Today, the retail shopping experience is undergoing an irreversible technological transformation. Now that consumers are making use of various devices such as laptops, tablets, and smartphones to research products, compare products, and make purchase decisions, there is no better time to get involved in the digital omni-channel age which they inhabit. In a bid to generate leads, create customer acquisitions, find sales, garner signups, and increase downloads, many startups and companies are investing heavily in media advertising such as email, SEO, social ads, display, AdWords, etc.
Interestingly, campaigns are known to offer a greater part of quantifying the return on marketing which tends to offer the most effective outcomes. Apart from helping marketers and advertisers alike to plan reasonably and accurately project future growth, this is helping to inform them on where they should focus their resources to acquire new customers. It is at this juncture, that attribution modeling coupled with some big data analytics tools becomes very helpful. Basically, it deals with the process of assigning credit (value) to user touchpoints that have offered significant contributions yielding to a final purchase or that resulted in sa conversion.
When it comes to positioning an entire marketing organization with a common goal of generating revenue, Attribution is now the way to go particularly now that more and companies are adoption advancing marketing technologies and consumers are not relenting on their own part to explore new channels of interaction. First and foremost, you must ensure that your collected data is well integrated with your technology stack and kept that way while you tailor your approach to the needs of your business. Your main focus should be aimed at providing the best opportunities for lead conversion while the jury is yet to decide on the best marketing attribution models for a marketing business.
As a matter of fact, you can only establish a successful attribution modeling when you’ve got a better understanding of how your customers interact with your ads and the various marketing channels. This will help to improve optimization and also help you understand how much credit can be assigned to each click for the conversions of your website. For those looking to prepare for successful attribution modeling, here are some helpful tips to consider.
Understand customer journeys and learn how to assign attribution at each step
Whether across channels or devices, it can be surprising to see how complex an organization’s customer journey can be. It is best to consider using tools that are capable of analyzing your conversion funnel particularly if you are investing in paid advertising. Although a learning curve can be involved in the entire process, it is important to understand how effective attribution tools can be in identifying those ad campaigns and marketing channels that can actually influence a person’s buying decision. Most importantly, there is the need to have a good grasp and understanding of those marketing channels that are assisting with conversions and those that aren’t working.
Now that consumers are making use of their mobile devices to research virtually all they want to know, do or buy online, obviously, there is a shift in shopping behaviors that cannot be overlooked especially when running paid ads. By default, Google AdWords show marketers the Last-Click Attribution option which assigns all the credit for a conversion or sale to the last touchpoint without considering other steps that have contributed to the final decision taken by the consumer. To effectively organize a successful attribution modeling, there is the need to employ a suitable model for your business needs. This cannot be achieved except you fully understand your consumer journeys.
Choose the right attribution that works best for you
When organizing paid advertising campaigns, it is important to understand the different types of attribution models available for business owners and how they can be applied to achieve meaningful results. Basically, you will want to choose an attribution model that best suits your marketing efforts and business goals.
It isn’t a bad idea to consider employing a data-driven attribution (DDA) model. However, this will on be effective when you’ve got sufficient data for conversions. This approach can also help to take the guesswork out of choosing a model particularly for beginners who can get easily confused about using analytics tools.
If you are looking to get the clearest possible picture of conversion success in your account, you should consider using Google Analytics Premium services such as Attribution 360, Analytics 360, or DoubleClick. The use of data-driven attribution can be determined by the amount of data you’ve got. It all depends on your monthly ad spend.
In a bid to help obtain the most with conversions, these services employ sophisticated algorithms to analyze both converting and non-converting paths in your account to figure out which touchpoints are working. There are certain elements that will be factored in by Google’s algorithm including the creative assets used in each conversion path, the order of exposure, and the number of ad interactions.
Alternatively, you can consider employing a rules-based model if your account lacks adequate traffic to use for the data-driven attribution. You can effectively combine all of your reported conversion from your Adwords manager account by making use of Google’s cross-account conversion tracking. You stand to achieve better marketing insights and improvements when you can analyze more data.
Before selecting a model that best aligns with your business, you will want to define the goals and objectives on your Adwords campaign. Depending on your needs, you may want to choose a model that is more growth-oriented or one that focuses on maximizing efficiency. As a marketer, you are looking to understand how attribution can enhance the performance of your ads and keywords. It’s all about trying out different models.
When evaluating your keyword campaigns with a new model, you may discover a dramatic difference in performance from what was typically obtained under pre-existing last-click models. It is also good to re-examine your established performance goals for your AdWords account when evaluating and updating the model you are trying. Some businesses have come to observe better performance with a shift to a more aggressive model.
Consider modifying your ads and landing pages
One of the best ways to start a more mutually beneficial conversion is by making changes to your landing pages and ads. This can only be achieved once you’ve understood the search intent of a keyword in the user journey of your website. A more educational or “less salesy” page can be very beneficial to a set of keywords that tend to be the early stage of the user’s click path or the marketing funnel. Instead of the typical late stage “buy now” transactional page, try viewing these landing pages as inspirational landing pages.
Rather than complete conversions, you can target keywords to assist but you must remember to take the insight into account when organizing your ads and landing pages. This will help to get your brand established as a helpful reliable resource for conversion. This will surely help to align your business with your customers’ place in the click path.
Align your new attribution model with your top funnel keywords
Though it may not seem like much has changed once you start playing around and implementing new attribution models, it doesn’t mean that you are not getting things right. However, you make things work better by taking a second look at the influence keyword queries or early funnel that must have been deleted or cut from your AdWords account. Based on your new attribution model, you may identify those keywords that provide value that may not have been properly identified by the “last-click attribution.”
Feel free to retest those awareness stage keywords in a way that will not only get people to your site but also make them make a purchase. There is a better chance to be successful using new keywords and changing the way you look at your customer journey across a range of marketing channels. Under attribution models, changes made to keywords can help to define and measure the success of your marketing efforts in a different way.
Don’t be scared to try more than one model
As measurement gets better, do well to advance your approach to attribution. These days there is much work to do across several marketing channels. Marketing professionals would like to know what’s working. This is even more of an issue for those marketers and advertisers working in large companies or startups. When it comes to attributing digital marketing, some marketers often find it difficult to effectively convince upper management about offline sales.
There is no need to have a single attribution model to rule all the different functions as they all perform different tasks. Just so you know, mid-funnel marketing requires an attribution function that is different from what demand generation and financial reporting require. Most essentially, you should try as much as possible to keep an open mind to adapt AdWords attribution tools as a means of evolving and changing advertisement and enhancing omni-channel search marketing.