As digital marketing matures, brands are moving away from outdated last-click attribution in favor of holistic media measurement solutions.
A recent survey by eMarketer and Snap reveals that 74.5% of marketers are exploring new attribution models, with media mix modeling often emerging as the preferred replacement for last-click and multi-touch attribution. Why? MMM offers a full-funnel, privacy-compliant solution that can capture complex customer journeys across media channels.
With marketers in the US forecasted to spend $302.77 billion on digital advertising this year alone, visibility into marketing spend is imperative for any brand hoping to grow. Read on to see how Measured’s MMM solution addresses some of the main hurdles brands face in implementing media mix modeling today.
About the Report
The eMarketer and Snap survey, conducted in July 2024, gathered insights from 282 senior-level U.S. marketers who had invested over $500,000 in digital advertising in the previous year. The report ‘The Last Days of Last-Click?’ highlights growing dissatisfaction with last-click attribution, a metric used by most marketers despite its limitations.
As highlighted in the report, only 21.5% of marketers believe last-click provides an accurate view of long-term platform impacts, and nearly 75% are actively moving away from it. Many are adopting media mix modeling as a more holistic measurement solution, as it accounts for full-funnel engagement across platforms and is less reliant on third-party data.
However, traditional MMM expense, complexity, and slow insights have been barriers to widespread adoption. The findings emphasize a trend toward more comprehensive and privacy-friendly measurement approaches as marketers seek better alignment between marketing efforts and business outcomes.
The Benefits and Challenges of MMM
MMM provides a holistic, channel-wide view unhampered by third-party data restrictions, making it ideal in today’s privacy-first landscape. Unlike other models, MMM considers various factors - such as platform contribution, consumer behavior, and budget distribution - enabling brands to make better-informed decisions. However, traditional MMM has its own limitations: it can be expensive and time-consuming, require complex data collection, be slow to deliver actionable insights, and often fails to achieve the level of granularity desired.
How Measured Enhances MMM’s Capabilities
Measured’s innovative approach overcomes these limitations, transforming MMM from a slow, high-cost tool into an agile, accessible solution for brands:
- Cost-Efficiency: With Measured, MMM is included within the solution, eliminating the need for additional investment.
- Automated Data Collection: After initial onboarding, Measured continuously ingests the necessary data daily, removing manual data entry efforts and reducing the risk of inconsistencies. Measured’s data warehouse is a fully managed, automated API-based data architecture, allowing brands to onboard within four weeks.
- Granularity in Insights: Traditional MMMs offer limited detail, but Measured delivers results at both the tactic and campaign levels, providing specific insights for each conversion type.
- Frequent Model Refreshes: Measured’s MMM updates weekly, incorporating all recent data, campaign adjustments, and geo-testing results, ensuring accuracy and relevance.
- Validation Through Testing: Measured validates MMM outcomes with causal geo tests, blending experimental rigor with comprehensive modeling for precise, trustworthy results.
As brands shift toward more accurate, multi-faceted measurement methods, Measured’s advanced MMM model presents a powerful alternative that meets both today’s needs and tomorrow’s challenges in digital marketing.
Download our infographic for a more detailed look at Measured’s MMM offering and how it compares to traditional MMM; we break it down by causality, cost, accuracy/expertise, timeliness, and granularity. Or, if you’re ready to see it in action yourself, set up a platform demo today.