70% of CMOs and marketing leaders still don’t know how to measure the true return on investment of their digital marketing campaigns. (Source: Deloitte CMO survey, Feb 2020)
In a world where precision matters, this lack of clear understanding makes it virtually impossible to reallocate digital media budgets effectively to achieve key business goals. The trouble is, all existing marketing measurement solutions are flawed.
Journey-based models — like algorithmic attribution (Google DDA, Facebook Attribution, Nielsen) — are great at re-attributing credit to individual touchpoints but often don’t provide the full picture, and many can’t factor in external impacts, such as price changes and competitor data.
Trend-based models, on the other hand — like causal impact and Media Mix Modelling — are helpful at understanding long-term sales impact, but as they use historical trend data rather than real-time demand signals, they don’t let marketers take advantage of opportunities in real-time.
That’s why, at Artefact, we’ve devised a new way of measuring marketing ROI, and the benefits are multiple.