The 3 most common questions (and answers) we get about MTA
By: James Bance - Director, Global Inside Sales, Convertro
Over the last 4 years, I’ve been fortunate to work for 2 of the most well regarded multi-touch attribution (MTA) providers in the business. I’ve spent the majority of my time on the front lines, looking after prospect companies that were/are interested in learning more about the business impact and associated ROI of MTA platforms.
I’ve had hundreds of conversations with marketers uncovering their challenges around marketing measurement, and their (collective) desire to more efficiently manage and tune their media budgets. Here are some of the most popular questions we get, along with some answers that may help you if you’re considering making the jump to an MTA provider.
Which marketing channels does your platform give us the ability to measure and attribute? Can you measure offline media well?
When I hear this, it usually means the brand I’m speaking with has an omni-channel strategy that’s comprised of both addressable and non-addressable media and they’re not getting the clarity they need from traditional tools like Media Mix Modeling reports, or legacy media measurement tools.
First of all, every attribution provider is unique in how they address (or in some cases can not address) the cross-channel attribution challenge, but if the ultimate goal is to gain clarity into the effects of media across digital and offline mediums, then you’ll want to take a look at a “Unified Marketing Impact Platform” as reviewed in Forrester’s Wave Report on UMIA platforms.
Our Director of Product, Vish Oza, does a wonderful job of describing what one should look for in a “unified attribution” platform in this blog post, but can be summarized as follows:
Look for a provider using a single framework consisting of all marketing activities to measure their influence on the marketer’s goals, no matter what role in the org (CMO, Director, Analyst).
Measure the impact of all controlled and uncontrolled factors. They vary from product trends, media consumption habits, responses to messaging and competitor responses, to less obvious factors such as weather, economy, and seasonality. These things are dynamic and require a model that can monitor inputs as they evolve, so the model needs to be granular enough to measure those nuances.
It is important to find the right balance of automation and oversight where marketers can continuously monitor the execution of the plans and adjust them when the need arises in concert with the support/guidance of the attribution partner.