Ep 591: Attribution and Sources Of Truth - What Platforms To Believe with Michael True, Prescient AI
Imagine the confidence you'll gain by making informed, forward-looking decisions and forecasting with accuracy using machine learning. We discuss the shift from granular metrics to a grander perspective that focuses on your marketing efficiency ratio—knowledge that can keep your brand ahead of the curve.
In this episode, Jordan West with guest Michael Churm, the co-founder and CEO of Prescient AI. Michael brings his rich tech experience from Oracle, IBM, and App Annie to share how Prescient AI is revolutionizing marketing measurement. We explore the transformative impact of AI in navigating post-iOS 14.5 challenges, the role of multi-touch attribution, and the importance of understanding ad spend's impact on revenue.
Listen and learn in this episode!
Key takeaways from this episode:
Adaptation to Modern Measurement Challenges: Prescient AI offers analytics solutions devoid of cookies, adapting older marketing mix models to modern digital environments, crucial for tackling challenges posed by privacy changes like iOS 14.5.
AI's Critical Role: AI is essential for addressing advanced measurement challenges and understanding the impact of ad spending on revenue across multiple channels, providing a more integrated view of marketing effectiveness.
Impact of Average Order Value (AOV): AOV plays a significant role in advertising attribution; platforms like TikTok and Pinterest exhibit halo effects, making it challenging to measure immediate attribution.
Multi-Platform Approach: Successful brand scaling involves diversifying media strategies beyond big players like Meta and Google, incorporating platforms like CTV, podcasts, and TikTok Shop.
Evolution of Attribution Models: Newer models utilizing machine learning are offering dynamic, daily insights, overcoming the limitations of traditional infrequent MMM and focusing on campaign-level details.
Beyond ROAS: Jordan West critiques the ROAS metric, highlighting that advanced tools can provide deeper insights into marketing effectiveness and are especially relevant for brands with substantial advertising budgets.
Improvements in TikTok Attribution: Direct features like TikTok Shop have started to provide better attribution capabilities, though challenges remain with high AOV items due to longer decision cycles.
Right Questions and Resource Utilization: It's essential for brands to ask the right questions and leverage available resources when deploying AI solutions to ensure sustainability and growth.
Calls to Action: Michael Churm encourages brands of various sizes to engage in conversations with analytics vendors to scale their marketing efforts effectively and notes the importance of proper vendor selection.
Today’s Guest:
Michael True, the co-founder and CEO of Prescient AI. With a tech background honed at major companies like Oracle, IBM (on the Watson team), and App Annie, Michael brings a wealth of experience to the table. He is an expert in marketing analytics, specifically leveraging artificial intelligence to solve complex measurement challenges without relying on cookies or pixels.
Recommended Apps/Tools:
Prescient AI: https://prescientai.com/
Triple Whale: https://www.triplewhale.com/
Growth Plan: www.upgrowthcommerce.com/grow
Million Dollar Offers: www.upgrowthcommerce.com/grow
In this episode's sponsor is Omnisend - is a comprehensive marketing automation platform designed to help eCommerce businesses enhance their customer engagement and boost sales. It offers tools for email marketing, SMS campaigns, and various forms of automation, allowing businesses to create targeted and personalized marketing strategies. With features like segmentation, A/B testing, and advanced analytics, Omnisend helps brands streamline their marketing efforts and achieve better results.
Learn more here: Omnisend
Get 5 Offers for 2 Products (10 in total) along with 10 highly engaging tried and true creatives, 30 captivating headlines, descriptions, and ad texts sent to you for only $99. Go to https://www.upgrowthcommerce.com/offer and order now - this offer is only available for a limited time.
We love our podcast community and listeners so much that we have decided to offer a free eCommerce Growth Plan for your brand! To learn more and how we can help, click here: upgrowthcommerce.com/grow
Join our community and connect with other eCommerce brand owners and marketers!
