We all know that measuring marketing and advertising efforts isn’t easy. It never has been – insert overused John Wanamaker quote here. But the recent proliferation of channels and devices has made marketing measurement exponentially more complex than ever before. Technology helps, and has tried to keep up, but having so many ways to measure so many components can also feel daunting at best, downright overwhelming at worst.
When marketing attribution hit the mainstream five years ago, it seemed like an answer to marketers’ prayers. Finally: a data-driven way to go beyond last-click models and truly give credit where credit is due across the cross-channel landscape. Attribution complements MMM (marketing mix modeling) with the power of big data and real-time analysis, providing insight into each touch of the conversion funnel in seconds instead of weeks. For direct response marketers, this is a slam dunk: in the post-800 number days, understanding purchase path to conversion is critical.