In a utopian world, we all know exactly what return we get from our Marketing spend.
In the real world that's not quite correct though is it? All too often we're working with first touch and last touch analytics. It's a guide, but surely we can get better?
Analysing customer journeys and creating control groups is a great start. As with everything it's not perfect (mainly because humans will need to update CRM as well as machines), but it is a step in the right direction.
I dream of a day that we're sat with 100% knowledge on what is and isn't working, Until that day Kingpin will keep searching for the answer.
When applied across marketing activities, cause-and-effect analytics allow executives to understand the real return on investments and inform better budget allocation decisions. Further, companies can analyse individual programs (e.g. annual conferences, specific email campaigns, etc.) through this test versus control lens to reach unprecedented levels of accuracy and granularity. By segmenting results, organisations can understand which accounts will respond best to a given marketing program and see which aspects of the program are most effective.