Attribution models have emerged as a powerful tool for helping advertisers understand which parts of their marketing efforts are driving sales. An attribution model works by assigning partial credit to each advertising event that influenced a user to convert, and can generally be separated into simple models and advanced models. Simple attribution models use predetermined weights to assign credit to each ad, while advanced attribution models use a more scientific approach.
Have you been basing your ad buys on "effective cost per thousand impressions," or eCPM? The problem with using eCPM is that, while the cost may be effective, the impressions themselves aren't necessarily so. Wouldn't it make more sense to use "cost per effective impressions," or CPEM?
Industry discussions of viewable ad impressions and cross-media platform comparability using common metrics have become more frequent and more intellectually robust as Making Measurement Make Sense (3MS) has continued. 3MS is the cross ecosystem initiative that is a joint undertaking of the ANA, the 4A's and the IAB, facilitated by Bain & Company, that is changing measurement as we write this column. One question on everyone's mind as we try to determine how to prepare for the pending change in standards is: What is the status of the viewable impression pilots?
Recently, Forrester Research published the research reports that ranked marketing attribution product providers for interactive and cross-channel attribution. It's important for a marketer to understand that attribution is a means to the end, and the report stressed that marketers must make use of all of their data to utilize attribution effectively.
Data can be the secret weapon for getting closer to customers, understanding them and delivering the right communications to the right person at the right time. Here are eight data-driven marketing improvements any company can use to become more customer-centric: