Attribution Management: Common Myths & Misconceptions
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The document explores common myths and misconceptions about attribution management in marketing, highlighting issues such as the reliance on last-click attribution and the notion that attribution can be simplified to one effective method. It emphasizes the need for competent human oversight, the importance of using various attribution models, and how proper attribution practices can lead to better decision-making and outcomes. Finally, it argues that while attribution can save time, it is not a one-size-fits-all solution and requires a nuanced approach.
Attribution Management: Common Myths & Misconceptions
- 1. Attribution Management Forum 7Myths and MisconceptionsPresented by:Adam GoldbergCo-Founder and Chief Innovation OfficerClearSaleing Inc.1
- 2. 1) I don’t have an attribution problem
- 3. Do I have an attribution problem?Multiple ad sourcesBig advertising budgetsSales cyclesVisits/conversionSelf-fulfilling prophecy
- 4. 2) Last click is the chosen oneHence,Last Click
- 5. The birth of last clickCame from Web AnalyticsTrying to solve what customers do on siteNot the path they took to get thereOnly last click was exposedHappenstance
- 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 clickNot easy Not 100% accurateWhat’s the alternative?Simple models are very effectiveEven with brand exclusionsLast ClickEvenExclusionsRules BasedAlgorithmic
- 9. 4) There are no good tools
- 10. Forrester Wave on Interactive Attribution
- 11. Downloads11Forrester Wave on Interactive Attributionwww.ClearSaleing.comAttribution Management Buyers Guidewww.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 clicksWhat about display view-throughs?Email?SEO?Affiliates?Offline conversions?How do you value each step in the pathIs it actionable?Time Bid Management
- 14. 6) Attribution can be done in a silo
- 15. I have swampland in Florida to sell youHottest topic in online marketingChecking the box on marketing collateralIgnores everything but searchBetter than last click
- 16. 7) Attribution is buying the right mix of media
- 17. One side of the attribution coinPartially trueProject vs. Operational attributionAKA Media Mix ModelingVery importantEveryone should be doing thisNot validating what has been done
- 18. 8) Pulls dollars away from search
- 19. Pulls dollars from search to searchNot trueClient’s search budgets are increasingReduces value of brand termsIncreases value of general termsValues introducer and influencersi.e. Top of the funnel
- 20. 9) Path Analysis is a waste of time
- 21. Interesting vs. ActionableAgree if it takes you hours upon hours to assemble pathsPull in spend dataPull in each stepMatch conversionCompile path reportsBrand as navigationAffiliates as closersPath analysis will change the way you think about marketing
- 22. The Purchase PathSource-Level View22
- 23. The Purchase PathAd-Level View23
- 24. The Purchase PathClick Path Details / Product(s) Sold24
- 25. The Purchase PathClick Path Details / Product(s) Sold25
- 26. 10) A/B testing is effective for attribution
- 27. If time weren’t an issue…Test needs to be longer than avg. sales cycleTests aren’t cheapHow 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 test28Network 1Network 2Website 1Website 2Creative 1Creative 2Sales Cycle = 7 DaysTest Cycle = 14 DaysWhat about ad sizes, demographics, psychographics?What if there were more networks, websites, creatives etc?
- 29. 11) Attribution takes too much time it29
- 30. Attribution saves timeAutomatically calculate credit according to your attribution rulesSame data points just more accurate valuesDecisions off more accurate data yields better outcomes30
- 31. 12) Attribution is a silver bullet31
- 32. People are the silver bulletThere are no silver bulletsIt still takes competent peopleElements like bid management can be automatedHumans need to set rules32
- 33. Contact ClearSaleing33Adam S. GoldbergChief Innovation OfficerP:614.448.2688 x902E:adam.goldberg@clearsaleing.comwww.AttributionManagement.comwww.ClearSaleing.com/BlogFollow ClearSaleing: http://twitter.com/ClearSaleing
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Editor's Notes
- #2: Goal: Show the right display ad on the right network on the right sites to the right audience