// Monday, May 21st, 2018 – 12:05 am “Brand Aware” explores the data-driven digital ad ecosystem from the marketer’s point of view. Today’s column is written by Amy Loesch, vice president of digital marketing at RetailMeNot.
More than half (57%) of marketers surveyed in 2017 said figuring out cross-channel measurement and attribution would occupy their time, and about four in 10 retailers said they planned to implement cross-channel attribution. However, setting up a business for success with multitouch attribution (MTA) requires that marketing and data teams first spend much of their energy laying the data groundwork.
There’s a reason so many marketers and retailers are making MTA a priority: Consumer shopping journeys are increasingly complex, and it is incredibly important to understand all the touch points that lead customers to interact with brands. Media campaigns are less siloed, and advertising platforms such as Facebook, YouTube and others are introducing new advertising types that blend brand creative with direct-response calls to action.
Understanding each campaign’s impact across the funnel improves the accuracy of media planning and budget allocation. Traditional metrics, such as click-through rate, are poor indicators of performance as marketers discover there is virtually no correlation between clicks and incremental sales.
Before beginning the process of setting up multitouch attribution, digital marketers should ask themselves whether or not their specific media mix makes sense for MTA. Further, all MTA solutions are limited in their ability to measure the impact of walled-garden impressions, so marketers should consider what percentage of their budgets is dedicated to channels such as Facebook or Google custom audiences. Read more from adexchanger.com…
thumbnail courtesy of adexchanger.com