I know it's hard to believe but enterprise marketing decisions are made every day based on the single source lead attribution model, be it first or last. Mr. Vendor, your fate is in my hands. I pick the wrong one too often and watch your ad budget get wacked. Moronic isn't it?
So we all agree that 98% of the time, no SINGLE ad source should receive credit for the SALE!
We all agree that the structure of our Industry CRM's and their corresponding reports that attribute a sale to 1 ad source (first in or last in, no matter) is potentially causing dealers to make bad decisions on where they should be spending their marketing dollars.
"Experience" has been the buzzword across the industry conferences and media outlets for the last few years.
"Attribution" will be the buzzword to replace it in 2016-17. With the eruption of so many marketing channels
and devices, the inability to accurately track marketing to sales attribution; assigning credit to a marketing touchpoint, has never been more complicated.
Yet most dealers still overlook the need for a skilled marketing director or coordinator. I have yet to see a CRM that goes much further than reporting one ad source per customer lead or insisting the choice of ad source by drop-down menu when manually entering a new customer opportunity.
The goal of attribution is to assess the value of each marketing touchpoint so you can spend your marketing budget more effectively.
What are some ideas you/we can share with the Refresh community OR how have you been tracking your marketing attribution, past assigning a single ad source to the sale?