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LVIMA DPD 2015 - Quantcast
- 1. 1 | Copyright 2015Quantcast | Confidential| Copyright 2015 Quantcast | Confidential Why it’s Time to Rethink the Funnel: A New Perspective on Attribution Brooke Lydon Bengier July 16, 2015
- 2. 2 | Copyright 2015Quantcast | Confidential What is Attribution? A rule-based or statistical method for assigning conversions credit to media partners A tool to optimize allocation of marketing budget across channels/campaigns The search for causation A very difficult problem
- 3. 3 | Copyright 2015Quantcast | Confidential Current attribution models overview Simple models Complex models Last Touch First Touch First and Last Linear Time Decay Position Based Custom or Rule-Based Statistical Model
- 4. 4 | Copyright 2015Quantcast | Confidential Attribution Vendors (Google) (Neustar) (eBay Enterprise) (AOL) (ex DC Storm)
- 5. 5 | Copyright 2015Quantcast | Confidential Attribution models are still a work in progress Missing touch points Rewarding correlation instead of causation Not differentiating prospecting and retargeting
- 6. 6 | Copyright 2015Quantcast | Confidential The consumer’s path to conversion Upper Funnel Prospecting Lower Funnel Retargeting
- 7. 7 | Copyright 2015Quantcast | Confidential Prospecting brings qualified and incremental leads to your site Retargeting pushes site visitors down to the conversion event Incorporating the “first site visit” is crucial Retargeting Prospecting
- 8. 8 | Copyright 2015Quantcast | Confidential The “first site visit” signals the beginning of retargeting Retargeting Prospecting Split the Funnel
- 9. 9 | Copyright 2015Quantcast | Confidential Last touch attribution is outdated All upper funnel activity is missed Multiple partners on the plan “fight” to get last touch Retargeting Prospecting
- 10. 10 | Copyright 2015Quantcast | Confidential Strike the right balance for splitting credit, not just budget. Split Credit for each Conversion1 You Decide How to Divide Credit2 Upper Funnel Credit Lower Funnel Credit Prospecting Phase Retargeting Phase Align your incentives:
- 11. 11 | Copyright 2015Quantcast | Confidential Example: Ad Server View C Last Touch Partner A Partner B Partner C 7 12 13 LAST TOUCH Ad impressionsPartners
- 12. 12 | Copyright 2015Quantcast | Confidential Example with First Visit C Last Touch Partner A Partner B Partner C 7 12 13 LAST TOUCH Ad impressionsPartners Prospecting Retargeting V V
- 13. 13 | Copyright 2015Quantcast | Confidential Standard Attributions with First Visit CV Last Touch Linear Time Decay U-Shaped Prospecting Retargeting V V Algorithmic
- 14. 14 | Copyright 2015Quantcast | Confidential Split Funnel Attribution Prospecting Retargeting CVV V Last Touch Split Funnel Attribution Last Touch Before Visit
- 15. 15 | Copyright 2015Quantcast | Confidential Split Funnel Attribution Prospecting Retargeting CVV V Last Touch Split Funnel Attribution Last Touch Before Visit First Touch
- 16. 16 | Copyright 2015Quantcast | Confidential 16| Copyright 2014 Quantcast | Confidential Split funnel works across all channels and models Time Decay Position Based Linear Statistical or regression Bottom Funnel Split Funnel
- 17. 17 | Copyright 2015Quantcast | Confidential Key Takeaways Split funnel attribution makes this all possible 1. Know your funnel metrics - what is actually happening 2. Understand your funnel dynamics – what you want to happen 3. Set the right incentives to maximize your desired results – influence the outcome
- 18. 18 | Copyright 2015Quantcast | Confidential| Copyright 2015 Quantcast | Confidential Thank you. 18
Editor's Notes
- #3 Let’s start by defining attribution. Attribution is a: Method for assigning conversion credit to media partners A tool to optimize marketing budgets A way to validate that your digital campaigns drove conversions …And also a very difficult problem.
- #4 There are a lot of different attribution models out there. Some are fairly simple, like Last Touch which gives credit to the last ad that was shown before a conversion event Or Time Decay which weights each impression progressively more And then there are complex models based on complex rule sets and statistical models.
