No marketer will argue that attributing consumers’ exposures to marketing and advertising is important, but many have realized it’s only one piece of a bigger puzzle. eMarketer’s Lauren Fisher spoke with Rolf Olsen, chief data officer at advertising agency Mindshare North America, about customer-centric approaches to attribution and how they’re benefiting businesses.
But typical attribution models ignore that. They assume everyone responds in the same way, and then you get channel-specific learnings about what works. Typical models ignore the fact that you start the process by thinking about the consumer.
This is starting to come through in some digital attribution solutions. It’s a core tenet of agent-based modeling.
This is important because if you make assumptions in aggregate, you assume that all consumers respond to all channels in the same way. That’s not true. Each segment has some nuance.
If you believe that the success of your business is tied to ads, you’re missing the bigger picture. From time to time, we hear that marketing isn’t delivering the sales a company expected. But marketing is just a part of what goes into the marketplace.
You need to understand how everything connects with the consumer. Think about how you can create the quantitative components that go with those measures, and be able to account for them in your attribution model.