Although it’s a precarious time to make sweeping business changes, Gain Theory’s Russell Nuzzo makes the case for near-term measurement in lieu of marketers’ favourite – multi-touch attribution. Every organization is asking the same question: if the world economy is frozen, what can I cut that will still allow me to come out of the running blocks fast? Unfortunately for many marketers, the decisions around investment cuts are being made by finance, with only the savviest of chief marketing officers having a say. Right now, marketers need to justify every dollar by using the most accurate and relevant data possible to make fast decisions that will have a positive impact. In this climate, businesses that can, need to generate revenue now. If return on investment was important for advertisers before the Covid-19 outbreak, it’s absolutely mission-critical now. And for marketing measurement, if anything good can come of the current crisis, it’s that brands begin a renewed focus on mastering what we call ‘near-term performance measurement.
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