Media Attribution
How do you really know what is working in your marketing mix to contribute to that increase in profits?
How do you eliminate what is not working and inhibiting profit increases?
It’s our job to know those details and provide comprehensive campaign reporting and maintenance, as well as accurate media measurement and KPI reporting.
LeadsRx – Our Attribution Partner provides a marketing attribution platform to track your prospect-to-customer journey. Together, we provide impartial, multi-touch attribution (MTA) – read on to find out why it is important to us, and why it should be important to you.
Built For The Australian Market – We have further developed the software to work in the Australian media markets. Unlike many US based attribution products, we have mapped to every Australian media market across metro and regional. Want to track Radio in Ballarat? – Fine. Want to pull out the Wide Bay split on TV in Queensland? – Done. It is this level of Australian accuracy that allows us to build the best attribution models possible.
An Impartial, Cross-Channel View – Our job is to manage the marketing channel landscape for you via any online channel that advertises and markets your brand. Attribution provides an impartial, cross-channel view of the entire customer journey to see exactly where in the sales funnel people are acting, reacting and converting.
Identifying Touchpoints – Using attribution, we can identify the specific touchpoints that are influencing new customers. This helps us optimize your ad dollars and focus that ad spend in the right places at the right time.
Connecting the Dots – Attribution connects the dots between mass-scale marketing plans and customer acquisition, ultimately improving the bottom line. We look to attribution to provide the customer intelligence we need to make you successful. Impartial attribution empowers us to make intelligent pivots in the marketing strategy we are implementing on your behalf.
Bottom-of-Funnel Focus – We are able to focus on the bottom of the sales funnel, where conversions happen. By doing so, we are not reliant on reports that show only top-of-funnel activity. Knowing about leads in the top of the funnel is great; but identifying conversions coming out of the funnel are, well, where the money is. With attribution, data on customers making purchases is influencing future marketing dollars go. With those insights, we can rev up marketing campaigns and improve your top-line growth.
Additional Benefits of Impartial Multi-Touch Attribution
Imagine being able to dial in your radio, podcast or OTT ads so they were driving more traffic to your website and/or physical traffic to your brick-and-mortar storefront. Now imagine having insights from data that shows how those channels – and all other marketing channels, including paid search ads, social media advertising, email campaigns etc. are working together to promote your business and push conversions.
What if the data shows that your podcast ads are just not as effective as your radio ads, or vice versa? Because multi-touch attribution looks across all channels, without bias, we can make adjustments to your campaigns in real-time. Those podcast ads are not as effective, but radio ads are rocking the conversion charts? Move some podcast ad spend to radio. That Facebook ad campaign brought in 20% more revenue than your OTT ads? Push some OTT ad dollars to Facebook.
In two months, those trends could reverse. MTA allows us to keep your campaigns fluid, make updates and continually optimize your marketing budget.
Media Agency Business Model
The media agency business model fluctuates with the times, the scale and size of the agency and with the economy.
One benefit of the extinct media accreditations was that media agencies were given a mandatory commission that was formally agreed upon and the discount from the media owner was generous and outlined.
Media agencies can still opt for commission and although they’re still the clear avenue for getting discounts when buying placements, commission isn’t compulsory plus negotiating discounts aren’t set in stone so they can change at the last minute.
Another factor to consider in the business model is that due to the sheer number of media buying or full-service agencies in the market, competition is fierce and unfortunately (for us) that means service fees have gone down from around 7.5% to 2/3 % over the past 20 years.
Media agencies are either part of a network (nationally or globally) or they’re independent. Both have their obvious pros and cons but in our slightly biased opinion, we’ll outline a few.
If you’re working with or for a media agency that is part of a larger network, you can bet there are outside pressures and constraints that will effect the output or work.
Usually, KPI’s come from overseas and have no real relevance or understanding of the Australian advertising landscape – this can cause time and resources to be allocated to an irrelevant area. Some insights can’t be found in Datastudio but are much more valuable.
Small, independent agencies in Australia account for a huge portion of the media industry and for good reason. We’re known for being nimble, forward thinking and a little more personable if I do say so myself. We want to deliver the best outcome possible for our clients, not for someone sitting in Accounts on the other side of the world.
Working with small agencies gets you the benefits of media discounts, adaptable media planning and tailored, data driven strategies unique to each individual client.
A Real Advantage for B2B
Multi-touch attribution also helps B2B companies excel. Whether you are the final decision-maker or reporting into the C suite, having data and insights from MTA makes your job a lot easier. Its powerful to be able to give your CFO a report that shows how particular marketing campaigns are improving ROAS, and what adjustments you’ll be making to further spend optimization and revenue increases relative to that spend.
From analyzing data from cohorts – groupings of prospects or existing customers with similar traits – to helping improve account-based attribution (the next level of account-based marketing), to integrating attribution data into existing tech stacks (CRMs, business intelligence tools), we use all of this knowledge obtained from the LeadsRx platform to help B2B organizations close more deals.
If you want to know the nuts and bolts of how multi-touch attribution works – the technology behind it – LeadsRx explains it all here, including a handy video that walks through how its LeadsRx Universal Conversion Tracking Pixel™ works.
If you want to learn more about how we use attribution on your behalf, call us at 1300-343-764 or email contact@mkmedia.com.au.