While attribution has been around two decades, a great breakthrough for digital, the deprecation of third party cookies is likely to have a significant impact. Options to MTA include: walled gardens, focused on one channel only, and data clean rooms such as those operated by the identity companies. Cleanrooms are data intensive but much better than single channel walled gardens.
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.
Consumer behaviors have changed dramatically creating new challenges for brands and their marketing measurement. During this Insights Studio, we explored the measurement challenges brands have faced in the wake of significant consumer changes. We also discussed best practices brands should be using to ensure their marketing measurement is set up for future success as consumers continue to react to major societal change. Executives from OptiMine, an agile marketing analytics provider, Kepler, a global digital agency, and Beachbody, an innovative health and fitness company, shared their observations on how changes in consumer shopping and media consumption behaviors have been reflected in marketing measurement.
The NBA tested an attention metric for digital media ad placements developed by Adelaide–called the AU–to increase tune-in to the NBA Finals and to improve its brand metrics. They leveraged the AUs of their CTV and digital placements to optimize a large campaign across CTV, digital, social, and OOH with over two billion video impressions. They also used the AUs, which they obtain in near real-time, to adjust those placements in-flight. They found that AUs lifted their KPIs and will incorporate them into their media mix models. Adelaide is also working with TVision to get AUs for linear television by daypart and genre. Their tune-in data was provided by SambaTV.
On April 7, the Women in Analytics Group held a mentoring meet-up about strategies for managing internal and external relationships. Ramla Jarrar, Founder & CEO of Mass Analytics and Therese Glennon, VP at Bristol Myers Squibb, shared best practices for building and maintaining relationships in-person and remotely. After the mini talks, each speaker met with half of the attendees and then switched groups to meet with the other half of the attendees.
On October 19, 2022, the ARF Cross-Platform Measurement Council brought together a panel of performance marketing experts to discuss the importance of model validation. Attendees gained a greater understanding of why it’s important, all the ways it can be done, the various types of validation methods, as well as how to implement the results. Jim Spaeth (Partner, Sequent Partners) moderated an insightful discussion with experts Ron Berman (Assistant Professor of Marketing, Wharton Business School), Elea Feit (Associate Dean of Research and Associate Professor of Marketing, Drexel University’s LeBow College of Business), and Sachin Puri (Chief Marketing Officer, WP Engine).
Maggie Zhang of NBC Universal invited all the presenters back to a wrap-up session called “Attribution Pivot,” where she asked what challenges marketers are facing and how they are meeting them. Each provided insight into important attribution challenges that they as a marketer or their client is facing. Limitations include lacking the ability to do A/B testing, privacy issues and the looming issue of cookie depreciation. It is also difficult to determine long-term lift, such as lifetime value.
Stu Schwartzapfel of iSpot.tv and Traci Will of Gamut talked about dealing with the challenges of local OTT attribution. While national brands have been a fixture on streaming platforms for a while now, smaller and local brands are just beginning to dip their toes into this space. Industry challenges include a lack of standardization of measurement, a national versus a local focus and careless measurement which can have confusing results.
Carl Mela (Duke University) helmed a panel of the day’s presenters to further review the “vanguard work of MMM in 2022.” Granularity inspired the most debate among the panelists, with other topics including causality, cadence of modeling vs. decision-making, false trust in priors, marketing mix model (MMM)’s worst mistakes and lack of precision, and methods for long-term ROI and branding meriting discussion.