This idea was the one which shaped the online advertising market as we see it today, leading to the creation of complex reward structures and conversion funnels which are a must in our days. Generally speaking, the past approach focused only on the target area of the last click, whereas the new approach is basically an entire environment where everything is based on the ever-growing customer demand.
The last click (or impression-based models) only allowed for a basic understanding of the companies’ growth tracking and analysis. On the other hand, an attribution model is built from the ground to ensure a continuous development using the customers’ behavioural data. Thus, the ultimate point falls on the better allocation of advertisement funds, funds which should return a generous profit. For this to be achieved, the approach needs assessment and optimization at the micro level (e.g. where brand keywords are able to influence one another), as well as a quality macro channel approach (e.g. the influence on searched keywords).
Attribution modelling requires companies to shape their advertisement campaigns according to these factors.
A trend can already be observed with some advertisers in the industry, who try to better understand the relationship that exists between keywords and how they can influence the final customer conversion rate. And while this is the right kind of approach, it only represents a narrow field of reality for the managers. Customers should be seen from multiple points of view, and it must be acknowledged that cross-channel optimisation is necessary for an effective sales boost.
Attribution modelling is not able to solve all the problems of the digital marketing industry, but it is a concept that ultimately starts to address them. We should understand that the people response to advertising is never going to be perfect, and thus the billion data rows and different interpretation models available should be looked from the core of marketing agencies and departments.
The optimisation process of a cross-channel approach
By analysing and breaking down, step-by-step, the optimisation process of a cross-channel approach, we are able to create a holistic type of operation that shows clients that through attribution better results can be delivered through different stages, without the pre-requisite of throwing in well researched data.
To ensure a better use of the allocated resources, companies often start the process by asking themselves a few questions, such as “How will the data display affect my search?”, “How do I allocate the resources for the implied tasks?”, “How will the dynamic re-targeting process give me the right results”?, “What uplift in sales and traffic will I be able to observe within the first day of the campaign?”, etc.
The answers to these questions vary from advertiser to advertiser, based on their marketing strategy, product mixes, and established objectives. Thus, it is imperative to develop a well-thought approach even from the earliest of the testing stages. Moving on to an attributed approach will help your company to yield considerable gains, and it should be looked upon as an ongoing optimisation process, one which continues over an undefined period of time.
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