According to a survey by the Mobile Marketing Association (MMA), less than a third of marketers use multi-touch attribution (MTA), but another 35% plan to ‘try it’ within a year.
The MMA has also created a multi-touch advertising attribution ‘Journey Map‘, the results of a three-year-old Marketing Attribution Think Tank initiative, backed by more than two dozen large marketers, including Samsung, Procter & Gamble Co., Unilever, L’Oreal, Chipotle and Bank of America.
Defined as the process of measuring the value of each consumer touch point on the consumer journey to purchase in order to evaluate return on marketing spend, multi-touch attribution is (according to MediaPost) ‘the elusive Holy Grail for understanding your return on media investments’.
MTA sounds like a dream for a data-driven marketer, but the lack of standards appears to have left more than two-thirds of the marketing community waiting on the sidelines.
Wait no more
The industry is just now putting standards in place that will make multi-touch attribution more transparent and explicit.
And, according MediaPost, while you still won’t necessarily be able to peek under the hoods of proprietary systems, an accountable third-party will be doing that for you, industry ratings watchdog, the Media Rating Council.
The move will likely instill new confidence among big marketers in the science of multi-touch attribution.