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Speaker: Welcome to Inside
Marketing With Market Surge.
Your front row seat to the
boldest ideas and smartest
strategies in the marketing game.
Your host is Reed Hansen, chief
Growth Officer at Market Surge.
Reed Hansen, MarketSurge:
Hello, and welcome to Inside
Marketing with Market Surge.
Today on the show, we're unpacking one of
the biggest headaches in business today.
Why marketing data rarely
matches financial reality.
And to help us make sense of it, we've
got the perfect guest, Jeff Greenfield,
CEO, and co-founder of Protic.
Jeff's a three time entrepreneur with
more than 30 years of experience in
marketing, analytics, and strategy.
He's built companies that pioneered
multi-touch attribution, viewability
standards, and cookie list tracking.
Long before the rest
of the industry cut on.
Now he's leading Lytics, an AI driven
privacy first attribution platform
that tackles the pro problem every
CFO and CMO is facing right now.
That there is no single
source of truth in marketing.
Jeff is here to bridge that gap.
Help us understand and show us how
finance and marketing can really
start speaking the same language.
Thanks for joining us, Jeff.
Jeff Greenfield: It's a
pleasure to be here, Reid.
Thanks for having me.
Reed Hansen, MarketSurge: So Jeff, you've
been in marketing and analytics marketing
measurement, particularly for decades.
What drew you into this particular
problem around marketing Attribution?
Jeff Greenfield: Well, it was,
Reed Hansen, MarketSurge: i,
Jeff Greenfield: I, it's a problem
that I faced kind of head on myself.
So if I go back to the early two
thousands, a client I had had
brought me in and asked me to kind
of take over media buying for them.
This was a
Reed Hansen, MarketSurge: hmm.
Jeff Greenfield: traded weight loss
company, and right away the team
that I brought in identified some
major issues that was going on.
The biggest was this, what
we call over counting issue.
Reed Hansen, MarketSurge: Hmm.
Jeff Greenfield: you know, for every
sale that they had, there was five or
six different vendors or partners or
publishers who were claiming credit.
And that's, that's not uncommon.
But the problem that this
company faced is that all of the
deals that they had were on a.
A CPA basis.
So
Out a commission.
So for every new customer they were paying
out the equivalent of six commissions.
So
Reed Hansen, MarketSurge: oh.
Jeff Greenfield: big problem that
needed to be fixed kind of right away.
So what I did at the time is I was
working on some other technology products.
So I had a team, took one of my
engineers off of there and had them start
figuring out how to solve this problem.
And within a couple weeks we had a.
A rudimentary solution.
But you know, what ends up happening
is, is that once you solve one thing,
it's like a game of whack-a-mole.
Then my team came to me and
said, oh, well what about this?
What about that?
you know it, we had built out
this solution that solved.
Many of the problems that they had,
we were, you know, able to get it
down to just one, winning the sale
eventually, and, and then also figure
out, you know, what was really working
at kind of the top part of the funnel,
what was driving that awareness.
And I had no idea, this was like 2007,
2008, that other people had these issues.
But what we had actually built
out was one of the first.
Multi-touch attribution companies and
that's kind of what got me into it.
But, but you do bring up a good question
because as most business owners know,
you know, it's pretty fun sometimes to
come up with like an ad or a campaign.
It's kind of sexy, you know,
'cause you think you're like living
in like the mad men type world.
But we all know when it comes
down time to do the books.
We all hate numbers, numbers, numbers,
you know, even when things are good,
just figuring out the books is not fun.
Analytics is numbered and it is
definitely, on the surface, does not
seem very exciting or sexy, but I've
been in it now for so long and dealing
with the type of customers we deal with.
We deal with some of the largest
companies in the US and in the world.
We get to be on the inside track of
what they're planning, what they're
doing, and we can see what's actually
working and what's not working
and it's, that's kind of sexy.
especially when they come to
us and they ask us for advice.
That's really cool to have some of
the best marketers in the world say,
Hey, what do you think about this?
And what are you seeing
on your side of things?
So I, that's kind of what got me into it.
And, and I've kind of stayed
here because it's, it's fun.
It's, it's a lot of fun.
Reed Hansen, MarketSurge: Yeah.
Okay.
So you brought up a, a a point that
I think is really interesting and
maybe people not immersed in, in
data may not totally grasp, but, uh,
you know, multi-touch attribution.
You know, you've said that, um.
Or, you know, protic is kind of
built around the idea that marketing
has no single source of truth.
And, and, and, you know, and then also
the idea of multi-touch attribution.
Could you break those concepts
down for our audience that you
know, may, may not be totally
familiar with, with what those mean?
