The number of marketers who plan to use multi-touch attribution (MTA) in their evaluation of consumers’ path to purchase could double within a year, according to a survey by the Mobile Marketing Association.
As reported by Advertising Age, the trade body has found that under a third of marketers currently use MTA in their campaigns, but it is expected another 35% will try the process out.
If that happens, it is reported that online video and branded content will benefit from the shift to MTA at the expense of paid search – a development that Advertising Age says “could reshape marketing spending for years to come”.
According to Sanjay Gupta, chief customer officer at TIAA, who has been working with the Mobile Marketing Association on its Marketing Attribution Think Tank initiative to improve analytics across media, that’s because last-touch attribution places too much emphasis on paid search.
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The ways to measure marketing effectiveness vary from brand to brand and campaign to campaign and can run the gamut from digital attribution to econometrics.
What marketers won’t find, however, is one technique that works in all circumstances. That’s the conclusion of the latest video in our series on marketing effectiveness, created in partnership with Thinkbox.
“There are lots of techniques, they’re all good in their own right, but there’s no one technique to rule them all,” says Matthew Chappel, partner at Gain Theory. “It’s about working out what the objective is, what the challenge is, what data you’ve got to fuel these, and then using all of those together to come up with the right technique for you.”
Yet Mark Ritson believes that annually reviewing strategy, spend and media is too often the “missing piece”. He admits he cannot tell marketers what the right mix is but suggests they get their strategy straight first, so they can make an informed choice, helped by a good media agency.
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Achieving a total view of attribution is an iterative process which requires a combination of econometric modelling and digital attribution, according to an industry figure.
In a WARC Best Practice paper, How to develop an attribution model for your brand, Patrik Sahlin, a principal consultant at Ebiquity, offers a practical introduction to these two main branches of attribution, discussing the steps that are taken to build an attribution model and how to choose between different methodologies.
“The fundamental difference between econometric modelling and digital attribution is the change of view,” he explains.
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