With that type of data foundation in place, businesses can develop an experimentation capability to test which combination and sequencing of interactions – and at which customer touchpoints – can generate the most value. This means moving from a single use case mentality to an omni-channel one. For example, it’s about knowing how to sequence promotions with brand interactions and determining exactly the right time and assembly of content and creative (i.e., with Dynamic Creative Optimization) to show customers across paid, owned and earned channels. It’s also about knowing whether to engage people who are using a competitive product or target existing customers who show a high propensity to buy new products and services that will increase overall customer lifetime value (CLTV).
Quantifying the value of all these different touchpoints and actions has historically been very difficult to do. The human brain—and even traditional analytics models—can't analyze hundreds of different touchpoints happening across millions of people. There are simply too many interconnected data points and potential combinations. That’s where capabilities like Accenture’s proprietary Attribution Platform come in. The platform’s sophisticated machine learning (ML) models consider all possible touchpoints and interventions and run various statistical algorithms to identify which ones can generate the greatest incremental value. This modeling can be applied to net new users, prospects, cross-selling or upselling of existing customers—or any combination thereof that drives growth. Additionally, because the Attribution Platform uses ML to continuously learn and train performance measurement, it doesn’t rely on third-party cookies like many other performance measurement and multi-touch attribution (MTA) tooling.
Companies can take these insights and plug them back into the experimentation engine to figure out where there’s even more value. For example, what happens if we tweak the messaging or presentation of a product, present a different type of offer, or change the order of interventions in a customer’s or prospect’s path? What if we tried a combination of these tactics with multiple execution partners and technologies?