This Search Engine Strategies session focused on attribution marketing and was the most debated topic of the day. Determining how much credit to give to which click and how much to weigh each click varied from an approach, mechanics and analytics perspective.
So, what campaign source should get credit for the online sale? Or better said, how can attribution modeling maximize your return on your marketing investment? Everyone agreed that there’s no silver bullet.
So which click gets credit: First, last, multi click? And how do you remove the waste? Most analytics platforms are setup for “last” by default, but that can be flawed and misleading.
Here’s a process to deal with attribution marketing problem:
1) Track last click and pervasive lifetime value of traffic
2) There are 3rdparty solutions like Discover or Clearsale that can help
3) Implement a dashboard system. Consider splitting revenue and giving credit to influence programs
It’s important to determine a reallocation method so that you can distribute the ROI across multiple channels. ROI crediting should be multi-click and multi-channel. You may find that some channels assist more than you might think, like SEO. And the amount of data required to analyze is significant. In one case, a website collects over 1GB of data every day.
Of course, as you add offline channels it becomes more challenging to determine which media influenced the conversion and by how much. The Microsoft panelist thought search is overrated based on conversion credit using Atlas for their business, but they haven’t always been first to the punch…
The goal is to earn the most profit based COGS by source through CRM or POS. It takes a high mathematical competency to effectively model. The bottom-line is that most organizations are still struggling with how to best accomplish this. At the end of the day, it’s about generating a greater return on ad spend.
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