What is Attribution?
Attribution is the measurement of user events from the result of marketing activity. An event can be an app install, a level completion, in-app purchase, etc. In short, attribution essentially discovers what caused a user to convert. Those channels that work well should be focused upon in order to increase results.
With attribution, there are a few models and ways of measuring. Single-source is the most common model. It’s got a few other names, like last-click or last-touch, or first-click. Essentially, it gives the channel that was the last one (or the first one) to present an advertisement to a converting customer.
Then there is multi-touch. Multi-touch attribution recognises that there are many factors. A customer’s decision can be influenced by many things, an ad they clicked on last, or a video ad they saw but didn’t click on.
Finally, there is the linear attribution model, which some people call a participation certificate, where every part of the process gets equal credit.
What are the benefits of using attribution models?
Attribution is essential for success and focuses on measuring the impact of advertising, determining how to spend more efficiently. Almost everything can be measured. Marketers are placing more and more importance on analytics and attribution. According to Adroll’s state of performance marketing report, of the marketers spoken to, 79% believed attribution was critical or very important to marketing success.
How can we use attribution to improve campaign performance?
Keeping in mind the benefits it will bring to future marketing campaigns, how can we manipulate it to our advantage in order to improve campaign performance?
- Study Your Data
Review and analyse your data and go beyond those post-events. Use it to your advantage to create future campaign goals and reviewing the possible errors you may have made in the last one. If you can’t attribute your success and defeats to proper examples, you won’t be able to build on these insights which will in the long term lead to greater success and ROI in future campaigns.
- Measure Customer LTV.
The customer is always right and so is the value they hold. Reviewing a customer’s decisions and interactions leads to a much better understanding of their behaviour. It goes much further beyond the last few clicks leading to their conversion.
- Look at the entire Customer Journey
Attribution helps us find out which interactions lead to conversions and which don’t. Brands are able to find out what channels are doing well on mobile, why they are performing well and what steps can be taken to boost those channels that aren’t performing so well. Understanding mobile attribution gives brands important insights into where they should be spending their money.
In short, attribution is here to stay but the way we use it needs to change. Instead, we should focus on a more blended attribution, a mixture of all models. This way, we can view what really affects a customer’s decision when converting. This includes studying views and clicks of ads, before the conversion and that way, we can get a look at the full picture, leading to complete understanding of their decision and being able to impact upon this for future campaigns.
For more info on getting the best out of your own campaigns, contact us.