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Move Beyond the Why To the What Now: How to Act on Your Analytics Data

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Move Beyond the Why To the What Now: How to Act on Your Analytics Data

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Between industry upheavals in attribution and emerging media channels like OTT, knowing where, how, and when to invest your limited media dollars to maximize results is only going to become more challenging in 2023.
The good news is that Tinuiti’s Analytics team has developed a robust system for driving performance marketing success through actionable insights—and they’re peeling back the curtain (just for our clients and no one else) to show how it’s done in this exclusive webinar.

Join Tinuiti’s Will Hammond, Executive Data Scientist, and Annica Nesty, Group Director of Integrated Intelligence, to learn how our team solves complex business challenges for brands of all sizes with cutting-edge marketing intelligence and media activation technology.

Between industry upheavals in attribution and emerging media channels like OTT, knowing where, how, and when to invest your limited media dollars to maximize results is only going to become more challenging in 2023.
The good news is that Tinuiti’s Analytics team has developed a robust system for driving performance marketing success through actionable insights—and they’re peeling back the curtain (just for our clients and no one else) to show how it’s done in this exclusive webinar.

Join Tinuiti’s Will Hammond, Executive Data Scientist, and Annica Nesty, Group Director of Integrated Intelligence, to learn how our team solves complex business challenges for brands of all sizes with cutting-edge marketing intelligence and media activation technology.

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Move Beyond the Why To the What Now: How to Act on Your Analytics Data

