Increasingly, savvy search marketers believe that the traditional approach of giving conversion credit to the last ad click is a flawed attribution method. Therefore, many of you have investigated or invested in technology that allows you to track beyond the last ad that is clicked so that you can perform attribution over the team of ads that lead to a conversion. With this new tracking in place, you then need to determine the correct attribution models, and it is at this point that if you are like most marketers, you get stuck. Why do we get stuck? We quickly realize that the argument could be made for many different attribution models. For example, consider the following purchase path: a user clicks on an ad for “running shoes,” then clicks on an ad for “Nike Shox,” followed by clicking on an ad for “Nike turbo 7” and makes a purchase. One way to attribute in this scenario would be to give equal credit to all three ads. Another could be to give 20% … [Read more...] about Building An Ad Attribution Model? You Need More Than Simple Math
Search marketers often benefit from the “last ad clicked” model because search is far down the purchase funnel. But limiting your analysis to just that is like operating with blinders on: it doesn’t exactly give you the full picture of what’s happening. Instead, B2B marketers should perform attribution modeling across their marketing channels. Today it is critical to look beyond the last click to find unexplored areas of opportunity. In fact, data from the various touch points in a sales cycle can be a veritable goldmine. Without tracking and analyzing multiple touch points, marketers can’t get a true ROI of their marketing dollars. As a result, they might not be fully optimizing their marketing initiatives. Findings from a recent Forrester/iProspect study demonstrate the importance of attribution modeling by quantifying the symbiotic relationship that exists between display and search. The study shows that 27 percent of internet users initially respond to … [Read more...] about 8 Core Elements For Attribution Modeling Beyond The Last Click
Cross channel attribution management provides the benefit of insights that can inform marketing strategies by revealing the true impact that every marketing tactic, campaign and channel has on your overall marketing success. It does this by scientifically calculating the impact that every marketing touchpoint experienced by your prospects has on achieving a specific marketing goal – such as conversions, revenue, return on advertising spend (ROAS), etc. But where the attribution process ends for most marketers is with the acquisition of a new customer and looking solely at media metrics – failing to extend the attribution exercise to include the longer term enterprise value or quality of that newly acquired customer. Suppose that after performing attribution, it was revealed that a given search engine actually produced 1,000 conversions at a given ROAS for a specific keyword for the initial transaction that it produced. Meanwhile, another search engine produced just 300 … [Read more...] about Understanding Attribution’s Contribution To Customer Quality
Visitors to a website may want to perform certain actions related to Entities (specific places or people or things) that are displayed to them on the Web. For example, at a page for a restaurant (an entity), a person viewing the site may want to create a reservation or get driving directions to the restaurant from their current location. Doing those things may require a person to take a number of steps, such as selecting the name of the restaurant and copying it, pasting that information into a search box, and submitting it as a search query, selecting the site from search results, determining if making a reservation is possible on the site, and then providing information necessary to make a reservation; getting driving directions may also require multiple steps. Using a touch screen device may potentially be even more difficult because the site would possibly then be limited to touch input. A patent granted to Google this week describes a way to easily identify an entity such as a … [Read more...] about Selecting Entities on Sites and Performing Tasks On Them Through Google
When measuring the effectiveness of discount codes, retailers often get it wrong. In this article, we’ll look at how data-driven attribution can help businesses better understand where discount codes produce the best ROI. Retailers often don’t consider discount codes in the same way they do traditional marketing spend. On the one hand this seems appropriate; the cost is a percentage of top-line revenue at the point of conversion rather than upfront speculative spend. But viewing them as nothing but a conversion lever can lead to a dangerous disconnect in understanding the true cost of customer acquisition and retention. In a multi-channel, multi-device world, it’s increasingly hard to acquire and keep customers cost-effectively. Discount codes are an easy and powerful short-term lever for growth that can be activated and ramped up quickly (through deeper discounting and broader availability etc.). But with the temptation their flexibility and impact affords, many … [Read more...] about Data-driven attribution: the cure for discount code abuse?