Marketing attribution offers a way to quantify ROI and gain efficiencies across channels, strategies, and tactics, as well as to identify specific changes that can be made to a marketing mix to dramatically increase its overall performance. When Dell decided to implement an advanced attribution solution, it was looking to build a scalable foundation that would enable it to increase the effectiveness of the brand's audience targeting, improve its understanding of customer behavior, and answer key questions related to marketing spend, according to Anil Dania, digital solutions lead of marketing decision sciences at Dell.
Dania joined Manu Mathew, co-founder and CEO of Visual IQ, for a Spotlight presentation at the iMedia Brand Summit, during which he detailed his brand's initial successes in implementing a sophisticated attribution program powered by Visual IQ's cross-channel marketing attribution management platform. "We were looking to optimize sales and marketing through a deep understanding of our customers' values and journeys," Dania said.
In implementing Visual IQ's attribution solution, Dania noted that it was vital for his team to do the following:
- Gain key stakeholder engagement and support
- Identify and gather their many disparate data sources
- Establish a common set of KPIs across channels and departments
- Normalize their data to a common format
- Configure an interface for viewing and analyzing the data
During this process, Dania said he learned that a great deal of due diligence is required, given the quantity and complexity of data sources. Likewise, he noted that organizational change management at Dell was required for adoption. But ultimately, the process has been worth it. After initial implementation, the marketing team realized that its spending on display and organic search was being undervalued, while its spending on affiliate and paid search was being overvalued.
Armed with new insights, Dell has been able to take great strides in the optimization of its marketing spend. Consider the following achievements by Dell's team to date:
- Identified $700,000 in annual savings by implementing frequency capping on just two of its largest display publishers
- Saw an incremental $2 million in annual revenue through the reallocation of that $700,000
- Optimized display campaigns at the placement level to generate $5.6 million in annual incremental revenue
Importantly, these gains have had organizational implications for Dell as well. Dania noted that the implementation of an advanced attribution solution has contributed to the normalization of marketing objectives across departments, creation of shared goals across departments, and optimal team decision making.
Going forward, Mathew noted that Dell is looking to roll out its attribution solution globally and expand its reach to include both offline and online channels. Ultimately, the visibility gained at the user level will be leveraged to implement detailed site-side personalization -- a win-win for the company and its customers alike.