  1. 1. Move Beyond The Why To The What Now How to Act on Your Analytics Data 1
  2. 2. Today’s Logistics Connor Thompson Client Marketing Manager Recording & slides will be in your inbox shortly after the session Download relevant resources Join our chat and submit questions for live Q&A Log back anytime with same link Join our poll questions! 2 LIV
  3. 3. WE’VE MASTERED THE MEDIA THAT MATTERS MOST Tinuiti is the largest independent performance marketing firm across Streaming TV and the Triopoly of Google, Facebook, Amazon. Employees Media managed Award-winning culture* $3B #1 1000+ 3
  4. 4. Some of Our Clients Our Recognition For Commerce Leaders Of Today And The Future 4
  5. 5. Our Speakers WILL HAMMOND Data Scientist ANNICA NESTY Group Director, Integrated Intelligence 5
  6. 6. Agenda ● How we act on Data at Tinuiti? ● Tinuiti’s Data Informed, Measurement Approach: How they Sit Together in a Unified Framework? ● Use Case ● Key Takeaways ● Q&A 6
  7. 7. What is your biggest obstacle when it comes to acting on your data? ● Complex data landscape ● Not enough data ● Unclear data strategy ● Lack of access to tools ● Not having the right measurement solution 7 POLL
  8. 8. How we Act on Data at Tinuiti? 8
  9. 9. Enabling Your Ability To Make Smarter And Faster Decisions Data is a strategic asset that enables our ability to make smarter and faster decisions: ● Understand your customers on a deeper level ● Improve business operations ● Identify opportunities to drive sales Targeted Measurement Solutions Explain Predict Optimize
  10. 10. Benefits Of Having A Strong Data Strategy 10 Move from reactive to proactive business management Drive productivity with easily accessible data Develop, test, refine marketing strategies to meet goals Improve customer relationships through personalization Improve product and service offerings Discover and unlock the advantages of predictive analytics
  11. 11. How We Act on Data at Tinuiti? Business Requirements/Scoping Having clear goals and objectives at the start will help you to identify the metrics that really matter. What are trying to measure, what are you trying to improve, questions to be answered, and ultimately, the KPIs to answer those questions Data Exploration - Sourcing and Gathering With a good understanding of what questions the business is asking, we can turn to the next element: analyzing data sources, how that data is gathered, and where the data exists Solution Design Planning and developing a flexible and scalable solution that is customized and focused on the business needs and analytical maturity Implementation - Measurement and Tracking Turning data into insights with strong data governance and strategy that is supported by an analytical plan and roadmap through democratization. Building a solution that allows us to use visualizations and storytelling to quickly spot trends and outliers, and present context metrics, anticipating the investigation path. Providing the right level of details with key drill down capabilities
  12. 12. Tinuiti’s Approach To Acting on Data with Measurement 12
  13. 13. EXPLAIN PREDICT OPTIMIZE Solutions Designed With Your Business Questions In Mind ● What are the most common and most valuable paths to conversion? ● How effective is media channel by product? ● How does the upper funnel spend impact lower funnel performance? ● How would you propose we segment our customer database? Custom Multi Touch Attribution | Customer Segmentation | Incrementality 13 ● How well will current and planned budgets perform? ● What revenue performance can we expect in the first quarter? ● Are we spending too much to acquire customers? ● Who is most likely to be a high value customer? Marketing Impact | Advanced Forecasting | Customer Lifetime Value ● What is the optimal mix of media over time to increase new customers? ● How much should we increase our investment by to increase ROI and market share ? ● What is the unique contribution of this channel to revenue? ● What media investment is needed for a 50% YoY revenue increase? Marketing Mix Modeling
  14. 14. Multi-Touch Attribution 14 Customer Journey ● The way we perform a custom multi-touch attribution is by building on customer journey data ● Customer journey data is any media interaction or media event data (this can be clicks, views, email sends, etc.) that leads to a conversion (sale of a unit, visit, download of an application, etc.) ● After we have assembled this data, we can go beyond last-click attribution, and leverage Machine Learning Algorithms to estimate the unique contribution of each interaction along the customer journey to conversion EXPLAIN ● What are the most common and most valuable paths to conversion? ● How effective is my media mix? ● Which channels drive the most new customer sales? Custom Multi Touch Attribution
  15. 15. 15 Multi-Touch Attribution Solution Overview This is achieved by mapping out the customer journey, and each step in that journey, that leads to a conversion. Relationships are examined between them to estimate the unique contribution each step has in the conversion path. Delivers multi touch attribution measurement beyond traditional last-click attribution. Media Activity - Individual Level (Paid search, Social etc...) Sales Units or Sales Revenue MOBIUS: DATA REQUIREMENTS MOBIUS: MODEL REQUIREMENTS Minimum of 1 MONTH of historical data TARGET MODEL DRIVERS MULTI-TOUCH ATTRIBUTION MODEL Review and assess historical attribution Ongoing evaluation Evaluate salience of channels in customer segments Future optimization Evaluate top converting paths Future execution
