My fellow marketers, we’ve come a long way. The days of crossing our fingers, spray-and-pray, throw it on the wall and see what sticks are over. Digital technologies have not only given us new channels in which to market, but new ways to measure our success.
All of those channels, of course, also make our lives more complicated. We intuitively know that they work together, but how they do so is hard to pin down. For years, last click attribution was our best answer. As a former media practitioner, I know firsthand that it wasn’t a very good one. In my gut, I knew that last click didn’t deserve all the credit. That frustration led me to look for better answers, which led me to attribution. But that’s a different story.
Attribution does provide a better answer. It allows us to measure not only how each channel in an omni-channel program performs, but how those channels interact and impact each other. It’s powerful stuff. Like any technology, however, it’s most powerful when you know how to make the most of it.
Which brings me to our new blog series: Optimization tips and tricks. Once a month or so, I’ll be sharing what I’ve learned from working with clients to implement and optimize their attribution programs. These are the techniques and strategies that I’ve seen make the biggest difference in using attribution to its full potential.
This week: Identify low contribution channels.
Cross-channel measurement looks at which channels led to an eventual conversion. That’s great, and certainly a step up from last–click. But all touchpoints are not created equal. It’s critical to learn which channels actually contributed to the action, not only which ones were somehow involved.
For example, a prospect may have seen your ad on TV, visited your website via mobile, viewed a display ad, and finally made a purchase via desktop browser. Which engagements actually contributed to the conversion, and which were extraneous? This is especially important given the cost of certain channels. In the example above, for instance, the display ad may have made zero impact on the conversion event, but it’s still costing you money.
Attribution technology like Conversion Logic breaks down not only which channels contributed to the conversion, but how. With this information, you can balance the cost of the channel with its level of contribution to the conversion event. In short, you can cut the tactics that don’t carry their share of the weight. Now that’s powerful.