Develop your organization to consistently deliver successful products
"Half the money I spend on advertising is wasted; the trouble is I don't know which half,” stated John Wanamaker a century ago. As a very successful business man, he knew what he was talking about.
In the digital era of today this is no longer the case. Especially for companies that operate in a purely digital way. They know exactly what’s impacting what and know for any Euro spent in marketing, what the return on investment is.
Most companies however, still operate in a hybrid world, where the physical and digital intertwine.
Industries that evolve around investment goods enjoy a lot human interaction with complex ‘decision making units’ interacting with complex ‘problem solving units’. Also, organizations offering complicated solutions in the market or are supplying items that have a low frequent purchase behaviour, are characterized by physical interactions dominating digital ones.
Companies operating in these hybrid worlds, experience more difficulty in knowing what brings value and what doesn’t. They have a hard time identifying the impact of their actions in the market.
Without a clear understanding about cause and effect, it is nearly impossible to steer your team’s activities in the right direction.
Revenue attribution can help these companies lift the veil that is blinding them and hampers their performance. By using this methodology, both sales and marketing leaders will be able to measure the return on investment of the various actions they undertake to persuade customers to place an order.
Armed with this knowledge, companies can start focussing more on the actions with the highest ROI, increasing the performance of their teams.