March 20, 2018 - By Ginna Hall, Senior Writer, Visual IQ
Digital innovation has created a new set of opportunities and challenges for marketers. To be effective, every member of your team and your agency partners need a holistic picture of performance. New tactics require new solutions that make it possible for your organization to work together toward shared goals.
At Visual IQ, we help marketers of all kinds keep up with the new demands of the digital era. Our intelligent solution brings audience attributes and marketing performance together to allow true insight.
In our recent webinar, "Time for an Attribution Upgrade: Don’t Get Left Behind in the Digital Era" Visual IQ CMO Wayne St. Amand and Product Marketing Manager Moira Freeman present an inside look at the constantly changing landscape of digital marketing and analytics.
Wayne and Moira took questions at the end of the webinar. If you submitted a question, thank you! Here are answers to the top ten questions we received. If you have any others, please reach out.
> > Download our new ebook Time for an Attribution Upgrade: Don’t Get Left Behind in the Digital Era
Studies show that the vast majority of consumers go online to research products before buying offline. Yet many marketers struggle to evaluate how offline sales are impacted by their digital marketing efforts. Marketing attribution can help bridge this gap by correlating digital marketing spend directly with consumers who purchase offline.
As long as marketing performance data and offline purchasing data are available to be married together, conversion actions (i.e., paid and organic searches, email opens, site visits) can be associated with actual purchase data, providing a new lens into each sale and the funnel events that triggered it. By applying attribution to this information, marketers can optimize their spend on those tactics that have the greatest impact on purchases.
Visual IQ offers a number of adapters than can integrate user-level data from digital and offline channels. We gather impressions from every online and offline channel by leveraging our partnerships. Through a partnership with Tapad, Visual IQ is able to deduplicate users across disparate devices and browsers. Additionally, we get TV data from Nielsen and can leverage LiveRamp for identity resolution data.
We integrate direct mail either with help of Visual IQ Vision Partners or by working directly with customers by implementing a synching mechanism. The benefit is that our platform can more accurately assign fractional credit to each direct mail interaction so you can learn how much it contributes to a conversion including offline conversions.
Pricing varies by base software, which adapters you choose, your media volume, and other factors. We work with some of the largest, best known brands that have multiple millions in digital spend. These are enterprise level engagements. To learn more about the product and whether it’s a fit for you, please visit our site. You can also request a custom demo with one of our solutions consultants to get a sense of pricing for your scope.
It’s called fractional weighting. We have a proprietary methodology that we call True Attribution. Depending on your KPIs and desired outcomes, the model will weight dimensions differently and assign value based on your goals. It’s not a one size fits all approach. The model adjusts to make sure it’s assigning value in a way that matters to you.
One huge benefit of multi-touch attribution is that it gives you a single source of truth. The Nielsen Visual IQ Marketing Intelligence Platform consolidates people-based insights with multi-touch attribution in a single user interface, so marketers can optimize marketing and advertising performance across channels and devices, by audience segment. This allows you to work with partners and channel managers to come to agreement about how you’re going to look at data and understand performance.
Multi-touch attribution creates an anonymous persistent ID by reconciling the information a brand collects about their customers and prospects (first-party data) with information gathered by external organizations (third-party data). Combining these two elements allows marketers to forge a unique, anonymous ID that contains an enriched profile of each individual. All personally identifiable information (PII) is removed to safeguard privacy so you can not tell who the person is.
We ingest data daily and refresh the model on a daily basis. That’s unique. Not every multi-touch solution does that. It operates on a much quicker basis than Marketing Mix Modeling.
While most of our customers are B2C, we also work with many B2B companies. Some of the larger B2B organizations tend to market as if they’re B2C. We become a really good fit for companies with large digital teams that have B2C marketing characteristics.
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Download our ebook Crossing the New Digital Divide: Your Guide to Marketing Effectiveness in the Digital Era to learn more about how digital has changed marketing and how you can take advantage of new opportunities.