Although attribution is critical to understanding which marketing tactics are paying off, new research suggests that marketers are still behind in implementing these capabilities.
CallRail recently conducted the “Attribution Report: How Today’s Marketers Measure Campaign Performance,” and statistics showed that 36% of marketers still lack insights about the effectiveness of their tactics. About 76% have attribution capabilities set up for online form submissions, while 71% have them in place for email. Approximately 64% have the capabilities in place for social media, and 55% have them intact for online chat.
Nearly 81% of respondents claimed that their company spends at least some of its budget on ineffective marketing tactics.
The majority of marketers (36%) said that they have poor insight into which tactics are effective or ineffective, and it’s hurting the success of their marketing efforts. About 24% said they have a lack of understanding of their target audience.
Using Social Media to Reach Key Audiences
To better resonate with their target audience, more marketers are turning to social media – specifically Instagram – to make an impact, according to previous research.
Social Media Today published the “Instagram Marketing Survey Report,” and statistics showed that 90% of marketers are now using Instagram for marketing purposes. Out of all of the features that marketers are using, Stories leads the way, with 81% stating that they use it to resonate with their main audience.
“Without a doubt, Instagram Stories, which now has more than 500 million daily active users, is fast becoming a must-have in social strategies today,” wrote the authors of the report. “While some businesses may not think it’s relevant to their particular audience, and they may not feel like their brand has anything to create Stories about, the feature is becoming a key platform within itself.”