Are You Ready for Marketing Attribution?
-
Upload
jeff-sauer -
Category
Marketing
-
view
444 -
download
3
Transcript of Are You Ready for Marketing Attribution?
Are you ready for Marketing Attribution?
@jeffalytics
Hi, I’m Jeff and I live out of a suitcase
I just got back from Estonia
@jeffalytics
It’s a very small country in Europe
@jeffalytics
The Alleged birthplace of Encino Man
@jeffalytics
Just how small is it?
HowsmallisEstonia?
@jeffalytics
This small!
ActuallyEstonia
I saw this sign in Estonia…
Who gets credit for my patronage?
Who gets credit?
Free Beer?
Who gets credit?
Topless Servers?
Who gets credit?
False Advertising?
So I went in and bought
this beer… it wasn’t free
@jeffalytics
Wedding in Oregon
@jeffalytics
That’s me
@jeffalytics
Beautiful venue for a wedding
@jeffalytics
Attribution question: Who gets credit for the conversion (sale)?
@jeffalytics
I asked that question to my friend
@jeffalytics
From the owner
Is the Product all that matters?
@jeffalytics
Their wine sells out every year
@jeffalytics
5 weddings booked for 4th of
July weekend (‘Merica)
@jeffalytics
Growing like crazy. Don’t care
about attribution.
@jeffalytics
This is how small businesses treat their marketing
@jeffalytics
To him, assigning attribution is bullshit
@jeffalytics
Attribution is
Bullshit
@jeffalytics
Or is it?
@jeffalytics
Let’s investigate
Four Phases of Attribution
1) No Conversion Tracking
@jeffalytics
Having no goals at all
@jeffalytics
No goals means no conversion reports!
@jeffalytics
Let’s not even go there
2) Analog Attribution
@jeffalytics
LastClickAttributionforConversion
Web Analytics uses a ‘last click’ model
@jeffalytics
AKA The Glengarry Model
@jeffalytics
Many companies follow this blindly
@jeffalytics
The problem? Device Fragmentation
@jeffalytics
Direct gets too much credit!
@jeffalytics
Especially when compared to other models
@jeffalytics
And yet this is the default in every single tool!
@jeffalytics
Even Google wants to kill this model
https://support.google.com/adwords/answer/7002713
@jeffalytics
Don’t put too many eggs in one basket!
3) Digital Attribution
@jeffalytics
51% 51% of companies over 100 employees are using digital attribution models in 2016. Source: eMarketerOct, 2015
@jeffalytics
FirstClickAttributionforConversion
If last click is so bad, what about ‘first click’?
@jeffalytics
The First Internet commenter of models
@jeffalytics
Not necessarily an achievement
@jeffalytics
LinearAttributionforConversion
Ok, make everything equal!
@jeffalytics
This is like the millennials of attribution
@jeffalytics
PositionBasedAttributionforConversion
Ok, then let’s compromise
@jeffalytics
The non-offensive approach
@jeffalytics
TimeDecayAttributionforConversion
The time-based approach
@jeffalytics
This is boring, but makes logical sense
@jeffalytics
CustomAttributionModel
You can even create a custom model
@jeffalytics
Test these models in Google Analytics
@jeffalytics
Start by understanding common visitor paths
@jeffalytics
Then compare multiple attribution models
@jeffalytics
Does the model make a difference?
@jeffalytics
Do you have a major tracking problem?
@jeffalytics
Is paid search accurately credited?
@jeffalytics
Campaign Tagging is Vital!
GA Campaign URL Builder: https://ga-dev-tools.appspot.com/campaign-url-builder/
@jeffalytics
Have fun with it!
@jeffalytics
Customize your channel definitions
@jeffalytics
Create new groupings in real time
@jeffalytics
Now we’re talking
@jeffalytics
Remember: there is no one perfect
model
@jeffalytics
Coming Soon: Google Attribution (Data Driven)
Google Attribution Announcement: http://bit.ly/GoogleAttribution2017
@jeffalytics
Warning: This represents a Google-
heavy world
@jeffalytics
But it is free!
