What’s Up with Attribution & Analytics?
After attending the “Prove it! Attribution & Analytics” event hosted by the San Francisco Bay Area Innovation Group, I compiled my key takeaways and themes from the session. The panel included marketing leaders and agency folks, and the main topics were:
- From media mix modeling to multi-touch attribution, there are unlimited solutions – how do they work together?
- Explore whether there is a silver bullet or combination of solutions that marketers can use to best address this messy situation
At Belardi/Ostroy, we are relentlessly focused on understanding the latest trends across topics. Here are the key takeaways and themes from the event:
- “Analytics is similar to religion;” once you pick a type, you have to have faith and stick with it.
- Be wary of “overselling” attribution and analytics as they exist today; they are still very much a vision. We do not yet have the capability to interpret all the data available to us.
- “Consistent inconsistencies;” keep assumptions constant over time yet discover the trends.
- Patience can be a reflection of understanding. Mapping out leading indicators for short-term ROI to gain some comfort is recommended.
- Material benefit vs. branding; not everything can or should be measured.
- Make conscious decisions instead of letting data dictate everything. (very important!)
- Data cannot always replace gut instinct
- Marketing is both an art and a science
To conclude, the panelists debated whether advertising is more impressive today due to analytics. The general consensus? Yes. Ads are more relevant and timely – and this is because of analytics.
We are always happy to discuss our experience with attribution and analytics. Please feel free to reach out to Polly Wong at firstname.lastname@example.org.