In an article published on the American Marketing Association’s website, Jason Harrison – Gain Theory’s founding WW CEO – talks about how attribution analysis is not only integral to advertising success but also a key driver of securing buy-in from the executive boardroom.
One of the most enduring questions about the resource allocation concerns the proper mix of online and offline advertising investment. What is the right mix of ad spend between TV and digital? Answering that question often involves applying a classic bit of marketing effectiveness analysis known as marketing attribution, which essentially is the linking of a business outcome to the marketing initiative that drove it.
In his article, Jason gives some background on the techniques marketers can use including Market Mix modelling and details four important steps to creating an analytical toolkit:
- Build A Data Infrastructure
- Ask, “What is the problem we’re trying to solve?”
- Audit and Optimize Throughout the Marketing Lifecycle
- Build In Flexibility
For the full article about How Attribution Can Drive Marketing Strategy visit the AMA website here.