A significant advantage of digital media over other channels is its measurability - the ability to more easily quantify the value that can be attributed to investments in digital ads versus other forms of more traditional media. This doesn't mean however that a perfect single solution for measuring digital media effectiveness exists - yet for too long many advertisers have relied solely on models like last-touch attribution that provide a too-narrow view into the impact that their digital campaigns are driving. Working in advertising, I have seen a shift amongst marketers towards an approach some companies have started dubbing as a "Measurement 360" approach.
I think it's appropriate that this approach is described through a framework that illustrates how measuring the effectiveness of digital media is an iterative approach that involves a suite of tools and processes as opposed to a single solution that represents one absolute source of truth. Recognizing the unique value-adds and drawbacks of tools like MMM vs. experimental testing vs. more real-time attribution is important when defining clear swimlanes for each piece of a Measurement 360 approach. As more marketers move towards an approach that ditches over-reliance on one single solution and more openly acknowledges that measuring media isn't about finding a single absolute value (vs. a range of potential outcomes), I become more optimistic about the efficiencies and accretive value that digital advertising can continue to deliver for brands in the future.
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