The Marketing Pinata: A Quick Look At Multi-Touch Attribution
Three children are at a party, waiting to swing at a piñata. The first child takes a swing, causing significant structural damage, but failing to break the shell. A second child takes an equally impressive swing and creates a few cracks in the piñata’s surface, but still no candy. Finally, a third child steps up and swings. Candy spills all over the floor, and he proclaims sole credit for all the treats.
It wouldn’t be right to give all of the candy to the third child in this scenario, right? But marketers have been complacent doing this for marketing attribution, frequently applying the last touch attribution (LTA) model to campaigns.
Marketers are now beginning to realize the implications of the LTA model—fragmented insights, wasted dollars, and in some cases, illegitimate approaches to ‘stealing’ last touch credit—and applying multi-touch attribution (MTA) instead.
MTA assigns credit to any deserving channel in a campaign. It’s as simple as appending a third party tag to the creative, which tracks and records each individual impression and its resulting actions. The MTA partner ingests impression-level data and assigns partial credit to all channels that “touched” a consumer. Clients can adjust the percentages to meet individual campaign needs.
However, MTA lacks standard modeling methodologies. Attribution vendors rely on proprietary processes; there is no standard by which to adhere or an objective third party to hold vendors accountable for accuracy.Fragmented reporting among platforms can result in making optimizations that seem to be in favor of performance from an LTA standpoint, not MTA.
Collective understands that MTA is the future for our industry and therefore has worked to overcome these challenges. We accept MTA tags from any platform our clients use. Clients who manage their entire media buy through our VISTO™ platform benefit from the ability to quickly shift budget between managed platforms as we receive results of MTA reporting and actively optimize their campaigns.