Solution Briefs

Leading a Successful Multi-Touch Attribution Implementation

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Copyright © 2019 The Nielsen Company. Confidential and proprietary. Moira Freeman, Product Marketing Manager Contributor: Jared Robbins, Director, Analytics The modern marketer manages an ever-expanding portfolio of paid, owned and earned initiatives across online and offline channels. One of the ways in which marketers track, measure and optimize their media mix is through advanced measurement techniques. Many are familiar with marketing mix modeling (MMM), a strategic marketing measurement approach which measures online and offline data and helps inform strategic and periodic marketing planning. However, MMM lacks the speed and granularity that many digital marketers are looking for today. Marketers want to be able to make precise adjustments to campaigns while they are still in flight, such as swapping out creatives or tweaking keywords and placements. As a result, more marketers are turning to multi-touch attribution (MTA) than ever before. MTA is a marketing effectiveness approach which algorithmically allocates credit to every element of every touchpoint in the consumer journey according to its influence on driving a conversion. MTA enables marketers to measure, analyze and optimize the performance of their marketing tactics, and provides marketing teams with a single source of truth. MTA solutions like Nielsen Visual IQ measure all addressable channels, so there is no longer a need for every channel manager to use their own tools and metrics. MTA provides CMOs and directors with an unbiased view of performance so they can understand how effectively each channel and marketing initiative is driving desired business outcomes and contributing to the bottom line. If you've identified a need for MTA, you are already on the right track. Far too many companies waste budget on underperforming tactics because they fail to recognize the need to change their measurement practices. However, implementing MTA can seem like a daunting task. Change management and adoption are equally as important to the success of your implementation as selecting the right vendor and configuring the solution. So, how can you make sure your team is set up for success as you spearhead this new initiative? Here are some pointers that Nielsen Visual IQ has derived from over a decade of experience with enterprise MTA clients. GET EXECUTIVE BUY-IN The impetus to implement MTA can come from the top, but more often it comes from individual marketing team members themselves. As the champion of the project, securing executive buy-in should be your first priority. Develop an executive pitch so that you can clearly articulate how implementing MTA will help drive growth across the entire marketing portfolio, not just the campaigns under your purview. Highlight how the solution would help you address some of the marketing team's core challenges, provide an overview of an internal adoption plan and point to real-world examples of how MTA drove growth for comparable businesses. Executives need to see the value of MTA or you will not have the support you need to get the project off the ground. Executives will also have their own expectations for the implementation. Once you have presented your vision, be sure to listen to their priorities so that you can configure the solution to achieve their desired outcomes, as well as reset expectations if necessary. You will get a sense for how involved the executive wishes to be during the implementation process and beyond, once MTA is up and running. While many will rely on you during implementation and never use the user interface, NIELSEN VISUAL IQ

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