Isn’t it always the way? The more you know, the more you realize you don’t know? This is very much the case with marketing measurement. As marketers gain more insights into their customers’ behavior and paths to action, the more complex it becomes. Add the fact that customers now interact with brands across devices and channels, and it is easy to see why measuring marketing’s influence is failing.
Multi-Touch Attribution (MTA) is a powerful method for understanding the digital touch points that influence customers, but when it stands alone in this complex media environment it fails. Analytic Partners has been a long-time supporter of a unified, adaptive approach that leverages the benefits of holistic measurement from Marketing Mix Modeling (MMM) and provides guidance for both strategic and tactical decisions. This allows for the optimization of cross-channel spend allocation in addition to in-depth recommendations within each channel.
According to Forrester Research Inc., B2C marketers must embrace a new unified measurement standard — unified marketing impact analytics (UMIA) — that can “measure marketing's entire value and identify the best ways to optimize customer interactions.”
In their recent report entitled “Marketing’s Data-Driven Future Demands Unified Measurement” (January 2017) authors Jim Nail and Tina Moffett demonstrate the value of unified measurement and how it creates a complete view for marketers. This report also outlines the importance of creating a culture that embraces insights including the importance of the right tools and partners.
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