Jeff Greenfield: Yeah, and, and I think
the best way to do it is I'll, I'll
give an example of like a product, like
let's say read that you're a gardener.
You created this amazing news Garden hose.
It, it's,
Reed Hansen, MarketSurge: Hmm.
Jeff Greenfield: incredible.
It doesn't leak and your friends love it.
So you put up a Shopify page
you start running ads on meta.
So that would be Facebook and
Instagram with a really cool video
showing how well it works compared
to others, and has a cool name.
We'll call it the read hose.
Reed Hansen, MarketSurge: Okay.
Jeff Greenfield: you run ads on
Google, so when someone types in
the re hose, it'll come right up.
so what happens is someone's scrolling
through their Facebook feed and
they see this ad, they pause for a
second, but they don't click on it.
And then they just keep scrolling.
And then a week later they're on
Instagram and they're scrolling along.
They see the same video,
and now they watch it.
They watch the whole thing.
It's like 60 seconds long, and they're
like, this reed hose is pretty cool.
You know, when my hose, you know,
stops working and starts leaking,
I'm, I'm gonna get this reed hose.
But they don't do anything.
They just, they just
say that to themselves.
We've all done that.
then three weeks later.
They're out gardening and they
turn on the hose and the thing
leaks and they're like, oh my God.
Should have gotten that re hose.
And they take their phone out and
they type in Reed hose into Google.
They see it, they click
on your ad and they buy.
Now we know that it was that first ad
on Facebook that caught their attention.
was that ad that they engaged
with on Instagram that made them
make the decision to buy, and
then they bought through Google.
So there's this kind of multi-step, if
you will, process part of that kind of
multi-touch part that we talked about.
when you look in your Google Analytics
four to see the source of the sale, it
will tell you that the source was Google.
Reed Hansen, MarketSurge: Hmm.
Jeff Greenfield: And so multiply that.
Let's say your hose takes off and you
have a thousand sales in the month.
At the end of the month, you're
gonna see and you're gonna look
at it and you're gonna say, wow,
my investment in meta Facebook and
Instagram was completely wasted.
Google's driving all these sales,
I'm gonna cut my spend and I'm
gonna put it all into Google now.
Since it took a while for the person to
go from Facebook to Instagram to then
search, it was like maybe a month and
a half in that example that we gave you
will not see sales go down right away.
It'll take a while.
So let me kind of unpack all of that
story that you now have in your mind.
Because we, we talked about
kind of what attribution is.
Well, there's GA four attribution,
which would tell you spend all your
money on Google, but, and if you look
at Facebook, Facebook will tell you
that they're driving most of the sales.
But who do you believe?
Do you believe Facebook or Google?
Now you have two sources of truth,
two different views of thing, and
the problem is, is that Facebook
doesn't have all your sales.
It only has the ones that it
feels like it was responsible for.
Multi-touch attribution had the ability
early on to be able to go in and tell you
exactly what was going on, that Facebook
drove those sales, so did Instagram.
in order to do that, it had to get all
of this personal identifiable information
via pixels and tags and things like
that, which are no longer out there.
Those are no longer available.
Doesn't give up that information.
So with Protic, we do it by looking
at the engagement level on a daily
basis, but that is not at a user
level, but it's at a daily level.
So we're actually able to tell you
the same information we were able to
do with multi-touch attribution, but
we do it in a privacy safe manner.
But let's,
Reed Hansen, MarketSurge: Hmm.
Jeff Greenfield: let's just take
that picture where you're advertising
on Facebook, Instagram, and Google.
Okay, and let's expand it
and let's add in Criteo.
Let's add in Hulu,
Reed Hansen, MarketSurge: Hmm.
Jeff Greenfield: add in
some other connected tv.
So we've added in three other sources.
So now.
You have five different sources of
truth, and let's say you have an
agency that's buying some of this
stuff for you, they probably have an
opinion too, so that's six or seven.
of these numbers match what finance
has, and that's the big problem.
Reed Hansen, MarketSurge: Yeah.
Jeff Greenfield: solve it at Protic is
that we bring it all together to create a
single view of what's actually going on.
To give you this single source of
truth, that's what's missing for most
marketing organizations these days.
Reed Hansen, MarketSurge: so
you've raised a lot of questions
that marketers deal with.
Now is your, is your platform I, is it
ingesting the data and synthesizing this?
Or is this more of a service,
human based solution that you
know, you know that you're doing
this as a service, for instance?
Jeff Greenfield: Yeah,
great, great question Reed.
So it, it automatically does
ingest the data if the data.
Is available for some of our larger
clients that data's behind firewalls,
and we will deal with their, you know,
technology team in order to get it.
And then the platform does
automagically, if you will, take that
data, ingest it, and then do all of
the calculations to output the data.
