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For the first episode of Attribution Accelerator 2018 series, Thomas Bauer, Partner at McKinsey & Company joins Sima Vasa. He rounds up some of his realizations from the forum and how marketing has become a true pillar of growth for the industry.
“It’s never really the analytics that do the job but without the analytics, it’s a tough business for a senior marketing executive.” – Thomas Bauer
Thomas Bauer – On Attribution Accelerator 2018
Thomas has always seen the Attribution Accelerator as extremely engaging. He likes to see the community coming together and talking about attribution. There has been a lot of movement recently and the scene is constantly evolving.
For this particular year, Thomas moderated a session on brand attribution when last year there was none. He is very happy that things are progressing.
“The way that attribution is looked at is becoming even more comprehensive.” – Thomas Bauer
Economic Value of Marketing
This progress is apparent when people look at the entire economic value created by marketing and making sure that they pay attention to it analytically.
For instance, when people talk about brand ROI, it is one thing to have a very strong contribution and a solid view on the short-term effects. Mathematically, you can do quite a few things wrong on short-term. But it is another matter to aim for capturing the long-term effect of marketing properly.
“We see some convergence towards a more granular model, towards people-based models, more attention to data stitching.” – Thomas Bauer
Marketing as a True Pillar of Growth
Brands have to deal with the difference between short-term and long-term goals based on marketing ROI in measured marketing dollars. Budgeting is always a short-term focus and it is hard to defend the case to invest more because there is a lack of credible ROI measurement.
However, people must subscribe to the case of marketing as a true pillar of growth. This is why it’s important to have the best analytical weapons to support these discussions.
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