Solution Briefs

Optimizing Your Media Plans with Multi-Touch Attribution

Issue link: https://resources.marketingeffectiveness.nielsen.com/i/1153382

Contents of this Issue

Navigation

Page 0 of 2

Copyright © 2019 The Nielsen Company. Confidential and proprietary. Moira Freeman, Product Marketing Manager Contributor: Shirley Cheng, Director, Analytics With a seemingly infinite number of channels and choices at their fingertips, consumers are becoming more difficult to reach than ever before. As a result, you must be sure that you are spending in the right places to target them effectively. You have graduated past the "same as last year" approach to media planning and buying, but you probably still rely on an ad server or site-side analytics application to help you analyze the performance of your media. When it comes to deciding where to spend and how to shift budget, you may do a lot of the analysis on your own and take some leaps of faith. You could be investing in underperforming publishers or tactics without even knowing it. Multi-touch attribution (MTA) solutions go beyond simply measuring marketing and media performance. Using machine learning, they are able to generate optimized media plans based on your spend and performance goals. These optimization capabilities enable you to compare and analyze the impact of multiple scenarios before you allocate spend and find out how to shift your budget to improve the performance of live campaigns. In this article, we will dive into how you can use MTA to optimize your media plans more effectively throughout the media planning process. ALLOCATE BUDGET MORE EFFECTIVELY Optimization tools help you allocate budget more effectively during the media planning phase. With Nielsen's Visual IQ Scenario Planning solution, you can select the media you would like to optimize—whether it be an entire channel, or any combination of publishers, campaigns, tactics, creatives and keywords/placements within that channel. You can also choose the time period you would like to evaluate, the optimization metric against which you would like to evaluate performance, and any constraints that the tool should consider. The solution will draw from historical performance and hypothetical spend allocations to generate a yield curve with 100 different media budget scenarios. When you scroll across the curve, you can see how much you would need to spend to achieve your goals and see where returns begin to diminish. You can download all of these scenarios or dig into just one to identify a target media budget at any level of granularity. It is important to keep in mind that optimization tools perform sophisticated, predictive analytics; they are not artificial intelligence applications. They analyze historical data to make recommendations but cannot learn from data sets or take real- world factors into account without your input. Therefore, Nielsen's Visual IQ Scenario Planning solution enables you to control for real-world factors such as seasonality or budgetary restrictions during configuration. As you select a time period to evaluate, keep seasonality and market influences in mind by picking a time range that is similar to the period of time for which you are optimizing. NIELSEN VISUAL IQ

Articles in this issue

view archives of Solution Briefs - Optimizing Your Media Plans with Multi-Touch Attribution