We do have a human layer that
does a QA check still on top
of all the AI that's available.
We still believe in human qa.
There is a layer that we provide
in terms of service to help
with the understanding of it.
For a lot of larger organizations, this.
This moving towards a single source
of truth is a difficult task because
within organizations, measurement is the
whole basis for promotions, salaries,
size of teams, and so bringing in
new measurement is like changing your
religion and it can be a very delicate.
Process.
And so we help guide our
clients through that process.
For, for someone who is not large,
this is pretty straightforward.
It's like, oh my God, I
finally have the right answers.
You know, I'm the decision maker.
This is so simple.
But for organizations that are hundreds,
if not thousands or tens of thousands,
you would, you know, you could understand.
How the numbers are tied into almost
every part of the organization.
So you have to be very careful, even
though this data and our da our, our
output is, I like to say less wrong
than what they're looking at right now.
So you could say more correct,
but I like to say less wrong.
It, it still has to be one has to
move forward slowly because you could
actually, you know, cause a lot of
problems if you move too quickly.
Reed Hansen, MarketSurge: Yeah, no,
that, that makes a lot of sense.
So, So I, I'd be interested
in talking a little bit about
how AI is involved here now.
I know you, AI is a big part
of your platform and, and.
You know, for a marketer,
you just can't avoid ai.
It touches everything.
now how, how are you using AI to
you know, in like this probabilistic
marketing to replace kind of older
methods of, of tracking attribution?
How, how does that become
a part of the platform?
Jeff Greenfield: Yeah, no, great question.
And as a marketer, you shouldn't avoid ai.
AI is just newer, faster machines,
newer, faster computers, and it's,
it's, you know, it's the advancement of.
Many years of computing power.
So first off, we don't use any
of the current large language
models that are out there.
Everything we do is in-house.
So data does not actually
leave our system.
Reed Hansen, MarketSurge: Hm.
Jeff Greenfield: But, you know, to kind
of understand how marketing attribution
was done back in the day, there's
really two components that you take in.
You take in all of the click
data and you take in all the
impression data Impressions are.
The ads that are actually shown to people.
And historically that was done at the
user level, but that data's not available.
So when you start to think about what
is available, what's available is
daily level data, how many impressions
each day at a granular basis.
So we, we take all of that data.
That is publicly non
PII, non-user level data.
It comes into our platform and then
we go through a machine learning
process and we use AI internally.
It used to be, when we first built it
out, it was a four part process where
after each process a human would go in
and would do a series of checks and then
make a decision on what the next step is.
It, is it a through like.
T which, which one comes next?
So there was all these things that
humans had to be involved with.
We've now evolved that to where
we've trained internally AI
to take care of that for us.
Uh, we also use AI during
our validation process.
So after the models are complete,
what we wanna do is validate how
well is this model predicting.
And so what we do is we train the
model, just like you do, how you
train large language models, where you
train them with things, we train it.
With a month's worth of the client's
data where we give it all of the
marketing data, and let's say we're
looking at orders, we'll give it the
actual orders for those days, and then
after that month we say, okay, here's
the marketing data for a new day.
You have to guess.
What the order count is based
on what you were trained with.
Reed Hansen, MarketSurge: Hmm.
Jeff Greenfield: And then we look
at what is the predicted versus the
actual order count for each day.
And then from that we're able to determine
how valid is the model, how well is it
predicting and produce statist statistical
scores, like an R Square, which tells
us how well the model is predicting.
And then the error range, if you will,
of the model, which is called the mape.
What's important about all models is,
is it saying all models are wrong,
some are useful but the most important
component of the model is the data.
If the data is good, the model is great.
And when we have great data,
our models are predicting better
than 92% of the time with a bands
that are very, very, very small.
Uh, so as long as the data's good we
can predict incredibly well for clients.
Reed Hansen, MarketSurge:
That's, that's really great.
Now, you know, we've had some developments
you mentioned earlier, the, you know,
with, regulations in Europe and decisions
by large companies like Google and
Facebook to limit cookie tracking,
in the next three to five years.
Do you see.
Further changes versus, you know, for data
availability for this kind of tracking.
Do you foresee further changes
in one direction or the other?
And, and what, what do you
think are the best, best things
we can do to plan for that?
Jeff Greenfield: Yeah, I mean when,
when you start to look at how things
have moved in the last couple of
years, and it's even before COVID,
Reed Hansen, MarketSurge: Hmm.
Jeff Greenfield: you know, there is
this move towards a more private.
Web browsing experience, but consumers
have also changed how they kind of
circumvent the web, if you will.
It used to be that we would go from
webpage to webpage to read news
and things like that, and now most
people spend the majority of their
time within apps, if you will.
