are marketing performance and attribution management platforms? //

Proving marketing ROI is one of the biggest challenges in marketing. The MPM platforms use attribution, statistical models and machine learning in order to assess the impact of marketing initiatives.

Marketers can use them to determine the effectiveness of their marketing efforts, so that they can allocate future expenditures and align it with their business goals.

Terms

These platforms are not commonly known by any particular name. Some call them “marketing performance management” or “marketing resources management.”

We call it “marketing attribution management” as this term encompasses both the attribution (performance measurement) and the larger-picture function to use data and technology in order to assess bottom-line outcomes and make decisions regarding future spending (performance management).

Download MarTech Intelligence Report Enterprise Attribution and Performance Management: A marketer’s guide

Platform capabilities for marketing attribution and performance measurement

Here is a list with the capabilities offered by MPM platforms.

Data integration and data collection

• Integrate with martech and advertising technology software such as CRM, marketing automation software, customer service software and other platforms.
• Connect to other software used by the business, such as enterprise resource planning systems (ERP), business intelligence tools and inventory management systems.
• Data from different marketing and communication channels can be ingested (radio, television, connected TVs, call centers, emails, digital ads, interactions with websites, etc.). Capture information about the interactions of customers and prospects with a brand.
• Relationships with Facebook and Google, as well as other “walled garden” providers and data providers which allow the augmentation of campaign metrics and customer profiles.
• Conversions are important to know. These data are usually generated from sales, but can also be generated through ecommerce, CRM systems, point-of-sale, or other locations where transactions occur.

Analysis and Reporting

• Use a variety attribution models – single touch, fractional, algorithmic, proprietary, etc. To link marketing interaction data with conversions. Marketing mix modeling (MMM), which provides insights on how campaigns impact sales, can also be used.
• Users can choose or modify attribution models according to their business categories and goals.
• Custom models that make the best use of zero- and first-party data can help marketers to cope with the increasing scarcity of third party cookies.
• Combining different data types and models into one unified system that gives actionable insights.
• Connect marketing interactions with individual campaigns. Include cost per thousand (CPM), or cost per acquisition (CPA), as well as other relevant measures of cost (internal resources expenditures).
• Reports with visualizations that help marketers better understand data are available, such as maps, charts and graphs. These reports allow marketers to understand which activities are performing better than others. Reports are often segmented based on various dimensions. Time, geography, product or channel.
• Segment your customer and prospect records into audiences to target in marketing channels.
• Analyze the behavior of customers throughout their purchase journey. These data are used to identify obstacles in the path to conversion, and to reduce friction during the purchasing process.

Modeling and orchestration

• Analyze recent or historical data to make proactive suggestions in real-time for future campaigns, or to modify ongoing campaigns. Machine learning and AI technology can help with this.
• Marketing functionality that allows marketers to create “what-if” scenarios, and then generate probable outcomes. This will help them plan their budgets for the future.
• Marketing can act on the results of their analyses with orchestration tools that allow them to tweak their targeting, creatives or other elements in accordance with their conclusions.

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