June Updates: MMM Validation Insights, Incrementality Adjusted Reporting, View Through Attribution Insights

We are almost at the halfway mark of 2024 and we're ringing in our June feature updates that will improve your measurement toolkit and workflow! Let's explore!

Validate your MMM predictions

A marketing mix model's prediction ability is only as good as the data and modeler. It has to be consistently validated and calibrated to ensure its forecasting accuracy is improved and maintained. Our MMM validation insights provide you with a clear validation of the model's accuracy.

With MMM validation insights, you can

• Validate your marketing mix model's accuracy by setting aside data during the validation period
• Identify discrepancies and accuracy consistency with iterative backtesting.
• Improve and maintain your model's accuracy with optimization recommendations.

Calibrate Platform Reports with an Incrementality Factor

Everyone knows that incrementality is the most important factor in measurement and that doing granular optimizations has always been a challenge with MMM.

You can now use your MMM to generate an incrementality factor or multiplier that can be used to bridge the incrementality gap of your platform reports by adjusting them with the incrementality factor or multiplier.

With an incrementality factor, you can

• Improve the accuracy of your platform reports by adjusting or calibrating your metrics with the multiplier
• Confidently make scale, reduce, hold, or kill optimization decisions at the most granular level
• Automatically get real-time optimization insights and recommendations based on incrementality.

Understand the impact of ads beyond clicks with view-through attribution modeling

Introducing VTA, an attribution modeling solution that enables you to attribute conversions to ads that were viewed but not clicked, which provides a more holistic understanding of ad performance.

It captures platform metrics and utilizes machine learning models to predict views of ads by profiles who converted.

With VTA, you can

• Capture the full customer journey by attributing conversions to ads even when users don't click them
• Understand the performance of your display/video ads by identifying how they contributed to conversions
• Improve the accuracy of your attribution of credit and optimization by including view-through metrics

Utilize Amazon Ads data in your measurement

Integrating your Amazon Ads data into your reporting and modeling is now easier with a native integration. Collect and ingest Amazon Ads data in your Lifesight workspace simply by logging into your account and providing access.

With the Amazon Ads integration, you can

• Centralize and unify your Amazon Ads metrics like conversions, CPA and ROI with other marketing reports.
• Automatically utilize Amazon Ads data as a feature in your marketing mix modeling
• Optimize your campaigns based on Amazon sales data and understand the impact of Amazon ads across other sales channels.

Track Conversion Times Across Tactics

Get insights into how long it takes for users to convert after being exposed to your ads. With conversion time tracking, you can

• Average Time to Conversion: See the typical time it takes for users to complete a desired action, like making a purchase or signing up, after landing on your website from a specific ad channel.
• Conversion Rates: Determine which channels are most effective at turning visitors into customers.
• Percentiles: Discover the range of conversion times to better understand user behavior

Flag Tactics that Require Testing to Improve Accuracy

There will always be some gaps in your MMM accuracy and so you have to launch tests to get more accurate reads that is closer to the ground truth. To help flag tactics that require incrementality testing, our causal flag feature automatically validates your data points and provides recommendations to run tests.

That's a wrap for the first half of 2024! We have some great features coming to you in the 2nd half that will be game-changing features that will leapfrog your competition and drive sustainable growth in 2024.