AS PATH-TO-PURCHASE and marketing options have evolved in complexity, so too have the ways in which we measure and optimize marketing performance. For some time, marketers have relied on two separate measurement approaches — marketing mix for a holistic, top-down understanding, and digital attribution for detailed insights into digital media interactions and impacts. As the market changes and businesses evolve, marketers need new analytical approaches to ensure they are effectively and efficiently reaching their audience and optimizing business results.
WHY IS MARKETING PERFORMANCE MEA-
SUREMENT CHANGING NOW?
Historically, marketers relied exclusively on traditional media, with its mass-market orientation. Performance measurement focused on estimating reach and frequency. In the early 1980s, statistical approaches took hold and many marketers shifted to marketing mix modeling, to link marketing stimuli to business outcomes, including sales, web visits, trips and other KPIs.
More recently, the digital revolution has allowed
marketers to explore new marketing strategies and
tactics, and also required new ways to measure mar-
keting performance. The Harvard Business Review
noted that “Seismic shifts in both technology and
consumer behavior during the past decade have pro-
duced a granular, virtually infinite record of every
action consumers take online.” As digital marketing
investment and questions have grown, digital attri-
bution has emerged as an important component of
THE EVOLUTION IN MARKETING PERFOR-
MANCE MEASUREMENT IS UNDERWAY
To create a comprehensive perspective on perfor-
mance, marketing mix and digital attribution are
converging into increasingly integrated solutions.
As Forrester’s Jim Nail notes, Unified Marketing Im-
pact Analytics offers “a gateway for customer jour-
ney analytics, providing deep insights to the value of
marketing exposures across different segments and
HOW WILL CONVERGENCE IMPACT MAR-
KETERS AND MARKETING ANALYTICS PRO-
By incorporating and integrating marketing mix and digital attribution, you will understand marketing impacts more completely and be better positioned to optimize results. You will know what works, create innovative plans and tactics, and respond quickly and confidently to market changes.
As You Explore Options and Potential Partners,
We Recommend the Following Questions:
Are your digital attribution and marketing mix
models integrated? In what way(s)?
How do you incorporate media, audience, and competitive data, and additional factors such as macroeconomic conditions and weather?
At what level of detail do you incorporate digital data?
THE NEXT PHASE OF
MARKETING MIX &
BY DAMON RAGUSA