Posts Tagged predictive forecasting
Attribution, Recursive, and Predictive Modeling – The Marketing Sciences of the New Frontier
By Tom Polanski, EVP, eBrand Media and eBrand Interactive
Every marketer in 2010 wants to understand where the end-users first “touch’ with a company’s advertising originated and to track or even predict how many “touches” it took, and where, to generate a conversion. Then budget can be allocated in a statistically sensible manner.
There are a number of reasons why I call these soft sciences, which I interpret to mean part science, part art, and part magic. First and foremost the cookie level technologies haven’t been developed, let alone making sure that they are collecting data in the same way. As an aside; web analytics software, typically Omniture or Coremetrics, each has a different approach to tracking. Marketers who have adopted this type of marketing modeling are often disappointed to find that they still have to explain allocating budgets based on “confidence” and probable “significance” levels.
Companies are expecting a little more accuracy than that.
And, of course, there’ll be conflicts within the organization between display (what to do with post impression attribution?), email, and search.
To me there a several reasons why mathematical modeling for interactive marketing is currently in vogue, and the way of the future:
Posted by Tom Polanski in Tom Polanski, Trend Tracker, eBrand Interactive, eBrand Media on March 14th, 2010
Cross-Channel Attribution Model On Track To Replace The Last Click
Say bye-bye to the last click as the de facto measurement tool. Tools are being developed that Forrester Research analysts believe will have an impact on the way that advertising allocates ad budgets across media channels, from online to offline.
Forrester Research recently published a report titled “The Forrester Wave: Interactive Attribution, Q4 2009,” focusing on what Analyst Emily Riley calls “the bleeding edge of an industry change.”
Online advertising has always held the promise of being the most accountable medium, but execs in the industry now realize models need to measure much more across many advertising channels. Riley says cross-channel attribution is so new that companies offering the metrics model and the technology comprise a “motley crew” from across the industry.
Most of the “solutions” are not “fully baked and few of the companies offer a full service media buy, where the company does the measurement, analysis and reallocates the media buy,” she says.
Posted by eBrand Media Research Department in Trend Tracker on November 18th, 2009