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Goodway Group POV Guide
10. B2C Marketers Will Favor MTA and Incrementality In 2024, B2C brands will be pushed more than ever to leverage person-level data to measure the impact of marketing attribution. Since media mix modeling (MMM) doesn’t show user-level engagements such as clicks and impressions, marketers instead will use multi-touch attribution (MTA) models and incrementality testing to gain the right insights to prove the value of their efforts on revenue.
Media Mix Modeling A sophisticated statistical model that incorporates investment and delivery data to better understand budget and channel priority for investment and planning.
However, if evaluating larger, more holistic questions such as where to invest additional funds and how best to budget for these online and offline channels, marketers will rely on MMM in 2024.
Commerce & RMN Trends Here are some major commerce and retail media network (RMN) trends to anticipate in 2024.
Multi-Touch Attribution Utilizes performance data to demonstrate the combined impact of multiple consumer touchpoints on driving consumer behavior toward business goals.
11. Omnichannel Digital Experiences Are on the Horizon To cater to changing consumer behavior, commerce brands and retailers will continue investing in and creating omnichannel digital experiences both in-store and online. Stores will become more like their online counterparts, leveraging technology to produce seamless end-to-end customer experiences. Retailers and manufacturers will also continually favor a direct-to-consumer model.
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Incrementality Also referred to as "incremental lift," this demonstrates the impact marketing has toward capturing new customers beyond those the brand was likely to gain without media present.
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