During the recent Forrester Wave™ evaluation of cross-channel attribution providers, we surveyed 71 customers about their cross-channel attribution efforts and their vendor partnerships. Cross-channel attribution remains a challenge for most customer insights (CI) professionals. Why? It's difficult to track customers across devices and measure the true exposure to a plethora of marketing and media campaigns.
Today's customers interact with brands via a wide variety of touchpoints across different stages of the life cycle. But most customer insights (CI) professionals measure campaign success using archaic, last-touch methods, failing to measure dynamic interactions between customers and brands. They struggle to track the true impact of their marketing efforts and understand the holistic customer journey. As a result, marketing performance insights are suboptimal and mislead CI pros about the true effectiveness of their channel, promotional, and customer service efforts.
More-powerful technology, growing data volume, and marketers' increasingly data-driven focus are key trends driving significant innovation in the marketing performance measurement sector. This gives marketers more choice than ever, but it also requires them to update their understanding of the market and take a fresh look at current marketing measurement approaches. B2C marketers and analytics pros looking to improve their ability to measure the financial contribution of marketing should read this report to understand and assess how this range of offerings fits with their needs.
Social marketers use revenue attribution to measure the impact social marketing has on the path to purchase. This insight can help you optimize social marketing spending and activities to maximize revenue. Use this research to build your social marketing revenue attribution strategy.
Attribution products can help you optimize your digital marketing and ad spending, but different products have different uses. This report will help you find the approach and provider that best fits your needs.
Marketing leaders with significant advertising budgets turn to multi-touch attribution and marketing mix modeling to measure and improve the impact of their marketing efforts and media investments. Use this research to gain an overview of common techniques and how they are used.
An algorithm to model both time and revenue response to spend for media mix modeling is proposed in this article. A Monte Carlo simulation study is conducted to investigate the possibility of extracting time and revenue response simultaneously from both revenue- and channel-spend data. The quality and reliability of the underlying model parameter reconstruction from various sizes of data are also inspected. The outcome of re-allocating channel spend optimally based on extracted revenue response is evaluated.
This paper studies the effects of various types of online advertisements on purchase conversion by capturing the dynamic interactions among advertisement clicks themselves. It is motivated by the observation that certain advertisement clicks may not result in immediate purchases, but they stimulate subsequent clicks on other advertisements, which then lead to purchases. We develop a novel model based on mutually exciting point processes, which consider advertisement clicks and purchases as dependent random events in continuous time.
There is much hype associated with the term 'Big Data' (BD), and much opportunity in the data that are associated with that term, along with the tools and techniques in existence and being developed to leverage it for decision making and improving the condition of living beings, firms and society. However, many are not clear on what are, or what is meant by the term, 'Big Data'. The focus of this research was to explore the meaning of BD and to identify important paths of research on BD.
The aim of this paper is to review the related literature on consumer protection regulations and the effect mechanism of advertising (as well as its applications), and therefore to define a framework for companies with which they might be able to righteously and ethically inform and influence consumers in achieving their goals.