NEW YORK: The Mobile Marketing Association (MMA) has announced the creation of a new body that will "help rethink the world of marketing measurement and attribution".
The MMA Marketing Attribution Think Tank (MATT) is backed by 24 of the trade body's members, including Allstate, Bank of America, 1-800Flowers.com, Procter & Gamble, The Coca-Cola Company and Unilever. Its first initiative will be to look at multi-touch attribution (MTA) – the "Holy Grail" for the industry.
"It likely is the biggest thing mobile marketers will ever take on," Greg Stuart, CEO of the MMA, said in describing MATT's mission.
"We need to rethink what we're doing with the billions of dollars that we are spending on behalf of shareholders to invest in building a business or a brand. And we do not have the tools to do that today.
"So we are going to seek to give marketers better measurements, better tools, and, most importantly, the confidence to apply some of these next-generation measurement tools, in effect connecting marketing to business outcomes. Because that is what has been missing."
Many marketers, Stuart continued, lack the knowledge and experience to make sense of the current landscape, not least because there are a huge number of vendors offering many different modeling solutions. The 20 providers assessed in detail by the MMA, for instance, used 25 separate techniques.
In response, MATT's goal will be to "help marketers to select the right partner for them to work with, the right MTA provider, and apply that with confidence to their business," Stuart explained.
As further support for this objective, the MMA found that the marketers already using MTA gave it a -35 Net Promoter Score, a figure that Stuart compared with the -10 registered by budget motel chain Motel 6. "So we have a lot of work to do," he stated.
"We're really going to dig in and pull apart this whole category, and really look at the whole landscape — find areas where we can provide clarity, find ways where we can do validation, find ways where we can test lift, find ways where we can write standards to give you the confidence to go and do this."
MATT's aims to bring together the many providers to find a better way forward for clients were welcomed by Sanjay Gupta, EVP/marketing, innovation and corporate relations at insurer Allstate, one of the backers of the project.
"The truth is we can all benefit from better tool sets," he said. "It still doesn't make it equal from a marketing standpoint, because what works for me may not work for my competitor.
"So we will try to build edges, but I don't think too many marketers believe the tool set itself will give them an edge."
Readers interested in this topic can download a complimentary copy of Warc's report: ROI: New thinking in attribution.
Data sourced from MMA, Advertising Week; additional content by Warc staff