Herdify vs... Attribution modelling
We all know that attribution in the marketing world is an ongoing nightmare, as consumers become more privacy-conscious and channels move to mask online behaviours.
The “big three” (Google, Meta and Amazon) collectively account for 74% of global digital advertising spend. The issue is that these platforms take a “walled garden” approach to data sharing, inevitably giving advertisers a somewhat skewed view of reporting metrics.
Thirdly, customer journeys are becoming increasingly complex, and therefore more difficult to track effectively from start to finish. These journeys take place across a range of devices and cross from offline to online, and back again. As a marketer, attributing value to a single touchpoint is almost impossible.
There are many models and digital attribution programmes that seek to address all of these issues, but the fact is that 92% of influence happens offline in our real-world communities – in the streets, towns and cities where we live. Until now, there’s been no way of tracking sales that have been influenced by these communities. That’s where Herdify comes in.
Digital ads often fuel offline behaviour, providing nudges and reminding people of recommendations that have occurred through communities. In community areas, we see up to 99% of sales being missed by digital attribution.
Take this scenario – Anna purchases a product, based on a recommendation from a friend. She didn’t see an ad from the brand, but her friend did, and it reminded her to tell Anna all about it.
Herdify’s insights are able to demonstrate sales driven by both online and offline activity, proving the value of digital ads that might otherwise be missed.
| Attribution modelling | Herdify | |
|---|---|---|
| Brand-specific insights | Yes | Yes |
| Analysis of behavioural influence | No | Yes |
| Offline attribution* | No | Yes |
* By “offline attribution, we don’t enable matching sales to offline activity, but we do help marketers to understand how offline activity and marketing spend drives value across all channels. In this way, Herdify complements Media Mix Models (MMM).
”We found that it is 16 times cheaper to acquire customers in Herdify areas. When you see the numbers like this, it's a no brainer! We’re also excited to see how we could use the Herdify insights in other areas of our marketing strategy.”
~ PHILIPPA DOYLE, CO-FOUNDER, THE BSHIRT
Discover how Herdify’s real-world community detection technology compares to tools like Sprout Social, Falcon.io, Hootsuite, Meltwater and Buffer -->
While demographic data sets such as Experian and Tableau can help marketers produce segmented campaigns, they don’t take into account the huge influence of real-world communities on buying behaviour -->
