Rebuilding attribution models daily yields up to 33% more accurate metrics
London, UK: Visual IQ, the leading cross channel marketing attribution software provider, announced the launch of daily attribution. This methodology enhancement to the company’s advanced marketing attribution platform rebuilds algorithmic models on a daily basis to produce the most up-to-date attributed metrics. The process greatly improves the accuracy of measurement insights and optimisation recommendations at a time when programmatic platforms are commonplace, and require the most current metrics to inform buying decisions.
According to a commissioned study recently conducted by Forrester Consulting on behalf of Visual IQ, “Bring Algorithmic Attribution Up to Speed: Accelerate Your Attribution Insights for More Effective Digital Channel Optimization,” marketers are using algorithmic attribution for cross channel measurement and optimisation, but not at the speed they would like. In fact, almost three-fifths (58%) reported that optimising daily is important or very important, but only one-third said they could do so today based on attributed metrics. Visual IQ’s daily attribution methodology solves this problem for marketers by producing TrueMetricsTM on a daily basis, which can then be automatically passed to media buying platforms, such as DSPs and paid search bidding platforms, via the IQ Deploy® product, improving the effectiveness of real-time buying and optimisation.
Independent analysis conducted by Visual IQ based on client data confirms that a daily model rebuild can have a significant impact on ROI when compared to less frequent rebuilds. In fact, the analysis showed that producing daily metrics based on weekly model rebuilds, as opposed to daily model rebuilds, can skew the accuracy of your attributed metrics by 9%, on average. And the difference was seen to be as high as 33%. While optimising based on attributed metrics produced from a weekly model rebuild will increase ROI more significantly than optimising based on last-touch metrics, the benefits are incrementally higher when rebuilt daily. With multiple campaigns running throughout the year, daily attribution could result in significant efficiency gains to an organisation’s bottom line.
While many attribution providers claim to produce daily attributed metrics, Visual IQ is the only vendor actually delivering on this promise. Attributed metrics might be produced daily, but are interpolated based on models that were built a week ago or longer, which significantly reduces their accuracy.
“Marketers need access to the most up-to-date metrics so they can react quickly to changes in market conditions and keep pace with their competitors’ ever-changing strategies,” said Manu Mathew, CEO and Co-Founder, Visual IQ. “By rolling out daily attribution rebuild capabilities, we are providing our customers and partners with the most accurate performance metrics so they can optimise in near real-time based on the latest attribution-informed insights, ultimately increasing their ROI over the long-term.”
Daily attribution is available to existing Visual IQ customers today. To learn more about daily attribution or the IQ Intelligence Suite, please visit visualiq.com.
About Visual IQ
Visual IQ produces the world’s most powerful cross channel marketing attribution software products. As a pioneer in the space, the company has been offering products since 2006. Its SaaS-based IQ Intelligence Suite reveals cross channel performance insights hidden deep within companies’ marketing data, providing actionable recommendations and optimised media plans to improve marketing effectiveness. These recommendations enable marketers and agencies to adjust their advertising strategies and tactics to significantly increase marketing ROI across their entire marketing mix – both online and offline. The functionality behind these products combines a powerful, user-friendly interface with multi-dimensional fractional attribution science and predictive analytics that clearly and accurately show marketers where opportunities exist for improvement.
Visual IQ was named a leader in cross channel attribution in 2014 by a leading market research firm, won The Drum’s Digital Trading Award for Best Attribution Solutionin 2015 and 2016 won the 2014 ASPY Award for Best Data or Analytics Solution, and was a finalist in the Digital Analytics Association Excellence Awards in 2013, 2014 and 2015. The company is a member of the Advertising Technology, Data, Public Policy and CFO Councils of the IAB, as well as on the Standards Committee of the Digital Analytics Association.