Attribution, or determining the impact each of your digital marketing programs have on your campaign’s overall performance, requires you to examine and compare all your conversion touch points carefully. Google Analytics already has useful tools such as Multi-Channel Funnels and the Attribution Model Comparison Tool, but its premium service takes marketing attribution to a different level with its new Data-Driven Attribution feature.
It used to be more difficult to determine how well a specific marketing channel worked, and web analysts were required to manually assign values to each of their touch points based on recommended attribution models. The new premium feature automates the process using detailed and accurate data.
The Data-Driven Attribution model takes data gathered over 90 days, and compares multiple visitor paths, including those that don’t convert. Using Google Analytics Premium’s Model Explorer, you can study how the feature calculated the values for each touch point and compare the Data-Driven Attribution model with your previous one.
You can proceed to the ROI Analysis report after comparing your attribution models to receive detailed optimization insights and recommendations.
In a recent Google Analytics blog post, Product Manager for Attribution, Bill Kee, and Product Manager for Google Analytics Premium, Jody Shapiro identify four important reasons for marketers to use Data-Driven Attribution:
Algorithmic: The model automates the credit or value distribution across different marketing channels. The model adapts and refreshes regularly using the most recent visitor path data, and users can identify success metrics and goals.
Transparent: The new Model Explorer allows marketers to monitor and study model behavior and understand how the feature assigns values to the different touch points.
Actionable: The feature provides insight into the contribution of each marketing channel, and helps users make better marketing decisions based on gathered data.
Support: Google Analytics Premium customers can rely on dedicated services and support teams to assist them throughout the process.
Cross-platform Integrations: Users can use data from almost any digital channel, including Google products such as AdWords, Google Display Network, and YouTube.
You can still tweak the automatically-assigned values to apply your own rules and assign your own values as needed. While the new model has effectively predicted conversions better than a last-click methodology, Kee and Shapiro say that “Data-Driven Attribution seeks to best represent the actual behavior of customers in the real world, but is an estimate that should be validated as much as possible using controlled experimentation.”
Talk to us today and let us help you identify your most effective digital marketing touch points and create a campaign that will improve your brand credibility and increase your ROI.