A study commissioned by the IAB (Interactive Advertising Bureau) and conducted by Forrester Research shows that “advanced techniques for attributing value to digital media channels, based on specific campaign goals and detailed data analysis are replacing simplistic first and last click measures.”
“Digital Marketing Comes of Age” also reveals several trends that are pushing advertisers to use more sophisticated attribution schemes to determine publisher compensation. Of the five outlined in the IAB press release, one is near and dear to those of us at OptiMine: Optimization.
From the article:
Optimization will become more tightly integrated with media buying and execution: As the industry gets better at attribution and optimization, developing the right checks and balances, many elements of a media plan will likely be executed in a much more automated and efficient way. (Underlining is mine)
Pricing is, of course, an important element of any media plan and in the world of digital marketing – paid search, display, social – it is an element that is complex and challenging.
More from the article:
A related Forrester survey of interactive marketers* featured in “Digital Attribution Comes Of Age” took a snapshot of the landscape and finds that 34 percent of respondents currently use a rules-based approach, followed by 30 percent relying on a first or last click method. In addition, 11 percent said that they use algorithmic attribution models.
As attribution grows in importance, marketers will continue to demand tools and techniques that are increasingly sophisticated and capable helping them achieve their their financial goals. As with bid optimization in paid search, multivariate modeling done at the most granular level will ultimately provide the best improvement in financial results.