- #5 There are also a lot of attribution vendor options out there, each with their own varying methodologies.
- #6 But attribution models are still a work in progress because they are: Missing touch points Rewarding correlation instead of causation And not differentiating prospecting & retargeting
- #7 So when we look at a consumer’s path to conversion as they move down the funnel from awareness, to consideration, to the eventual measured conversion event, we are really looking at two fundamentally different online targeting tactics: Prospecting, which is upper funnel, and Retargeting, which is low funnel.
- #8 Prospecting deals with potentially the entire addressable online population and requires its own unique data set to determine if a potential consumer will be receptive to your ad. Retargeting, on the other hand, starts with a significantly smaller pool of potential candidates who have already visited your site, ultimately driving to a conversion event.
- #9 So if these two phases are so different, why do we measure them in the same way? The beauty of online measurement, is that there is a natural delineation point for separation – and it’s called the first site visit. At Quantcast, we believe the first site visit is unique because: It is the first time a consumer interacts with the brand website And, it touches every converting consumer on their path to conversion. This is why it is the perfect point of delineation between prospecting and retargeting. It’s simple and it’s clean. And because it is the precise start of the lower funnel retargeting phase it allows you to definitively separate the data and split the funnel in two.
- #10 Taking it a step back, the most widely used model today is still the basic last touch model. The harsh reality is that last touch is outdated and very easily gamed. All upper funnel activity is missed and partners on the plan “fight” to get last touch. This ultimately creates the wrong incentive and a lose, lose, lose situation for all parties involved. The consumer loses because they are over saturated with retargeting ads to the point of annoyance. (We have all likely experienced a pair of shoes or other product following us around the internet at some point) The marketer loses because their budgets are over allocated to those most likely to convert anyway. The ad targeting vendors lose because they are forced to optimize to an inferior attribution game and significantly dulls their targeting toolset and potential. By only rewarding the last ad it incentivizes everyone to focus on gaming rather than maximizing conversions as a team.
- #11 One of the most beneficial aspects of being able to distinguish between who contributed to a conversion from both the prospecting and retargeting phases is that now you’ve created a partnership between the two efforts. Each phase is rooting for the other to do their job. The prospector brings a visitor to the site for the first time and if they don’t convert on that first visit they actively root for the retargeting partners to bring that lead across the finish line so that they can reap the rewards as well. Same goes for the retargeters. Now they are yelling up at the prospectors saying “ bring me more qualified leads”. You now have a holistic partnership where each leg of the race is rooting for the other. This is how you properly balance your funnel and create an inclusive partnership between the two distinct marketing tactics. By leveraging a transparent attribution system, you are incentivizing your targeting partners to differentiate between prospecting and retargeting, thereby ensuring that you are driving Net New users.
- #12 So let’s look at this practically. This is an example of an ad server view of the customer journey. There are several partners on the plan, and Partner C gets credit through a Last Touch Attribution model.
- #13 Now let’s look at that same customer journey with Split Funnel. In this new system we can see that partners A and B are full funnel and Partner C is a retargeting partner. Ultimately they all had an impact on driving that conversion event but Partner A in particular drove a Net New user, which then Partner C pushed to a conversion event. This more holistic view allows you to see the value of each partner.
- #14 Looking at this customer journey using some of the attribution methodologies mentioned earlier, Partner A, who drove a Net New user, may be seen as not an effective part of the marketing mix. But I think we can all agree that it’s crucial to keep driving NEW users to the website to ensure that your retargeting pool isn’t shrinking and you’re driving incremental conversions.
- #15 There are many ways to look at split funnel. You can just weight Last Touch Before Visit
- #16 OR you can also include First Touch as part of that model so you are valuing specific touchpoints in that customer journey.
- #17 The split funnel approach can also be folded into other attribution methodologies.
- #18 So if you take anything away from today, I hope it’s… One, Know your funnel metrics – leverage the first site visit and know what is actually happening on your campaign for each leg of the race Two, Use those metrics to understand your ideal funnel dynamics – This is what you want to happen in an ideal scenario And three, Leverage the open transparency of split funnel to set the right incentives through measurement and credit allocation to maximize your desired results.