CallRail’s latest report finds marketers agree attribution is critical for optimising their decisions, but lack insight into which tactics are most effective.
A new report released by CallRail reveals that 96% of marketers agree attribution is critical to informing and optimising marketing decisions, but 36% say the lack of insight into the effectiveness of tactics is the most detrimental factor to their marketing efforts. According to the data, marketers agree on one thing: everyone wants better attribution. From a growing number of ways for consumers to get in touch with businesses to an overwhelming menu of technology platforms, the struggle to prove ROI is only going to increase.
To better understand common pain points among marketers and how attribution impacts business decisions, CallRail surveyed 300 marketers, including 75 marketers who work in agencies serving multiple clients. In addition, CallRail surveyed 1,000 U.S. consumers who have researched and purchased products and services across the automotive, healthcare, telecommunications and other industries to determine expectations customers have when engaging with organisations across conversion points. Both surveys shed light on what marketers need to do to meet consumer expectations and where they currently stack up.
The data found that 76% of marketers have configured attribution for online form submissions and 71% support email attribution. However, fewer marketers say they support attribution for channels like social media conversions (64%), phone calls (57%) and online chat (56%), indicating massive amounts of data is sitting idle when it could be used to improve the customer journey. Without marketing attribution in place across all of these touchpoints, marketers lack clear insight into what’s working and what’s not. Additional key insights from the report include:
If you’re not tracking calls, you should be. Across industries, a phone call is the preferred method of communication for both low-value (61%) and high-value (72%) transactions, and 91% of consumers are more likely to trust a business if they can easily reach a person on the phone. However, only 57% of marketers have phone call tracking capabilities enabled. Without call tracking, marketers are missing a key opportunity to mine a wealth of information about their employees and callers, and better qualify real leads.
Customers expect immediate responses and will move on quickly. More than a third of consumers (39%) said they would abandon an attempt to contact a business if the business takes too much time to reach out after an initial point of contact. Further, the majority of customers won’t wait more than three days after contacting a business (84%) before moving on to a competitor — with 29% of those consumers only giving companies a day to contact them after reaching out initially. This means many companies are losing customers because it takes them too long to reach out after an initial point of contact—many of which are phone calls.
Marketers are suffering from tech fatigue. Almost 51% of marketers use four or more marketing platforms, and 75% say they spend too much time reporting on marketing performance. Marketers with five or more solutions are even more likely to say they spend too much time reporting performance (84%). Multiple, incompatible platforms often create more problems than they solve because they don’t integrate correctly with each other, or they might use different attribution models that provide conflicting narratives.
“While many marketers have attribution solutions in place for some customer journey touchpoints, we found that few have a truly holistic approach,” said Mary Pat Donnellon, CRO of CallRail. “It’s important for marketers to address this gap so that they can focus attention and resources on the marketing tactics that are most valuable to their revenue growth. With every digital marketing platform offering its own set of performance data, it’s easy to understand why marketers feel overwhelmed when tackling the attribution challenge.”