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With marketers facing increasing pressure to demonstrate the value of the budget they’re allocated for programs, marketing attribution and predictive analytics solutions are tailor-made for proving how tactics and media channels contribute to the bottom line.
Given all of that promise, marketers are certainly evaluating these technologies and one crucial part of that process is the demo. It’s important to set up demos within a relatively short time frame of each other to help make relevant
comparisons.
Make sure that all potential internal users are on the demo call, and pay attention to the following:
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Here are 19 questions to ask each vendor that will help you narrow the field:
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What it is. Marketing attribution and predictive analytics platforms are software that employ sophisticated statistical modeling and machine learning to evaluate the impact of each marketing touch a buyer encounters along a purchase journey across all channels, with the goal of helping marketers allocate future spending. Platforms with predictive analytics capabilities also use data, statistical algorithms and machine learning to predict future outcomes based on historical data and scenario building.
Why it’s hot today. Many marketers know roughly half their media spend is wasted, but few are aware of which half that is. And with tight budgets due to the economic uncertainty brought about by the COVID-19 pandemic, companies are seeking to rid themselves of waste.
Attribution challenges. Buyers are using more channels and devices in their purchase journeys than ever before. The lack of attributive modeling and analytics makes it even more difficult to help them along the way.
Marketers continuing to use traditional channels find this challenge magnified. The advent of digital privacy regulations has also led to the disappearance of third-party cookies, one of marketers’ most useful data sources.
Marketing attribution and predictive analytics platforms can help marketers tackle these challenges. They give professionals more information about their buyers and help them get a better handle on the issue of budget waste.
Read Next: What do marketing attribution and predictive analytics tools do?
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19 questions to ask marketing attribution and predictive analytics … – MarTech
