In this discussion for the track, Attribution & Approaches, session chair, Paul Donato (ARF) asked the speakers for their key insights on the drivers of short-term and long-term sales, the role of match control, and whether testing control should be part of attribution and ROI.
This presentation is based on the latest IJRM publication focusing on short and long-term effects in the consumer purchase journey, focused on two key issues facing marketing response modelling. Peter explained that the standard marketing mix model (MMM) fails to resolve two key issues: it ignores inherent selection bias of online media and the true mechanics of brand-building. Both issues result in significant mis-estimation of ROI and incorrect marketing resource allocation.
Carolyn Murphy of WARC began her session on stimulating and measuring creativity by diving into the relationship between creativity and effectiveness. While the link between creativity and effectiveness is backed by a strong body of research, the focus on the importance of creativity has waned recently, with the rise of digital commerce, performance marketing and retail media networks. Carolyn suggested that marketers and advertisers regain the focus on the value and benefits of creativity in newly emerging channels, which was backed by more recent research. Carolyn noted that creative is not a replacement for an ad budget, but a way to “supercharge” the effectiveness of that campaign. Success is likely when “when creative is married with your overall strategic planning, in a media plan that’s comprehensive.” To provide a framework for success, WARC, James Hurman and Peter Field created the Creative Effectiveness Ladder. This six-tiered model scales around how to measure your creative to see what effective outcome it will have.
Analytic Partners’ Trent Huxley interviewed client Mallory Fetters of Cox Communications on the telecom’s marketing measurement strategy. Dealing with constantly evolving challenges, both common and specific to its industry, Mallory expanded on how data deprecation, shifting consumer media behaviors, demand for faster speeds and growing consumer choice and competition rapidly accelerated Cox’s learning curve.
The boldest and brightest minds joined us November 14 - 17 for Attribution & Analytics Accelerator 2022—the only event focused exclusively on attribution, marketing mix models, in-market testing and the science of marketing performance measurement. Experts led discussions to answer some of the industry’s most pressing questions and shared new innovations that can bring growth to your organization.
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On October 13, 2022, industry leaders joined us for an inaugural Creative Effectiveness event on how to stimulate great creative and measure it. Panelists shared innovative and experiential formats as well as new approaches and tools in support of building and measuring campaigns. The event was followed by the ARF David Ogilvy Awards reception.
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