So Facebook, Instagram, Snapchat,
Amazon's an app, and most of the
shopping experiences as well.
Are less on individual websites and
more in what we call these marketplaces.
So Amazon, Walmart, target, CVS,
chewy, these are all these own
kind of separate ecosystems.
And you know, it used to be that
Chewy, all they did was sell you know.
Dog food.
That was it.
Dog treats, cat food, that type of thing.
But now they're also selling advertising.
Reed Hansen, MarketSurge: Hmm.
Jeff Greenfield: so when you start
to sell advertising, you realize
that your data is valuable and
you don't want it to leak out.
And so that's where the term came
from, what we call a walled garden.
So these are gardens, if you will,
where where people spend time.
But you, you, you can't get data out of
there unless you're a large advertiser.
But the problem is, is that.
I can take my own data that I own as
an advertiser and I can go to Amazon
and through what they call a clean
room, we can do a data swap, and then
I can target my customers in Amazon.
And then I say, Hey to Amazon, Hey,
I wanna do the same thing at Chewy.
Can I bring this data over there?
And they're like, oh, no, can't do that.
So then I have to duplicate
the same thing at Chewy.
So what's happened is we've seen this
proliferation of these, you could call
them all mini Internets, if you will.
Each one is its own kind of separate
environment, and that's the direction
that things will continue to evolve in.
We've also seen a change in terms of
like consumer behavior, in terms of TV
viewing, you know, a year and a half ago.
The TV networks like N-B-C-C-V-S, and
Fox, those where most people view things,
you know, for the last eight months in a
row in the us the number one TV network,
and we're talking on the big screen,
not on like a mobile device, is YouTube.
YouTube is the number
one TV network in the us
Reed Hansen, MarketSurge: Well.
Jeff Greenfield: Unbelievable.
So when we start to think about
changing behavior and changing habits,
things are moving very, very rapidly.
And also we're going to see the
availability and it's already
been announced of shopping via.
Chat, GPT and other large language models
where you can go in and say, you know,
I'm looking for the best air purifier.
And it comes up with one and,
you know, says, would you like
me to make this purchase for you?
Yes, I would love to.
And all that entire purchase will
be made within the chat GPT window.
You'll never even have
to go to the website.
So this is talk about a kind of
a massive shift, if you will.
So we're gonna see.
A lot of shifts in consumer behavior
and it's gonna impact from a.
Kind of from a marketing standpoint
of view, uh, in large brands,
because they're large, it takes
them a long time to catch up.
They're not nimble, they're not fast.
This is why startups and smaller
businesses have an advantage, because
their decision in terms of how
they do things, is they just have
to ask themselves, Hey, does this
seem like a good idea to do this?
You know, what's important
to understand is that.
Consumers right now when it comes to
purchasing products in the us, the
majority of searches happen on Amazon.
So if you're selling something,
you need to be on Amazon.
It used to be that those searches
happened in Google and then people
would click on an Amazon link and go to
Amazon, but now they go direct to Amazon.
But now for other types of searches, we've
seen that chat, GPT and some of the other.
AI platforms are starting to
take away more and more of
that search away from Google.
So now there's gonna be kind of
a new chore, if you will, for
smaller businesses, which is how
do I show up inside of chat GPT?
How do I ensure that I'm there?
And really what it comes down to is you
have to go back to what we did before.
You gotta have a website, you need to
make sure that your website is putting
out content, that it's up to date.
And so it's, we're in a back to the
future type mode because we need to
constantly give data for these engines
to take in, which is what we all had
to do in the early days with Google.
Reed Hansen, MarketSurge: Wow.
Well, Jeff, lots to, lots to digest
Jeff Greenfield: Yeah.
Reed Hansen, MarketSurge: You know,
I, I think this has been a tremendous
interview and I appreciate you, you
sharing so much with, with our audience.
If somebody would like to work
with you or lytics, where are the
best places that they can find you?
Jeff Greenfield: Well, they
can always go to protic.com.
Best way to get there
is to go to get Prova.
That's G-E-T-P-R-O-V a.com.
Prova means proof.
So it's like, Hey, you know, I
wanna get proof for what I'm doing.
When you go there, there's
a resources section.
We've got a bunch of different downloads.
There's even a free attribution
certification course for folks that
want to geek out and understand
kind of the past, the present.
And what we see is the future of
marketing measurement, and you can
always find me on LinkedIn as well.
I tend to put a lot of content
out there along the same lines of
what we talked about here today.
Reed Hansen, MarketSurge: Awesome.
Thank you so much, Jeff.
This was great.
Jeff Greenfield: Oh, it's
been a pleasure read.
Thanks for having me.
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