Attribution Management: Common Myths & Misconceptions

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The latest webinar in the Attribution Management Forum series is now available. Attribution Management: Common Myths & Misconceptions provides an overview of the 12 most commonly held beliefs about the concept of attribution management. Other topics discussed in the webinar include: * How to analyze your current attribution management status (or lack of it); * Are there any good tools available? * Which ads and sources should get credit? * Is path analysis a waste of time? * Will attribution pull dollars away from search? * And much more

Text of Attribution Management: Common Myths & Misconceptions

  • 1. Attribution Management Forum 7Myths and Misconceptions
    Presented by:
    Adam Goldberg
    Co-Founder and Chief Innovation Officer
    ClearSaleing Inc.
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2. 1) I dont have an attribution problem
3. Do I have an attribution problem?
Multiple ad sources
Big advertising budgets
Sales cycles
Visits/conversion
Self-fulfilling prophecy
4. 2) Last click is the chosen one
Hence,
Last Click
5. The birth of last click
Came from Web Analytics
Trying to solve what customers do on site
Not the path they took to get there
Only last click was exposed
Happenstance
6. 3) No good methods for assigning credit
7. Perfect or bust
The perfect is the enemy of the good
-Volaire-
8. Many methods better than last click
Not easy
Not 100% accurate
Whats the alternative?
Simple models are very effective
Even with brand exclusions
Last Click
Even
Exclusions
Rules Based
Algorithmic
9. 4) There are no good tools
10. Forrester Wave on Interactive Attribution
11. Downloads
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Forrester Wave on Interactive Attribution
www.ClearSaleing.com
Attribution Management Buyers Guide
www.clearsaleing.com/product/accurate-attribution-management/
12. 5) Attribution can be done with web analytics
13. Graphic design can be done in Word
Might see path of clicks
What about display view-throughs?
Email?
SEO?
Affiliates?
Offline conversions?
How do you value each step in the path
Is it actionable?
Time
Bid Management
14. 6) Attribution can be done in a silo
15. I have swampland in Florida to sell you
Hottest topic in online marketing
Checking the box on marketing collateral
Ignores everything but search
Better than last click
16. 7) Attribution is buying the right mix of media
17. One side of the attribution coin
Partially true
Project vs. Operational attribution
AKA Media Mix Modeling
Very important
Everyone should be doing this
Not validating what has been done
18. 8) Pulls dollars away from search
19. Pulls dollars from search to search
Not true
Clients search budgets are increasing
Reduces value of brand terms
Increases value of general terms
Values introducer and influencers
i.e. Top of the funnel
20. 9) Path Analysis is a waste of time
21. Interesting vs. Actionable
Agree if it takes you hours upon hours to assemble paths
Pull in spend data
Pull in each step
Match conversion
Compile path reports
Brand as navigation
Affiliates as closers
Path analysis will change the way you think about marketing
22. The Purchase PathSource-Level View
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23. The Purchase PathAd-Level View
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24. The Purchase PathClick Path Details / Product(s) Sold
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25. The Purchase PathClick Path Details / Product(s) Sold
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26. 10) A/B testing is effective for attribution
27. If time werent an issue
Test needs to be longer than avg. sales cycle
Tests arent cheap
How much time do you want to be in test mode?
Dozens of tests need to be performed to get to answers that analytics can provide concurrently
28. A simple A/B test
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Network 1
Network 2
Website 1
Website 2
Creative 1
Creative 2
Sales Cycle = 7 Days
Test Cycle = 14 Days
What about ad sizes, demographics, psychographics?
What if there were more networks, websites, creatives etc?
29. 11) Attribution takes too much time it
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30. Attribution saves time
Automatically calculate credit according to your attribution rules
Same data points just more accurate values
Decisions off more accurate data yields better outcomes
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31. 12) Attribution is a silver bullet
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32. People are the silver bullet
There are no silver bullets
It still takes competent people
Elements like bid management can be automated
Humans need to set rules
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33. Contact ClearSaleing
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Adam S. Goldberg
Chief Innovation Officer
P:614.448.2688 x902
E:adam.goldberg@clearsaleing.com
www.AttributionManagement.com
www.ClearSaleing.com/Blog
Follow ClearSaleing: http://twitter.com/ClearSaleing
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