If there’s one thing that makes advertising measurement consultant Andrew Covato roll his eyes and shake his head, it’s the endurance of last-click attribution. Last click may seem “simple” and “tidy,” Covato says, but it doesn’t reflect the full funnel.
Most people have already heard of Pizza Hut. But high awareness isn’t enough to generate new and consistent sales. Which is why well-known brands like Pizza Hut are looking to new channels, including CTV, to drive incremental sales by reaching younger and, hopefully, incremental audiences who could eventually turn into repeat customers.
Machine learning and statistical models have evolved to provide an extremely sophisticated understanding of the contribution of each marketing investment and the interactions between them. But models can leave marketers vulnerable to misguided decisions and the underutilization of data and analytics, which inhibits them from realizing the full value of the insights the model can provide, says Alice K. Sylvester, Partner at Sequent Partners.
American Express is investing in measurement technology to try and give credit where credit is due. Since 2019, Amex has been moving away from multi-touch attribution and embracing marketing mix modeling and machine learning to power its approach to measurement.
While marketers have spent years perfecting their attribution models, once cookies are gone – and it’s coming sooner than you think – multitouch attribution (MTA) models will be obsolete, says Jason Wulfsohn, CEO and co-founder of AUDIENCEX.
“Data-Driven Thinking” is written by members of the media community and contains fresh ideas on the digital revolution in media. Today’s column is written by Nancy Smith, President and CEO of Analytic Partners. While Google’s delayed plan to end the third-party cookie gives advertisers a sense of relief, data deprecation will still continue. The Google […]
“Data-Driven Thinking” is written by members of the media community and contains fresh ideas on the digital revolution in media. Today’s column is written by Matt Voda, CEO of OptiMine Software. There’s no denying that we’re living in a period of massive disruption to the way in which data is used for marketing. Cookies are (finally) […]
Direct mail has always performed well for Citibank. But like most advertisers, if the company wants to push more dollars into digital, top brass expects marketing to prove the impact on short-term revenue growth. With digital, it can be technically easier to prove – in near real time – what drove a conversion rather than […]
Facebook is activating marketing-mix modeling across Instagram, Audience Network and Facebook proper. On Tuesday, Facebook rolled out a portal that lets advertisers pull campaign data for cross-channel measurement. Only aggregated data will be available across ad formats – reach and volume of impressions by week and geographic area. But it represents another chink in the garden […]
