You Don't Need a Single 'Uber' Model to Make Data-Driven Marketing Work
Posted in: UncategorizedEver since digital advertising emerged as a meaningful allocation of marketing budgets, brands have been frustrated with the way it has been measured.
Digital consistently seems underrepresented in marketing mix models, which don’t properly account for digital’s comparative role or provide timely signals for how to optimize digital spend. In response to these shortcomings, the industry has turned to “fractional” or “multi-touch” attribution models, which attempt to divvy up credit for results among each point of contact with a consumer along the way. But most marketers have found that, in practice, these have fallen well short of their promises, leading many to disregard them altogether.
In order to shed light on marketer’s discontents, Forrester published its Marketing Measurement and Optimization Solutions Wave in October of 2016. Their conclusion? Marketers need an “uber-model,” one that combines the characteristics of marketing mix and fractional attribution, all at once.
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