Measuring The ROI Of Marketing: A/B Tests Vs. Market-Mix Models Vs. Multi-Touch Attribution
A/B tests give you lots of tactical information, but not about the bigger strategic questions – how much to spend, on which channels, toward what kind of brand strategy? A/B tests tend to be so tactical that marketers who rely on them exclusively often fail to develop a coherent view of their customers’ motivations and needs.
Even if marketers make judicious use in-market tests and A/B comparisons, they are unlikely to come to a satisfactory answer to Wanamaker’s question, especially in today’s complex market environment, and even more especially if they are not direct marketers.
To come to those answers, they are likely to turn to one or both of the other two dominant approaches to marketing measurement: Market-Mix Models and Multi-Touch Attribution.