Marketing mix attribution is often one of the biggest problems a marketer can face when trying to measure omnichannel performance. How to fathom out in an omnichannel environment how much each channel is really contributing?
And how much for instance are they contributing to new customer recruitment v. existing customer sales?
Google has a solution for attributing what goes on in the digital space, but this leaves out important areas like emails opened, catalogues received, SMS messages, outbound calling, even retail visits.
So, we set about developing ADEE, or Algorithmic Direct Event Attribution.
For us it’s the culmination of a journey which we began by solving the problem of attributing orders to events, where clients were using both online and offline channels.
Curiously, nobody else appeared to be doing this.
We needed to create a result that made sense of the relative contributions of all the online and offline events that took place before each order is placed. (By the way the average is around five per order).
We needed to apply a fair weighting to these events that described the influence they had on each eventual order.
Then we had to add up all the events to the channels in which they took place to understand the value contributed by each channel.
Finally, we needed to let our clients decide whether they wanted to look at all customer orders, or for instance just new customers, or customers buying a particular product category.
I am delighted to say that we ended up creating ADEE!
If you would like me to send you our white paper on ADEE then please email us on firstname.lastname@example.org.
It could transform your understanding of the true contribution that each of your online and offline channels are making.
UniFida is the trading name of Marketing Planning Services Ltd, a London based technology and data science company set up in 2014. Our overall aim is to help organisations build more customer value at less marketing cost.
Our technology focus has been to develop UniFida. Our data science business comes both from existing users of UniFida, and from clients looking to us to solve their more complex data related marketing questions.
Marketing is changing at an explosive speed, and our ambition is to help our clients stay empowered and ahead in this challenging environment.