Walled gardens and cross channel measurement are commonly discussed hurdles to attribution, however one of the biggest challenges today is actually incrementality.
That’s the view of Jerome Crochat, Quantcast Group Product Manager.
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“With attribution now, marketers take all different parts of the conversion, and distribute to the different partners on the plan, but they don’t measure how many conversions would have taken place anyway and how many were incremental thanks to the marketing budget,” he told Which-50.
“I don’t think we are close to a really good solution yet. It’s going to come. It’s also a difficult conversation to have with your client.”
And there is a further problem says Andrew Double, Quantcast Australia and New Zealand Managing Director says. Even where marketers are engaged in attribution modeling, some are unwilling to act on the findings of their work.
“The other thing we see is that the media plan is not being changed, even after Multi-Touch Attribution models are implemented,” added Double.
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As a player in the retargeting and prospecting world, Quantcast brings an interesting perspective.
“The market has created re-targeting and prospecting in order to check who is adding new users and getting conversions,” he said.
However Double says there are only a small amount of people who are open to re-targeting, and who can be influenced as many people have already made their decision about whether they are going to buy that product or not.
“It’s all about the impact that you can create by re-targeting and that will vary by sector or advertiser”, he said.
“In our view the longer-term value is created by prospecting.”
Unlike retargeting, prospecting is about finding net new customers who have a higher propensity to convert and actually buy a product.
“Right now, you can see why there is a significant investment in re-targeting when there is so much focus on last ad and last click,” Double said. “You get most of that through re-targeting. So we operate in both but we see business objectives over the long-term being achieved through prospecting. “
There are two aspects to the Quantcast business. On the one hand the company has a web analytics business that enables audience measurement. But it doesn’t profit from this business.
Instead it makes its money selling advertising where it is able to prospect and retarget using machine learning and analytics. “Konrad Feldman (co-founder and CEO) has a background in building inference models for the finance sector.”
“The business was founded using machine learning,” says Double.
He acknowledges Quantcast still has a little education to do in the local market.
“It can be confusing to marketers. Some think of us as a DMP. Some think we are audience analytics, some see us as a DSP, where we think we are unique, is that we are all integrated as one. That’s Quantcast in a nutshell.”