Attribution is likely something you’ve heard about in the last ten years. In marketing, attribution modeling is the ability to utilize your marketing data to track conversions, understand the efficiency of your media channels, and empower your brand with the insights to maximize ROI.

At Marketsmith, we have worked tirelessly to put all the data we have to work for our clients. We put data scientists in the same room as our creatives and client performance team. As DaVinci taught us, when the right and left brains converge, extraordinary things happen. Our proprietary modeling platform allows us to efficiently sift through your data with MarketsmithIQ analytics to connect the dots between insights, sales drivers, and touchpoints, and effectively predict future outcomes. In fact, we can predict your media outcome with 94%* accuracy!

Types of Modeling

Our approach to data science was built for marketers, by marketers. We believe there is no placement or tactic too small to analyze or learn from, which is why our Data Science Approach goes beyond last touch and accounts for all consumer touchpoints in the marketplace. There are two main types of modeling we focus on – Trade Area Modeling and Media Mix Modeling – to create our optimal, targeted strategies.

Trade Area Modeling allows us to identify geo-clusters of business surrounding brand stores and consumer shopping behavior in and out of these clusters, which provides a smarter test & control structure within our Learning Agenda initiatives and drives location-based predictions. Media Mix Modeling helps us understand incremental business drivers across the marketing ecosystem, and identifies saturation points for each media tactic, therefore driving optimal budget allocations and prediction power on total business outcomes.

Evaluating Attribution

Our team’s depth of experience in attribution includes Digital Attribution, TV Spot Web Attribution, Foot Traffic Attribution, Omni-channel Media Mix Modeling (MMM), and Multi-touch Attribution (MTA). We work together with our clients to establish the right approach for their specific business. Implementing the right attribution solution begins with 4 key questions:

  1. What channels will you be activating?
  2. What is the annual media budget?
  3. What is your core KPI?
  4. How much of your budget are you willing to commit to attribution?

Regardless of platform or solution, the true test of any model is based on the business outcomes. When recommendations from the attribution model are implemented, do the business outcomes improve? This is how any model must be validated.

Ready to talk Attribution?

Many companies talk the talk when it comes to attribution, but can they actually walk the walk? Our in-house data science team ensures we are following each customer’s journey for our brands – with multi-touch tracking and accountability for each stop in their path. Let us help measure your user journey.

*Confidence level is reliant on client data length of history and availability.