This week has seen some amazing developments in generative AI, with the world seeing what Sora can do with predicting pixels in video to create hyper-realistic clips that account for real-world physics, occlusion, and much, much more (check out this video for a take on how this could prove simulation theory!)
If you’re an advertiser at the scale where you’re using econometrics or MMM, you should be aware of the amazing things being done in a new field called Generative Marketing Attribution, pioneered by our partners at Marketing Evolution.
In short, generative AI is used to predict media exposures associated with each and every conversion, using a combination of an overall consumer response model, an advertiser’s exposure data and the KPI data, where these can’t be stitched together normally (e.g. it’s OOH, radio or TV ads).
As an advertiser, why should you care?
In a word: granularity.
This level of granularity creates an omnichannel path to conversion that is accurate/predictable and also very explainable.
Media attribution and customer journey analytics that naturally comes with audience and geographic insights.
Advertisers who are deeply experienced in econometrics are finding that this generative marketing attribution approach helps solve problems that can’t be done with MMM:
Weekly reads on the data
Intra-campaign optimisation
The specific campaign is someone actually responding to (e.g. if you have dozens of campaigns in play at any time)
Which assets/messages/formats are performing best on specific publishers, for this audience we’re t and this particular product.
How are online actions driving offline sales
The incremental value of the CRM activity and the media exposures that were also involved in that email conversion.
This seems to be particularly resonating with retail, bank, insurer, and automotive brands, ie advertisers with multiple departments/lines of business, multiple KPIs, a mixture of online and offline conversions.
If you’re not yet doing MMM but are struggling with data quality for MTA, we can also do amazing things with pure digital media data too, filling in those missing signals from walled gardens or blocked cookies.
And if you’re a brand that is doing MMM and also MTA, we really should talk. There are some huge efficiencies to be had!