  16. 16. What Is The Unique Contribution Of Each Channel? 16
  17. 17. Incrementality Studies 17 EXPLAIN ● What is the incremental impact of increasing my budget for Social? ● What is the incremental impact of going dark with Display? ● What the incremental impact of the new product release? ● What is the incremental impact of increasing investment in the upper funnel? ● What is the impact of expanding social to include Pinterest? Incrementality Testing An incrementality framework can measure continuous changes and provide daily measurement of adjustments to media execution, and can be used in conjunction with other forms of measurement (MMM, MTA, etc.). Be more informed about impact of changes in budgets, which helps improve optimization efforts Measure the impact on sales; analyze what is driving the strongest response across audience segments Using data to inform how effective changes in messaging and/or creative is at reaching target audience Test the impact of a new media channel, new product lines and leverage insights to scale investment. Ongoing measurement of impact of changes in advertising INCREASE/DECREASE IN MEDIA SPEND CAMPAIGN EFFECTIVENESS; TACTIC EFFECTIVENESS CREATIVE, MESSAGING, OFFERS EXPANSION TO NEW MEDIA CHANNELS & NEW PRODUCT LINES
  18. 18. Inputs And Data Requirements 18 ● 90+ days of historical Campaign level data by retailer to begin ● Ongoing daily Campaign level data by retailer ● Key segments ( Product Lines & Targeting types) ● Learning agenda ● Offline activity ● First party sales ( revenue, conversion, profit) ● Ad group level data ● Promo calendar ● Product Launch Calendar ● Other Digital Activity Must Have Considerations Nice to Have Considerations Retailor Type Campaign - Product
  19. 19. GEO MATCH MARKET GEO / AUDIENCE SPLIT MARKET SYNTHETIC CONTROL Incrementality Measurement Types ● In this measurement approach the test or exposed group is a specific market(s). ● The remaining markets would be evaluated to determine if there is a single market or group of markets that is comparable to the exposed group (a “match”). ● We will use the difference between the matched markets to determine if there was a statistically significant incremental lift due to the intervention. ● In this measurement approach we split the audiences and/or markets - DMA, State, City or Zip level geos into randomized, comparable groups ● This is dependent on the ability to execute media at the specified audience and geo level. ● The test group would be exposed to the intervention, while the control group would remain business as usual. ● This approach is used if we are unable to define a balanced test/control group, or execute media on the geo/audience grouping approaches described. ● We will develop a predictive model based upon historical data before the intervention or change in strategy. ● The model will be used as a synthetic control to help us predict what the performance would have been if there was no intervention. 19 TEST CONTROL TEST CONTROL Recommended
  20. 20. What Is The Incremental Impact Of The Budget Increase In Social? 20 1. TRAIN Start Day 2. PREDICT 3. MEASURE Synthetic Control
  21. 21. Marketing Investment Impact & Sales Response 21 PREDICT ● How well will current and planned budgets perform? ● What revenue performance can we expect in the first quarter? ● Are we spending too much to acquire customers? Marketing Impact Analysis Media Activity: Channel Level (Paid search, Social etc...) Operational Activity Promotions, product launch etc..) Sales Units or Sales Revenue TARGET MODEL DRIVERS MOBIUS: DATA REQUIREMENTS MOBIUS: MODEL REQUIREMENTS Minimum of 1 YEAR of historical data Marketing Impact + DMR Review and assess historical performance Measures unique contribution of each channel Historically describes points of DMR Utilizes econometric models to determine spend-response relationships. Historically describes points of diminishing return.
  22. 22. Marketing Impact Example 22 ● The channel ROI view gives us a high level understanding of the average ROI of each channel, as well as the spread we have seen from it ● From here we are able to understand the rank order of media channels
  23. 23. Performance Scenario Revenue Projection And Recommended Investment 23
  24. 24. Current View Post MMM View OPTIMIZE Marketing Mix Models Help Us To Assess Opportunities For Growth And Identify Areas Where We Can Improve Efficiency 24 ● What is the optimal mix of media that is most effective for reaching a target audience (ex. younger audience segment or high LTV customers)? ● How much should we change our level and allocation of our media investment to increase ROI? ● How should we be adapting our budget allocation strategy based on macroeconomic trends? ● Which channels are most effective In store vs. Online? Econometric models are used to decompose the contribution of Media MARKETING MIX MODEL
