnalyticOwl caters to advertisers, agencies, and media companies. AnalyticOwl's competitive advantage lies in the fact that it is "the industry leading, first-to-market platform for media analytics and attribution." AnalyticOwl's platform is the first attribution platform to be used by leading media companies. It is also the first attribution platform to track both pre-recorded spots and live read endorsements.
• There are no user ratings or reviews of AnalyticOwl in the public domain. AnalyticOwl is not listed on business software review sites Capterra, G2, TrustRadius, and GetApp, and there are no articles or reports that rate or review AnalyticOwl, or compare AnalyticOwl with other attribution software.
• Bob McCurdy, the Beasley Media Group's vice president of sales, had high praise for AnalyticOwl's expertise after meeting with the AnalyticOwl team in 2018.

VERITONE

• Veritone's advertising attribution solution is Veritone Attribute. Veritone Attribute is just one of the seven artificial intelligence-powered applications that Veritone offers.
•  Veritone Attribute offers near real-time radio and television advertising attribution. Its target users are radio and television broadcasters.
• It analyzes the playout logs and live programming of broadcasters and the website Google Analytics data of advertisers to come up with placement analytics, daypart analytics, web analytics, and creative analytics. Ad efficacy reports are the final output.
•  Functionalities include ad verification, ad efficacy measurement, organic response measurement, customer report curation, and advertising campaign optimization, while features include behavior analytics, campaign management, watchlists, intelligent attribution, near real-time data, and reports and dashboards.
• What makes Veritone Attribute stand out is the recognition it has recently received. At the 2019 National Association of Broadcasters (NAB) Show that was held in Las Vegas, Veritone Attribute won the Product of the Year Award in the category Best New Radio Technology.
• There are no user ratings or reviews of Veritone Attribute in the public domain. Veritone Attribute is listed on business software review sites Capterra, G2, and GetApp, but there are no reviews of the software yet. There are also no articles or reports that rate or review Veritone Attribute, or compare Veritone Attribute with other attribution software.

RESEARCH STRATEGY