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Connect Marketing to Revenue With Performance Measurement

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2 Step 1: Gather clean, complete data. Often, when we talk about performance measurement, our minds jump to the attribution models involved. But before worrying about advanced attribution modeling, it's best to start with the foun- dation. In reality, getting to accurate, actionable attribution insights is usually much more of a data prob- lem than simply a model problem. Implementing an advanced attribution model—such as a cus- tom heuristic or even machine-led model—can be helpful, but only if the data being fed into that model is accurate and complete. Before you analyze your data to begin calculating ROI, it is best to ensure that data is clean and reliable. The legacy approach to most organizations' data lifecycle typically looks like this: Using this process can help your business begin to attribute the economic impact of your efforts, but it is not without limitations and inefficiencies. What this process lacks is upfront data standard- ization and unification. As a result, the cleanse, normalize, and combine phase of this model is often time-intensive, expensive, highly manual and less capable of giving you critical insights right when you need them. The most efficient way to collect clean and complete data looks more like this: You can attempt the first step of the above model by employing rudimentary UTM builders or cre- ating campaign tracking IDs using a series of complex spreadsheets. However, attempts to stan- dardize data in this way typically lead to different tracking methods across teams or campaigns and different levels of granularity being used for each channel—so you are never truly able to sys- tematically standardize all the data. The only way to truly standardize and unify your data is with an enterprise-wide taxonomy—ideally with built-in governance and automation—that ensures standardization before data is collected. This allows you to skip the cleanse, normalize, and combine phase of the data lifecycle and achieve a quicker time to value, enabling you to see the revenue impact of your efforts in time to adjust strategies and drive greater growth.

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