Yet again, Luigi Reggiani opened his presentation with an interesting fact. During the 45 minute walk, more than 49 million gigabytes of data will be create! When we look at the number of the decisions which will be made using this data, only 6 percent of the companies will interpret it and actually make a use out of it.
Attribution is about getting the best data. It’s making the good decisions when confronted will a lot of data. It’s a way for you to spot all the marketing activities which to not work well.
It is very important to track and measure all the data so that you could attribute the model. In the past we were only focused on the last click, we therefore forgot about all the other clicks and everything prior to that.
54 percent of clients still use last click to attribute value in the US. We can add 16 percent of clients who are unsure of what model they are supposed to use, and that is a lot.
When it comes to attribution, Luigi pointed out that we can have certain issues. If we don’t have the right data, it will be very hard for us to analyze it and get the good results. His advice – invest in good data.
Luigi also added that today we give 100 percent out to the last click. Depending on the last goal, we might strive towards linear model. If users don’t have a clue on where to start, linear one is the best. We also have two more models – time delayed model and position model. These are more advanced models, which are much more suitable for more developed businesses.
You can do all of this using Google Analytics. Since page views are good for measuring engagement on your website, you can use different models for your product or service.
Luigi stated that challenge of using custom modeling is that you end up with a lot of data which is hard to interpret. Therefore, you have to invest in the good data and focus on internals. If you don’t have the right people which will analyse the numbers, you’re not in a good position.
You should also know following before you start with attribution:
- Start focusing on the channels which will bring you the biggest volume of conversions
- Take the shortest path
- Look across different goals and organic campaign or channel base on its contributions
He closed his presentation by saying that attribution is not magic and it will take some time for the results to appear. It is important to document everything and start making a base. You should hire only the good people because they are the ones who will guide you and help you make your product even better.