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Don’t drink and derive. Alcohol and algebra don’t mix ! 3
How do we buy online ? Click Impression Click Creative FB 1 Creative Disp 1 - “t shirt” RMX Facebook Adx - Adwords Time Conversion Impression Creative Disp 2 Event Channel KW / Creative On average there are 4-6 touch-points across digital marketing before conversion.
5 PROBLEM WITH “LAST CLICK” DIRECT $10,000 INDIRECT $20,000
Changing attribution will impact channel budget allocation.
Understand the impact before you make the change.
CROSS CHANNEL OPTIMIZATION: THE VISION $ Facebook BiddableDisplay $ Budget Bids Budget: $$$$$$$ Multiple Goals:(1) Max Revenue (2) >10,000 Leads “Dynamically model all cross-channel interaction effects and apply optimization algorithms to determine the correct media mix.” $$ SEM $$$$ TV Cross Channel Modeling
CROSS CHANNEL OPTIMIZATION ALL ONLINE CHANNELS Total Marketing Budget: $12,000 10
CROSS CHANNEL OPTIMIZATION TV + SEARCH Collect SEM and TV data Determine Revenue attribution for the multi-point multi-channel funnel Build TV Models Build SEM models Cross Channel Optimization using portfolio theory Cross-channel Efficient Frontier Objective: Given an overall budget, find the best way to bid across search and TV to get the maximum return for the advertising dollar.
CROSS CHANNEL OPTIMIZATION PRESS + SEARCH Typically 6-7 weeks of improved performance on Search due to TV and press advertising campaigns
CONCLUSIONS First pre-requisite: Work through tracking to unify data for analysis. Attribution is a partial solution. Attribution + Algorithmic Optimization is the solution for answering the media mix question Still a young field with tons of potential ! 13