Solution Briefs

Why Marketers Need Granular Measurement

Issue link: https://resources.marketingeffectiveness.nielsen.com/i/1153247

Contents of this Issue

Navigation

Page 0 of 2

Copyright © 2019 The Nielsen Company. Confidential and proprietary. SELECTING THE RIGHT MODEL FOR ATTRIBUTION A multi-touch attribution (MTA) model takes in user-level data from across media channels to assign fractional credit to the marketing touchpoints and dimensions along the consumer journey according to their influence on driving a conversion, or any other key performance indicator (KPI). Broadly speaking, there are two types of MTA models: • Rules-Based. A subjective methodology that distributes credit for a given success metric across one or more marketing touchpoints in the consumer journey using a prior-defined or arbitrarily assigned weight. • Algorithmic. An objective methodology that uses machine-learning to calculate and fractionally assign credit for a given success metric to the influential marketing touchpoints and dimensions (campaign, placement, publisher, creative, offer, etc.) in the consumer journey, as well as to predict the outcome of future marketing spend allocations. Most marketers start with a simple rules-based model in a site-side tool, but soon recognize its limitations. Though rules- based models are quick and easy to implement, they lack the accuracy marketers need to truly understand the effectiveness of their media at driving conversions. Each of the rules-based models - be it first-touch, last-touch, time-based or even- weighting - has biases that skew results. Marketers then move onto an algorithmic approach which helps them understand media performance more accurately, even at granular levels. An algorithmic approach understands cross-media, cross-device, and converter propensity impact on your media performance. Algorithmic approaches lend such accurate results because they take user-level data and model at every level of your media hierarchy. They enable marketers to understand everything from the impact of their creative elements all the way up to the channel level. NIELSEN VISUAL IQ Vijay Sankar, Product Marketing Manager Contributors: Elyse Languirand, Solutions Consultant & Moira Freeman, Product Marketing Manager As a marketer you have competing priorities: time, budget, and campaign performance. Consumers' attention spans are shorter than ever, giving you a fraction of a second to capture their attention. If something isn't working, you need to know right away so you can adjust fast or you will lose that consumer to another advertiser. Using your budget effectively is critical not only to driving results, but also to proving your value within your organization.

Articles in this issue

view archives of Solution Briefs - Why Marketers Need Granular Measurement