@jeffalytics
In addition to Google…
@jeffalytics
Tune for Mobile Attribution
https://www.tune.com/
@jeffalytics
Bizible for B2B Attribution
https://www.bizible.com/
@jeffalytics
Bright Funnel for Sales Organizations
http://www.brightfunnel.com/
@jeffalytics
Convertro for Online and Offline Attribution
https://www.convertro.com/
4) Multi Channel Attribution
@jeffalytics
84% 84% of marketers list associating conversions with marketing as a top digital prioritySource: Econsultancy, September 14, 2016
@jeffalytics
10% 10% of companies have this capabilitySource: Econsultancy, September 14, 2016
@jeffalytics
In other words, attribution is
hard!
@jeffalytics
Complexity of attribution strategy
= complexity of marketing strategy
@jeffalytics
What do you have to gain
from attribution?
@jeffalytics
“Half the money I spend on advertising is wasted;
the trouble is I don't know which half.”- John Wanamaker (1838-1922)
@jeffalytics
10-50% more media
efficiency
@jeffalytics
Custom attribution = Mining for answers
@jeffalytics
Should you develop a custom
attribution program? Maybe.
@jeffalytics
How custom attribution works
(Case Study)
ObjectiveOptimize Marketing Spend to Grow Profit
Marketing StrategyStrategic multi-channel
media buys
IndustryRetail
Company size~$80MM in Revenue
@jeffalytics
2014Sales 2015Sales SalesChangeTotalRevenue $73,000,000 $86,600,000 $13,600,000MarketingDrivenSales $21,973,000 $32,388,400 $10,415,400
Sales Increased by $13MM, with $10MM coming from marketing attribution
Goal 3Increase ROI on all marketing programs
Model UsedCustom attribution
model
Goal 2Only spend in the most
efficient mediums
Goal 1Increase sales through
targeted media
@jeffalytics
AllMarketing Television Promotions Online Print Radio2014SalesContribution 30.1% 15.0% 7.0% 4.2% 0.9% 3.0% 2015SalesContribution 37.4% 17.9% 9.0% 6.8% 2.7% 1.0%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Acting on Attribution data to grow sales %
@jeffalytics
2014Marketing 2015MarketingMarketingBudget $11,500,000 $12,500,000MarketingRevenue $21,973,000 $32,388,400ROI 191% 259%
Slight budget increase, ROI soared!
@jeffalytics
Attribution lift can be your single
biggest ROI
@jeffalytics
My favorite attribution resource
Kevin Hillstrom’s MineThatData - http://blog.minethatdata.com/
Back to the Wedding
@jeffalytics
Caleb WineryTour Jeff'sReco Salesperson
Thesalespersongetslastinteractioncredit
Who gets credit for the sale?
Caleb WineryTour Jeff Salesperson
Jeffgetscreditinalastnon-directworld
Caleb WineryTour Jeff Salesperson
Calebgetscreditinafirstclickworld
Caleb WineryTour Jeff Salesperson
EveryonegetssomecreditwithaLinearmodel
@jeffalytics
If I built a custom model, it would be…
Caleb WineryTour Jeff Salesperson
Custommodeltoassigncredit
@jeffalytics
But really - it’s the bride, of course!
@jeffalytics
See… Attribution is bullshit.
But is it worth your time anyway?
@jeffalytics#adwexp
NOLess than $100k in
revenue / year
Is attribution worth your time?
@jeffalytics#adwexp
MAYBEMore than $100k in
revenue & online focus
NOLess than $100k in
revenue / year
Is attribution worth your time?
@jeffalytics#adwexp
YESMore than $10 million in revenue
each year & online / offline channels
MAYBEMore than $100k in
revenue & online focus
NOLess than $100k in
revenue / year
Is attribution worth your time?
@jeffalytics
Do you need attribution? Take the quiz:
jeffalytics.com/attribution
Thank You!
Jeff SauerAnalytics Teacher and Consultant Email: [email protected]
Links to resources & quiz: bit.ly/jeffmn17