Adobe Analytics Introduces Attribution IQ
At Cannes Lions this week, the big theme will be around the powerful force that creativity is in today’s world. For Adobe, we couldn’t agree more. That said, we also believe that creativity has fundamentally evolved; In a world where consumer expectations are on the rise, with more and more ways to reach people, the most impactful campaigns are informed by deep audience insights. Brands are under pressure to show that ad and marketing spend are being made in the right places. And deciding the right mix between options such as digital advertising, email and content marketing is a crucial step in allocating resources and informing creative work—but this is often done with blinders on. Without the proper data, brands make the wrong investments and risk frustrating customers. As consumers embrace more technologies like voice and connected car, this problem will only get worse.
To address this problem for brands, Adobe is introducing Attribution IQ in Adobe Analytics Cloud today at Cannes Lions, a new solution that taps the power of data to fuel marketing strategy and creativity. It allows brands to break from the reliance on first-touch and last-touch attribution, to better meet the needs of understanding modern consumer behavior. Attribution IQ delivers a comprehensive set of ten models to capture the different ways in which consumers are influenced and is the only solution in-market that allows you to dive deeper into the specific campaigns, products, or internal promotions, giving fair credit to the impact of channels like social and mobile while showing how this differs amongst different individuals, products, or creative campaigns. Instead of seeing the first and last scene of a movie, brands can now access the full film.
Many retailers who are facing the threat of declining foot traffic and digital competitors, can now more intelligently increase marketing spend online and roll out new creative campaigns with appropriate justification to warrant their decisions. Through Attribution IQ, retailers can now see that paid and organic social (as an example) are actually driving customers of particular segments — such as female millennials and Gen Z—to revisit and complete cart purchases where that was invisible to them before.
Attribution IQ will be available in Analysis Workspace within Adobe Analytics, enabling marketers to visualize the customer journey and all the points at which they interact with the brand. It builds on Adobe Analytics’ broad support for every channel out there, from desktop web, mobile and social, to voice analytics and the connected car. Analysis Workspace has long given brands the ability and flexibility to truly drill into their data. Instead of simply comparing display versus social ads for instance, users can now see how individual campaigns and even specific keywords performed using a rich set of attribution models. This further enhances the integration between Adobe Analytics Cloud and Adobe Advertising Cloud, helping brands make more informed decisions around planning and ad spend.
When we speak with brand leaders, nothing keeps them up more at night than their budgets. Everyone is trying to show business impact and deliver the most impactful campaigns, but lack the data to justify investments in areas like social and mobile. With Attribution IQ, we are delivering a flexible way for advertisers and marketers to show where they drove value, and move the entire organization beyond simple vanity metrics that ultimately paint an incomplete picture of the customer journey.
Learn more about Adobe Analytics Cloud here.