TV and Radio Attribution: Improving GRP Allocation
Use media mix modelling to improve the effectiveness of your offline campaigns.
It is relatively easy to plot online customer journeys thanks to cookies and tracking pixels. Multi-touch attribution (MTA) is used to determine how much each touchpoint in the customer journey contributed to a conversion.
The effectiveness of offline channels is more difficult to determine.
Offline data is only available on an aggregate level. We can’t tell, for example, whether an individual has seen a particular TV commercial or display ad, nor can we place these offline touchpoints in their customer journey. MTA can’t attribute values to these offline touchpoints. For this purpose, we use media mix modelling (MMM). Eventually, the two models can be combined in a unified model, allowing us to determine the effectiveness of all on- and offline channels.
Whereas many models can only measure a daily or even a weekly aggregate effect of TV and radio advertising, our media mix is modeled on an hourly level. This means we can attribute value to both the channel level and individual TV or radio spots.
The benefit of this approach is the ability to measure the effect of offline media properties like the hour of the day, the TV or Radio channel, or the spot length. This information is in turn used to optimize TV or Radio spots by broadcasting on, for example, the most effective times of the day.
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