  25. 25. 25 Media Activity: Channel Level (Paid search, Social etc...) Operational Activity Promotions, product launch etc..) External Factors (Unemployment rate, Competitor Spend, COVID etc..) Sales Units or Sales Revenue TARGET MODEL DRIVERS MOBIUS: DATA REQUIREMENTS MOBIUS: MODEL REQUIREMENTS Minimum of 3 YEARs of historical data MEDIA MIX MODEL Review and assess historical performance Future forecasts Evaluate current marketing initiatives What if analysis Optimize spend across media channels Ongoing evaluation Evaluates past marketing performance to measure how media channels drives sales to determine “true” marketing ROI and optimal mix of media activity. Delivers multi channel attribution measurement Media Mix Modeling Overview
  26. 26. What’s Included In Our MMM Solution? 26 Business Outcomes ● Revenue/Conversions ● Leads Key Segments ● Geos - DMAs| Region| Zip | Countries ● Business Type / Service Lines ● Product Type / Category Media ● Online Media ( Search, Social,OTT, Display, Organic etc...) ● Offline Media ( TV, Direct Mail, Outdoor,OOH, Print, Radio etc..) ● Campaign ● Platform ● Tactic- Brand|Non Brand | Prospecting| Retargeting ● Upper | Mid | Lower Funnel Non Media ● Promotions ● Product Launches ● Creative Macroeconomics ● GDP ● Unemployment ● CPI ● Inflation ● Volatility index ● COVID Impact ● Global Events Competitor Performance ● Media Spend Weather Holiday/Seasonality Because no model is perfect BUSINESS OUTCOME MARKETING FACTORS NON-MARKETING FACTORS ERROR
  27. 27. How Do We Use The Insights From An MMM To Drive Growth? ● Multi channel attribution ● Measure channel effectiveness and how that changes overtime ● Assess channel spend saturation ● Explore sales response based on various levels of spend ● Determine channels that can be used to push spend and drive growth vs. channels where spend can be scaled back ● Determine the most effective budget allocation based on media mix channel ROI ● Test various budget allocations to forecast future performance and determine which plan provides the best return on investment over time ATTRIBUTION SATURATION & DIMINISHING RETURNS ASSESSMENT OPTIMIZATION AND FORECASTING 27
  28. 28. Powered by 28 DATA IS AT THE HEART OF EVERYTHING WE DO WITH OUR PROPRIETARY SUITE OF MARKETING INTELLIGENCE & MEDIA ACTIVATION TECHNOLOGY UNIFY Connect, collect, and synthesize your data in one place to make it easy to understand and act on. OPTIMIZE Get targeted analytics solutions that allow us to enhance and customize the way your data is analyzed.
  29. 29. 29 Seamlessly Unify Your Data In One Location FLEXIBLE ENOUGH TO PULL DATA FROM WHEREVER IT LIVES, CENTRALIZING EVERYTHING YOU NEED 32BN ROWS OF DATA INGESTED 500+ PLUG & PLAY INTEGRATIONS
  30. 30. How We Leverage These Insights? Case Studies 30
  31. 31. MTA Insights - Positive Lift In Contribution From Tinuiti Managed Paid Media Channels In The Last 12 Months Instore +11% Lift Online +8% Lift 31
  32. 32. MMM - Assess Opportunity To Lift Spend Across Channels Funnel Channel Current Budget Allocation MMM Optimized Budget Allocation Opportunity to Lift Spend (%) Upper and Mid Funnel Display 9.98% 10.44% 4.6% OTT 4.74% 6.62% 39.7% Social 33.95% 11.93% -64.9% Lower Funnel Search 19.73% 26.94% 36.5% Shopping/PLA 19.05% 26.58% 39.5% Affiliate 12.54% 17.49% 39.5% 32
  33. 33. Incrementality - Assess Budget Shifts And Other Key Activities Incremental Impact Online Instore ● A synthetic control framework is: ○ Always-On ○ Non-disruptive ○ Privacy robust (no user level data needed) ○ Reduces test contamination ● An “always on” measurement framework can track the effects of changes to the following: ○ Budgets ○ Bids ○ Targeting Type (Branded, Category, Conquesting) ○ Product Focuses ○ Placement Types ○ Total Investment Strategy (ads on or off) 33
  34. 34. Value Based Segmentation -Loyal Active Is The Top Value Segment And Accounts For 28% of the Customer Base Generating 69% Of Total Revenue 34 High Value (Share of Revenue) High Share of Customers Identify top opportunities for growth leveraging segments insights ● Increase Lifecycle Conversion of Onetime Active & Inactive Customers ○ Orchestrated lifecycle campaign activation / execution to encourage next purchase ● Increase Targeted Customer Acquisition ○ Model Look-a-like to target and acquire high value customers (Best Customers= Loyal Active) , via the optimum channels
  35. 35. Key Takeaways 35 ● Spend time identifying your core business needs and goals so you can create a realistic data strategy going forward ● Drive productivity with easily accessible data. Having access to the right data at the right time ● Align on sources of truth and KPIs that can be used for monitoring performance ● Activate the use of an ensemble of measurement solutions to get a holistic view of media performance on business goals ● Measuring at different granularities to optimize media at a macro and micro level
  36. 36. Q&A WILL HAMMOND Data Scientist ANNICA NESTY Group Director, Integrated Intelligence 36
  37. 37. Schedule time with Andrew Richardson ANDREW RICHARDSON SVP of Analytics & Marketing Science 37
  38. 38. 38 Stay informed on the future of digital marketing Visit our new content hub ➜
  39. 39. Thank you! 39

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