Brightblue launches Dynamic Attribution
One of the current conundrums marketers face is attributing budget across offline and online channels in a fair and accurate way. Currently this allocation is completed in silos; Pathway Attribution, focussing on detailed digital attribution, and Market Mix Modelling, which focusses on broad channel attribution. Our dynamic attribution modelling tool combines both elements to give detailed and realistic insights.
Pathway attribution uses cookie level data to understand how each online channel has contributed to a sale, therefore giving the ability to source very detailed ROIs but for Online Channels only.
Market Mix Modelling (MMM) uses data over time to build models of sales / KPI drivers and isolate media impacts, delivering broad (non-detailed) ROIs for offline and online channels (TV, Radio, Press, Display, PPC, etc).
The limitation for attribution modelling is not considering offline factors, whereas market mix modelling struggles to understand intra-online channel ROI.
Recent ‘best practice’ in this area has focussed around merging the two techniques via ‘Total Attribution’ or ‘Re-attribution’, which simply uses the results of MMM to scale the detailed attribution results in a 2-step process.
But shouldn’t there be an interaction between the two types of analysis? It’s common knowledge that digital and offline channels do not act in silos – for example a TV ad will push consumers online to look for a brand, they then search and click on a PPC link – thereby the TV would inflate the PPC response. So surely the different methods of measurement should be able to adjust to this relationship?
That is why Brightblue is launching a pioneering product, Dynamic Attribution, to join both pathway attribution and marketing mix modelling (MMM) into one analytics platform. Dynamic Attribution delivers the true quantification and measurement of channels, platform and creative across online and offline media.
Brightblue’s new solution dynamically uses machine learning techniques to bring together MMM and attribution modelling to deliver more accurate and detailed media ROI. Dynamic Attribution delivers huge potential for detailed optimisation opportunities across all offline and online media channels.
Brightblue Consulting are a London based consultancy which help businesses drive incremental profit from their data. We provide predictive analytics that enable clients to make informed decisions based on data and industry knowledge. Through Market Mix Modelling, a strand of Econometrics, Brightblue has a proven track record showing a 30% improvement in marketing Return on Investment for clients’ spend. If you are interested to find out more please contact us through email by clicking here and one of our consultants will get back to you shortly.