How to make yourself an ROI Marketer – An Introduction to Attribution [Oi Conference 2018]

How to make yourself an ROI Marketer – An Introduction to Attribution

Sam Roberts, Senior Strategy Consultant, Liberty Marketing

What is attribution?

Assign value to each touchpoint in a customers purchasing/conversion journey.

Why should you care?

Well, attribution allows you to align budgets, improve projections and prove that you are a top marketer.  Attribution helps you find the proof that you need to demonstrate how your marketing mix is working for you and potentially help you ask for an increased budget.

You are likely to be reviewing your analytics to check what is converting. You may be using analytics to help define value – but this is hard and can be misleading. Working with different attribution models allows to you take into consideration the different ways you have converted.

Think about how you credit conversions, google analytics gives 100% credit to the last step in the journey ie. “last click attribution” but this is not good as it doesn’t tell the full story. This is often what people look at and is should not be.

If you do this you will lose out.

E.g. You might be using adwords to increase awareness, but your sales are coming from Organic SEO and therefore you say “let’s forget adwords” BUT if you cut your adwords budget you have actually removed your first touchpoint with your customers that was actually boosting your visibility.

Attribution models

When designing you attribution model you need to add each touchpoint in your customers journey into your model.  You need the evidence / data to show the value of the touchpoints throughout the journey.

• Linear model – equal (e.g. 20%) for each stage.
• Position Based Model – higher for first and last stage (e.g. 1 and 5 at 35% and 2-4 at 10% each).
• Time Decay Attribution – set a time frame and allocate reduced attributed value with time.
• Custom attribution – a mix of the factors.

Where is the value in your conversion cycle?

Set up the models and then test test test. You can use google analytics to do this.

Read more on this topic: Attribution Modelling – Ultimate Guide