Visual IQ Brings Together Attribution Management, Media Mix Modeling
ADOTAS – Cross channel marketing intelligence software provider Visual IQ announced yesterday it had publicly released the most recent version of its TrueAttribution 2.0 technology, which is designed to measure performance across both online and offline channels. In spite of the challenges of leveraging data from all channels in one centralized place, this product proposes an integration of the not-always-in-sync methods of attribution management and media mix modeling (read a MediaPost summary of some of the differences between the two approaches here) that continues over time rather than providing a series of quick fixes. As such, the technology is meant to take into account a consumer’s exposure to a brand’s message over search, social, email and other digital channels, as well as over “traditional” offline channels, in order to more fully judge an ad campaign’s performance.
Some of the challenges in leveraging attribution management and media mix modeling are more or less semantic, explained Visual IQ vice president for product management Madan Bharadwaj over the phone today. “If you go around to an attribution management presentation, the language is completely different” from media mix modeling, he said, “but they’re trying to solve the same problem.” To that end, he said, ”We figured out a unified approach to describing a performance report.
“What media struggles to do today is to have common currency across channels,” Bharadwaj said. “Right now there’s a lot of friction just moving dollars around.” But Visual IQ’s technology, he said — which uses the company’s TrueMetrics software, which allows for an “observation of performance” across channels to see whether, for example, “revenue was driven by TV, but harvested by search” — allows for more fluidity of revenue between previously-siloed niches and to answer questions, in one place, about all attributes of a marketing effort and to optimize a campaign and make predictions about it as data is fed back into it. “These discussions are going to be much easier to quantify,” Bharadwaj said. “We will figure out the right model based on your data — every single touch point from everyone you’ve ever touched, converters and non-converters.” The result is what he calls “a very unified experience” for Visual IQ clients.
Bharadwaj said TrueAttribution 2.0 was developed over a period of six to eight months and has been in beta for six or seven months, and he said his company is the only one around doing both attribution and media mix marketing. “We have definitely moved the market from a rule-based attribution approach,” he said.
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