In an increasingly digital world, using attribution methods to understand and improve your digital and social media marketing efforts has never been more critical
The reach and influence of Digital and Social Media are rapidly increasing. Therefore, organizations are increasing focus, budgets, and internal resources on the digital space. Given the strong interactions between digital, social media, and other elements of the marketing mix (e.g. offline media, pricing, and promotions), Analytic Partners recommends a holistic approach that isolates the individual and synergistic effects of each channel and activity.
Digital attribution: Capturing the true impact of Digital and Social Media
Within our Digital and Marketing Mix analyses, each digital and social media tactic is individually measured within the context of the full range of marketing activities. This helps capture the “true” ROI of each tactic, and assists in understanding both the direct and indirect effects, as well as synergies, across activities.
DIGITAL AND SOCIAL MEDIA EXAMPLE INSIGHTS
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Our Digital attribution approach – beyond ‘last click’
Analytic Partners Digital Attribution Modeling goes beyond ‘last click’ and measurement in silos to provide a full view of ROI and online/offline interactions. Our approach is customized given client data and business objectives with a focus on gaining a clear understanding of what is driving conversions and the role each touchpoint has in the decision process. It allows for optimal cross-media spend allocation (e.g. Search vs. Display vs. TV vs. Mobile, etc.) and in-depth recommendations within Digital (e.g. Search by keyword, Banner by site, size, etc.)
We answer your key Digital and Social Media questions:
- What are the most efficient Digital and Social Media activities?
- Which online tactics are most scalable?
- Are there opportunities to reallocate spend across our digital activities to improve ROI?
- What is the role of paid, owned and earned media in the overall mix?
- How can we improve timing of online and offline tactics?
- What are the most efficient formats, websites and sizes?
- How does each tactic influence consumers at upper vs. lower funnel?
- Is offline media improving our online efforts?
- What are the marginal returns on our investments?
- How does response compare across customer segments?
Strategic and tactical insights – a deep-dive into digital effectiveness
With an in-depth analysis of Paid, Owned and Earned Media, our tailored analysis reveals insights into the consumer path to purchase across both online and offline channels.
Within our marketing mix models, we identify ‘how’ your campaigns are working in terms of the interactions that consumers have across the different touch-points. For example, we analyze Paid media such as TV, Earned media such as Facebook, and Owned media such as your website to reveal where and how your sales are generated. In addition, advanced analytics allow us to understand and quantify the direct and indirect impacts of each touchpoint; ensuring credit is given to the real driver of sales.
Our Digital Attribution models provide the greatest level of insight into digital and social media effectiveness. Digital Attribution models are custom-built and apply an algorithmic approach to get an accurate understanding of the ‘true’ impact of each consumer touch-point. By leveraging detailed user, cookie-level data and advanced modeling techniques we are able to link consumer purchase decisions back to the ‘indirect’ stimulus to capture the ‘true’ influencer of conversion. This approach has proven a valuable way to eliminate last-click attribution bias. Given each client is unique in how they leverage digital media, our digital attribution analyses are customized based on data availability and client specific business questions encompassing Search, Display Ads, Social Media, Emails, Online Video, Mobile with deep dives into each for very tactical insights on how to improve conversions and return on investment.
In addition, Analytic Partners provides custom dashboards and web-based software for ongoing tracking of attribution results and what-if simulations. Our platforms provide a foundation for scenario planning via customized management dashboards as well as the ability to provide for ongoing performance updates. Our simulation tools allow for the development of online tests to quickly evaluate new activities, campaigns or changes in execution. Furthermore, our tools can be used to simulate a number of potential marketing budgets and plans to project future performance.