A review of over 60 different marketing studies has shown that more than 40% of advertising spend is completely wasted.

Wicked Reports just upgraded the ROI report March 26th 2020, here are the highlights:

Today we explain marketing attribution with a role play.  The role playing kicks in at the 90 second mark!

First-party data is the data you have collected about your customers or audience, you own and manage. It can come from your own website through cookies or via your app, CRM, customer feedback, in-store beacons, purchases, contact center, point-of-sale communication, or any other information given with the consent of users. It is a result of direct, trusted relationship and communication with a consumer, which makes it the most powerful. Owning first-party data also gives you the freedom to create your own segments and profiles based on the unique consumer data you have on hand. First-party data is considered to be more valuable and relevant through its specificity and quality compared to second or third- party data.

“I almost canceled my most profitable ad campaign because I was measuring response every week instead of every month.”

“I stuck with an email offer that worked great although those leads took much longer to convert.”

One of these marketers understands the value of knowing how long it takes to convert a prospect into a customer. He can market smarter, report results accurately, and get the best ROI,

Understanding how much money your leads continue to spend with you is an extremely important data point.

If over time Leads that you find through Source A tend to spend way more money faster than Leads who were found through source B, you would likely want to focus your efforts on Source A Leads.

Knowing and understanding your marketing data helps you:

• Stop “spray and pray” marketing. With Wicked Reports you won’t have to guess or take stabs in the dark. When you can see the exact impact of each marketing campaign, you can see exactly what works and what doesn’t. You can learn from your mistakes and build on what’s working.
• Stay focused on the metrics that matter. Modern marketers have access to so much data that it can be hard to know what’s important and what isn’t. Wicked Reports helps you stay focused on what’s important — the ROI of each marketing campaign. By focusing on real results — revenue, customers, and orders — you can avoid being distracted by vanity metrics and other statistics with little correlation to your bottomline.
• Invest your time wisely. When you invest your time into a marketing campaign, you’re missing the opportunity to invest it elsewhere. If you invest your time into a marketing opportunity that returns 20% and you could have invested it into a marketing campaign that returned 200%, you just cost your business 180% of the ROI it could have had.
• Save on marketing and advertising spend. When you can see exactly how well each paid ad performs, when you can see the exact impact on your business in terms of revenue, you know which ads you should kill off and which ones you should invest more into.
• Piece together your business’s unique growth plan. As Wicked Reports reveals the true ROI of each marketing campaign, and shows you where your best customers are coming from, your business’s growth plan becomes clear.

This last point deserves a bit more attention because it gets to the core of why marketing is so important to your business… effective marketing creates customers and helps your business grow.

Attribution is tricky when it comes to recurring revenue, because is is critical to track lifetime value. This is where Wicked Reports shines! So it’s easy to assume that the last marketing email or online ad is what got a customer to purchase. But you’re probably wrong. Let me tell you a secret: the most important factor is time.