Referred to as 'attribution', this type of tool seeks to assign relative values to all the parts of a digital campaign and attribute credit to each asset that a customer was exposed to or interacted with during the conversion process.
"It helps you to attribute how much of your conversions are coming through the various channels," Jordan Khoo, MediaMind's Asia-Pacific regional director, told Campaign Asia-Pacific. "For example, say you were converted after a search clickthrough, but before that you were actually exposed to display ads twice, and you played a video."
MediaMind has been working with Encore for some time, but decided to make the association formal because of the latter firm's in-depth knowledge and success working with MediaMind's agency clients, Khoo said.
An attribution system requires a lot of advance thought in terms of how much value each part of a campaign should receive, not to mention the data-gathering and statistical modeling required on the back end to deliver the goods, Khoo said. Far from providing a one-size-fits-all solution, Encore provides a service by working directly with agencies and their clients to tailor the tools and the data modeling to work within each campaign and vertical market.
Regionally, Australia and Japan are the markets leading the way in adoption of attribution tools. "We are very excited over the partnership given the fact that as digital gains more traction across APAC, clients are becoming more data-hungry," Khoo said.
Looking forward, the partners will be offering clients the ability to connect the attribution offering directly to their CRM (customer relationship management) tools in order to provide more holistic insight into how campaigns impact purchasing decisions, Khoo added.
MediaMind works with a who's-who of leading media agencies, Khoo said, including Mindshare, MediaCom, Omnicom Media Group and Starcom MediaVest.