Marketers often grapple with understanding customer behavior for effective budget allocation and strategy optimization. Measurement frameworks such as marketing mix modeling (MMM) and attribution modeling aid in this analysis. Attribution modeling connects customer purchases to specific marketing actions, helping to identify which channels influenced sales. The IAB reports that 88% of marketers use attribution modeling, which is increasingly preferred over MMM. This statistical tool enables marketers to attribute dollar values to marketing strategies after analyzing the customer's journey and can distinguish between baseline and incremental sales.
Marketers are using various measurement frameworks to understand customer behavior, notably marketing mix modeling (MMM) and attribution modeling.
Attribution modeling connects customer data to marketing activities to assess their influence on sales, allowing marketers to assign credit to specific channels.
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