SAN FRANCISCO, Jan. 18, 2022 (GLOBE NEWSWIRE) — Upwave, the leading brand analytics platform for marketers, today announced the launch of its new platform feature Customer forecast, designed to provide brand marketers with the most comprehensive reporting metric to understand which media tactics drive future customer growth and identify long-term media efficiencies. The industry’s first metric, Customer Forecast is validated by actual sales data, without relying on short-term metrics like Multi-Touch Attribution or Sales Lift.
The Multi-Touch Attribution & Sales Lift Challenge
According to McKinsey & Company, marketers spend $560 billion a year on global advertising. However, standard cross-channel MROI approaches, such as marketing mix modeling (MMM) and multi-touch attribution modeling (MTA), to track the effectiveness of these spends are often unsatisfactory due to a bias of well-known short-termism backwards. – in search of methodologies.
Another McKinsey survey found that 45% of CFOs said the reason marketing proposals had been turned down or not fully funded in the past was that they didn’t demonstrate a clear line against to value.
A daily challenge marketers face is the inability to link top-of-funnel brand investments to bottom-of-funnel results. Multi-touch attribution and increased sales both have intrinsic value, however, their short-term bias prevents CMOs from demonstrating the MROI of brand investments and prevents media executives from identifying media efficiencies. long-term. This bias is even now leading to a “race to the bottom” that threatens television advertising, which is increasingly compared to lower-cost digital channels on short-term measures that television is not designed for.
“Ultimately, methodologies such as MTA underestimate the long-term revenue impact of TV and other brand campaigns. Upwave’s customer forecast measurement is truly the holy grail of measurement. marketing, proving your brand spend leads to real customers,” said Ken Archer, SVP. Product, Upwave.
Introducing the Upwave Customer Forecast for Brand Marketers
Upwave’s Customer Forecasting feature was developed to give marketers a more comprehensive understanding of paid brand media tactics that are driving future customer growth. Upwave’s customer forecasting metric helps fill that gap, proving that investing in brands is about investing in customers for long-term growth, not just short-term for increased sales.
Key benefits of Upwave’s Customer Forecast for brand marketers include:
1. Customer purchase. With Customer Forecast, brand marketers are now able to see how many new customers they have acquired or retained who have been exposed to their brand campaign. This benefit now ties top-of-funnel metrics to bottom-of-funnel results.
2. Minimized reflection time. Customer Forecast has the ability to show the actual duration between exposure(s) to a brand campaign and becoming a customer – helping them to better understand the length of their sales cycle and measure advertising results from brand in a way they traditionally couldn’t.
To learn more about Upwave’s customer forecast, click here.
Join Upwave for a Customer Forecast webinar on Wednesday, January 19: register here.
Upwave is a fast-growing marketing analytics company that provides ML-driven brand marketing measurement technology and insights to the world’s leading brands, agencies and platforms. The company is based in San Francisco and New York and backed by top Silicon Valley venture capitalists. Learn more about www.upwave.com.
|John McCartney||Elena Lopez|
|Jmac PR for Upwave||Jmac PR for Upwave|