Marketing campaigns tailored to each stage of the funnel and businesses often use a multi-channel approach towards marketing. Marketing attribution models measure how effective digital campaign spends drive business outcomes. Depending on the business model, these outcomes are often milestones along the marketing funnel.
Marketers need to measure the effectiveness of their marketing spend to understand the Return on Ad Spend (ROAS) of each channel. The primary issues that hinder that measurement include:
Our marketing attribution solution works with aggregated data using a Media Mix Modelling (MMM) framework. In its simplest form, we use the following, first-party data, aggregated on a daily basis to build our model:
Spend by each marketing channel
Key outcomes, e.g., website visits, lead submissions, and revenue
Promotions and discounts
We design and deploy testing strategies to validate findings from the model. These findings can be used to reinforce the attribution model.