Tag: Attribution

How to use MMM and MTA correctly?

There is a variety of tools for measuring marketing effectiveness and even more solution providers on the market. Using the right ones is crucial for your business success. In this article you will find out how to choose the most suitable vendor and correctly apply marketing mix modelling and attribution to achieve outstanding results. Now there are no doubts about whether to evaluate marketing performance because statistics and analytics is more reliable than experience and gut feeling. According to Gartner’s 2018 survey, where 503 respondents from large companies were interviewed, marketers who use strategic measurement tools report significant performance improvement. It happens because high-quality measurement allows improving planning capabilities and increase enterprise value. The debates now are going on about which tool is the most suitable to evaluate marketing effectiveness. Keep in mind that before applying any measurement approaches define what success should look like and choose the right KPIs that align with your overall strategy. Strategic marketing measurement is on the rise for three reasons: Significant performance improvement; Increasing cost of media; for example CPM for primetime TV has increased by 43% over the last 5 years. To justify growing spends or find new, more efficient channels high-performing marketers… Read more »

Improving marketing effectiveness. Part 2: How to measure?

Most companies face the challenge of accurate assessment of their marketing activity results, and with numerous tools and approaches available in the industry it is easy to get confused. Companies should choose wisely and act quickly to keep pace with trends and generate business growth. A white paper on marketing effectiveness by global consultancy Gain Theory helps to do just that, and in this article we cover the most informative and interesting insights, including those from marketing top managers of 40 large UK brands that together spend over £7bn on advertising. After we have agreed on what marketing effectiveness is, understood where we stand in terms of progress and chosen the crucial metrics, it’s time to move on and find the most suitable measurement tools and approaches to building an effectiveness team. Best Available Tools Test & Learn – the idea to compare the results of test and control groups is not new, but advanced online data collection technology really makes a difference. The advantage of this method is that the results can be easily analyzed, but there are some challenges and necessary conditions if you want the results to be accurate: – success is clearly defined the hypothesis you are testing;– group… Read more »

Cross-media measurement tools

One of the topical problems in 2019 is digital advertising and cross-media measurement. Since there is a growing number of complex techniques and methodologies, but no unified approach, most companies lack expertise to deal with it. Here we cover various measurement tools and their cross-platform application. Created in 1997, Interactive Advertising Bureau UK (IAB UK) is a trade association, promoting sustainable development, the best practices and standards for advertisers, agencies, and media owners. Their goal is to address challenges the industry is facing and offer some solutions. Our article is an overview of the guide for marketers on best practices today that AIB prepared with MTM. Here you will find some useful advice on what models and techniques to use for digital advertising measurement within the environment of various media, both large-scale and more granular analyses. You will see how to combine them to your best advantage and create your own measurement strategy. There is no simple answer and solution to successful and effective advertising measurement because so many aspects need to be considered, like audience, media consumption, views, individual and combined performance of media channels, ad effectiveness and business outcomes. This article covers the last two aspects in the… Read more »

Media Measurement Tools

According to EXL Service, retail CMOs and marketing managers invest 8-10% of their sales revenue into marketing. An important thing here is to distribute this budget between different media channels in the most effective way and make sure that all the money spent pays off. What we need is metrics that accurately reflect ROI on a sufficiently granular level; unfortunately for now, media measurement is not keeping pace with business needs in this rapidly changing media landscape, shifting from TV to a multi platform video. On CIMM’s request, the current state of marketing/media ROI analysis was analyzed. The Coalition for Innovative Media Measurement (CIMM) is a group of content providers, buyers and sellers promoting innovation for Television, Internet, Mobile and cross platform audience measurement in the USA. Among CIMM members are CBS, Discovery, NBC, P&G and The Walt Disney Company. In this article we are going to provide a brief overview and comparison of two major tools that are currently used to measure marketing/media ROI, which are: Marketing Mix Models (MMM) Attribution ​ Attribution and MMM are different analyses that are implemented with the same purpose: to find out if the budget is right, how to fine tune the media… Read more »