Today we’re going to be talking about single-touch attribution. Hi and welcome back to Marketing Mondays. There are numerous methods of marketing attribution, but they can be split into two main buckets: single-touch attribution and multi-touch attribution. Thanks for stopping by and see you next Monday.Įver wondered what marketing attribution actually is? In this video, we cover some key components of marketing attribution and how to choose an attribution method that is right for your business. And I think it’s really important that we look at those types of models and implement those so that we can really create a performance marketing engine. And using attribution models that will ultimately provide marketers with the insight of really what is working, but also helping them drive the behaviors of what’s actually working for our customers, what are our customers doing with this information, and really what’s driving the pipeline. Therefore, it’s really important to understand the behaviors that you want to drive with your marketers and also how you are measuring them. If you are assigning a first-touch approach, then all of those top-of-funnel type activities are going to get all the credit and all the ROI, and so people are going to create more of those types of activities because that’s what you are measuring them on. When selecting an attribution type within your organization, it’s really important that you choose the model that’s going to drive the behavior for your marketing team. So these are the various attribution models that we have and can use -and there are many more and many different ways-but these are the most common. We work backwards and say, “Well, the most recent things get more credit and the things further back in time get less credit.” We can also do that in a partial way or we look at time decay. Then we have multi-touch options, things like linear attribution where everything gets equal weighting or we provide weightings in certain stages. Or maybe it was the opportunity, maybe it was the abandoned-cart email. So how did we get that lead into our e-commerce site? Well, that was by the display ad, so we give all the credit to the lead creation. In a single-touch model, we look at simple things like the first touch in a journey (that would be the Google search), or we look at the last touch (the abandoned-cart email), or we can look at stage-based single touch, so maybe the lead creation. If you have a look at some of these models, we can see that there are single-touch models and multi-channel models. The attribution challenge that we all have is which attribution model is best for you. So trying to work out how we assign the credit for a purchase to all of these digital marketing efforts is what attribution is all about-and there are many types of attribution. So how do we assign what should get the credit for the value of that purchase? Should we give it all to the abandoned cart email because if that didn’t happen, the purchase never would have occurred? Or do we assign it all to the display ad because that’s where the user clicked, and we never would have got to the abandoned cart unless the user clicked on that display ad? Or do we share credit equally to both of those areas?īut what about the Google search? The user may have never even seen the display ad if they didn’t search for that type of product, so maybe there was some branding already done or, potentially, the SEO team had a very good high ranking that really helped that user click on the display ad by affirming their understanding of your brand. The user clicks on that offer and makes a purchase. It looks like they have abandoned their cart over time though, and so at a certain point in time, the marketing organization sends an abandoned cart email. The user does a Google search for a particular product, they see a display ad that has been developed by the marketing campaigns team, they click on that display ad, they browse the products in the e-commerce store, and they add something to their cart. What we are trying to do is give the appropriate credit back to all those touches in our digital marketing world so that we can start to really understand what’s driving customers to purchase from us and how we can speed that process up from a digital marketing channels perspective.If you take a look at the sample journey here, this is more of an e-commerce type journey. There are multiple touches, and one touch will hopefully end up in a purchase for your organization. So what is digital attribution modeling? Well in marketing, we typically create journeys for customers and they have a start and an end. Today, we are going to talk about marketing attribution.
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