New Loblaw Advance tool maps the shopper journey
Recognizing many shoppers are exposed to a mix of online and offline advertising before a purchase, the retail media arm of Loblaw launched a multi-touch attribution solution Wednesday designed to connect the dots along the path to purchase.
The solution measures the value of online and in-store holistically, Jamie Armstrong, GM, media intelligence, Loblaw Advance, told the Path to Purchase Institute.
While traditional attribution models — or last-touch attribution — only assign credit to the final advertisement before a conversion, multi-touch attribution (MTA) logs advertising interactions across different channels, platforms and media types. MTA measures the value of each contribution toward a consumer's path to purchase.
MTA methods vary. A time-decay MTA model, for example, assigns most of the credit for conversion to interactions closer to the conversion. A U-shaped MTA model gives most credit to the first and last touchpoint.
Loblaw Advance plans to iterate and improve its MTA model over time, Armstrong said, but it currently employs a linear MTA approach. He explained the method provides a holistic view of how various media ad products contribute to a conversion for a given campaign.
Available media types currently include advertising purchased through Loblaw's media buying platform across search, native, display, video, social, CTV and in-store media.
Armstrong said in a media release that unlocking multi-touch attribution marks a significant milestone on the company's roadmap and provides its partners with improved optimization capabilities and a more complete picture of their campaign.
"MTA delivers crucial insights into full-funnel marketing performance, allowing advertisers to strategically determine when and where to use our various marketing tactics," he said. "By delivering a detailed view of the customer journey, we're equipping brands with the tools to make impactful decisions that elevate campaign success."
