Measuring and analyzing the effectiveness of marketing campaigns is challenging for marketers owing to the complexities of omnichannel marketing strategies, the choice of the audience to deprecate third-party cookies, and limited data that make it hard to quantify the impact of marketing activities on business.
This becomes even more challenging with multiple marketers working on different campaigns on different channels in silos.
This is where unified marketing measurement, or UMM, saves your marketing efforts.
A unified marketing measurement approach involves employing multiple measurement methods to find out the true effectiveness of your marketing. To find the truth when there isn't a single source, a unified approach uses both deterministic and probabilistic testing methods together. It breaks silos leading to precise budgeting decisions, not possible with single methodologies like MTA, resulting in a 40% upliftment.
This article will discuss the best UMM tools in 2024 to help consolidate your marketing efforts and generate accurate measuring metrics for you.
Lifesight is a comprehensive, unified marketing measurement tool designed to provide marketers with insights into the effectiveness of their omnichannel marketing efforts. At its core, Lifesight employs a causal-based measurement solution, moving beyond mere correlation to unveil the real impact of your campaigns.
This AI-powered platform combines the precision of multi-touch attribution, the strategic foresight of marketing mix modeling, and the definitive insight of incrementality testing to provide holistic actionable marketing insights.
Pricing: Custom Pricing
Lifesight offers a fully integrated platform that requires no data scientists or analysts to navigate, ensuring that actionable insights are within easy reach for all marketers. Using advanced forecasting and analytics, Lifesight enables marketers to make informed decisions. It provides channel-level budget recommendations, optimization, and resource allocation insights to achieve ad efficiency.
Adtriba is a marketing analytics software that helps businesses optimize their marketing strategies. The two solutions, Adtriba Core and Adtriba Sphere, holistically evaluates marketing performance and advertising efforts across various channels.
Adtriba aims to deliver precise and detailed analysis of customer's journey using machine learning algorithms.
Pricing: Custom pricing
With easy-to-use features and in-depth reports, Adtriba is ideal for organizations looking to understand how ads drive sales and conversions in real-time. However, the ease of implementation presents a challenge, as incorporating it into marketing solutions can be difficult due to its heavy reliance on analytics.
Kantar, an analytics and brand solution, acquired Blackwood Seven, an AI-powered marketing ROI measurement and optimization company, creating an analytics platform combining both.
The platform enables the deployment of different marketing models simultaneously under its Hamilton AI platform to forecast and analyze the business impact of marketing activities.
Pricing: Custom Pricing
Kantar Blackwood Seven combines research and analytics with AI predictive modeling to forecast marketing performance accurately and prevent churn rates. It is ideal for businesses that need frequent budget evaluations, simplifying budgeting for both offline and online marketing effortlessly.
However, it's important to note that the initial configuration of Kantar Blackwood Seven requires technical expertise, which might be a barrier for some companies. Additionally, the platform does not offer continuous chat or call support for companies outside the US, which could impact the level of immediate assistance available to international clients.
Liftlab is a marketing effectiveness platform offering real-time insights to help businesses optimize marketing performance and drive revenue. It provides a comprehensive view of marketing profitability and combines media experimentation with economic modeling to predict optimal spending levels and maximize performance.
Pricing: Custom Pricing
Liftlab analyzes your marketing spending based on profit and loss from different activities. Optimize your budget allocation and drive revenue with instant access to campaign performance metrics.
Aryma Labs offers marketing measurement and attribution solutions to drive marketing efficiency. The tool uses MMM modeling, causal inference, and experimentation to optimize marketing performance and ROI.
Pricing: They offer three plans:
The customized marketing measurement solutions by Aryma Labs provide accurate and actionable insights to improve marketing ROI.
Cassandra is designed for non-technical teams to help them optimize their marketing strategies and maximize ROI. The tool uses an ML-based MMM model to simplify the complex media planning and budgeting process.
It helps you analyze wasteful campaigns in-depth, identify overspending channels, and run simulations to find the most effective media plan.
Pricing: They offer 4 plans:
Cassandra uses ML to expedite the MMM modeling process, reducing reliance on technical expertise. It enables the non-technical teams to uncover insights and make data-driven campaign decisions, boasting a clear and easy-to-use UI that appeals to users without a technical background.
The platform facilitates faster implementation of MMM projects and presents results with easy-to-interpret, visually appealing graphics. While its graphs are aesthetically pleasing, there is a noted need for more descriptive interpretations to aid users in understanding the data more intuitively.
Objective platform is a UMM solution provider that aims to enhance the impact and accountability of marketing efforts. It helps optimize channels and campaigns to increase marketing impact, improve team alignment, and quantify investment value.
Objective Platform streamlines and simplifies measuring marketing efforts to measure investment value using AI to automate data from 200+ sources.
Pricing: Custom Pricing
Objective Platform offers UMM models and goes beyond channel-specific metrics to view marketing performance comprehensively.
Marketers adopt the UMM approach to improve the effectiveness of marketing efforts across channels and optimize campaigns in real-time to optimize resource allocation and drive tangible business impact.
Lifesight offers cutting-edge capabilities for driving marketing success in the privacy-first era. It provides unified measurement and optimization to navigate the modern marketing landscape and achieve value for your marketing spending. By collating data from various channels and customer touchpoints, Lifesight gives you a holistic understanding of your marketing performance.
Book a demo today to learn more about Lifesight's unified marketing measurement.
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