Attribution in digital marketing
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Attribution in digital marketing. What is it? Why is it important? What should you know about it?
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Attribution in digital marketing
- 3. Wanamaker’s dilemma “Half the money I spend on advertising is wasted. The trouble is I don’t know which half.” - John Wanamaker (1838-1922)
- 4. @mikkopiippo 10 years ago digital marketers believed they had solved the dilemma.
- 5. @mikkopiippo After all, we were using Google Analytics.
- 6. @mikkopiippo We were wrong. Our attribution model was (and is) broken.
- 7. @mikkopiippo We attributed every sale to the last touchpoint (campaign or media).
- 10. @mikkopiippo Even the very best players need a team. Someone must pass the ball.
- 11. @mikkopiippo Using a broken model leads to bad decisions.
- 12. @mikkopiippo Because of this, we need attribution models.
- 13. @mikkopiippo Social media Google Google Bing Goal = Sale Linear model: 25 % of the credit goes to each touchpoint.
- 14. @mikkopiippo Social media Google Google Bing Goal = Sale The best standard model: Time decay model.
- 15. @mikkopiippo Social media Google Google Bing Goal = Sale In time decay models, less credit is given to a touchpoint as time goes by.
- 16. @mikkopiippo Only two parameters to decide: the half-life (period of decay) & tracking window.
- 17. @mikkopiippo The they must be based on customer behavior.
- 18. @mikkopiippo If 80 % of customers converted in 7 days, I use a 7 day half- life.
- 19. @mikkopiippo In ecommerce, 7 days is usually more than enough. Sometimes 2 days is all you need.
- 21. @mikkopiippo Attribution model with only digital marketing channels and assumption of a single device per user. Attribution model with only digital marketing channels and assumption of multiple devices per user. Attribution model with digital, nondigital and face-to-face marketing channels and assumption of multiple devices per user. Increasing complexity of attribution
- 22. @mikkopiippo “There is nothing you'll attempt that will be more complex and challenging.” Avinash Kaushik, Google
- 23. @mikkopiippo Start from the simplest case: one user, one screen, many touchpoints.
- 25. @mikkopiippo 2. Time decay models are the most useful standard models.
- 26. @mikkopiippo 3. All models are wrong but some are useful. Georg E.P. Box (1919-2013)