The strategic and tactical value of multi-touch cross-channel attribution
updated about 2 years ago
When looking at Attribution models, multiple solutions exist. Marketing mix modeling (or media mix modeling, MMM) works with top-down, macro-level information. MMM analyzes aggregated historical data, customarily from offline sources like TV, radio and print, and delivers organization-level metrics around planning, spending and performance.
The Accurat Attribute solution, provides an alternative solution to MMM-attribution and allows for more tactical recommendations on top of the strategic ones that MMM focuses on. Multi-Touch Attribution (MTA) looks at individual users’ customer journey and analyzes the path to conversion (e.g. a store visit) across multiple digital and offline touch points. This allows it to measure the impact of each individual marketing tactic. In contrast with most MTA-models, Accurat has the potential to include offline media (e.g. DM, newspapers, folders or door-to-door) as well in the mix.
In may ways, the MTA solution Accurat Attribute provides is different from MMM. The table below gives an overview of the business value and differences between Accurat's MTA approach and a more top-down MMM.
|Multi-Touch Attribution (MTA)||Media Mix Modeling (MMM)|
|Goal||Evaluate your campaign efforts, learn what could be improved & adjust your future campaign efforts.||Evaluate media spent for media mix adjustments or forecast the potential impact of your media mix.|
|Use cases||Measure lift and actual conversions on different campaign levels (e.g. geographical) to prove impact & improve future budget allocation.||Define the overall campaign contribution of channels & improve future budget allocation.|
|Approach||Bottom-up approaches start from individual user insights and work their way up to attribute efforts.||Top-down approaches like MMM start from aggregated sources and provide input for strategic decisions.|
|Channels measured||Mainly digital touchpoints that can be measured on a more granular level.||Focus on radio, TV, print, digital and social spent (on a more aggregated level).|
|Data sources||Granular user level data sources like banner clicks, mobile interactions, folder drop, website visits.||Aggregated data like brand and category spent (GRPs, budgets, demographics) for different channels.|
The Accurat Attribute solution has most in common with MTA yet improves by adding offline channels to the mix as they now can be measured on an individual level. Accurat provides the possibility to meassure whether someone received print media, a folder drop, a door-to-door. In the future also TV ad impact will be able to be measured.