Let’s try to explain how attribution models can help your business. Remember, help your business means, sell more. For this we have created a short course of approximately 8 posts with emails where we will deepen on how a Data Driven philosophy can help our marketing strategy.
If you have considered how attribution models can help your business, it is that:
a) You are user, CEO, Marketer, PPCer, advanced webanalyst (SEOs are concerned with the changes of Google algorithms or how PPC-Brand deviates conversions) that due day to day and your need to improve and increase sales you have finished reading, discovering that attribution models can solve many problems.
b) You went to a conference or presentation and they have mentioned that attribution models are the Holy Grail of Online Marketing.
c) You have scroll through the Google Analytics reports and you have seen:
Can something be the “Holy Grail” of something and appear in the latest Google Analytics reports? there hidden, only and above is the Report of “Money”, the conversions 🙁
The worst thing is when you access it … nothing is understood.
Well that seems, because honestly it seems very good, that in the end when something is free, we think that everything must be free.
What they said that Attribution Models are?
An attribution model is a rule or set of rules that determines how the value of sales and conversions is assigned to the contact points of the conversion paths. For example, the Last Interaction model assigns 100% of the value to the final touch points (that is, the clicks) that immediately precede sales or conversions. In contrast, the First Interaction model assigns 100% of the value to the contact points that initiate the conversion routes.
Surprisingly, you search in google.com “Attribution models” and does not appear in wikipedia => Curious
Attribution models consist of dividing the sale between each click that participates.
Depending on the model you can distribute that sale one way or another, as we’ll see later.
How do we sell attribution models?
If you don’t use attribution, you are dead. If you want to sell more you have to work with multichannel attribution models, …
If you want to grow you have to know exactly how one channel affects another and where you neither sell or help sell, you close it. Phrases that I can agree more or less, none is false.
Therefore, huge expectations are generated, it’s like Breaking Bad, a lot of people say it’s brutally good, you have to see it and after 2.5 seasons I decide to abandon it. The worst thing is that you abandon it and there is always someone who tells you: “just at that moment the good began.” Sorry, but no!
Attribution is like Breaking Bad, you see how the character evolves. At the beginning you assign everything to the last click, then you pose new possibilities, so that finally you become the “King of cookies”.
How do you think attribution models will affect your business??
After documenting, seeing presentations and attending to commercials, you know that attribution is completely necessary, you need it and you will detect those hidden sources, those black keywords that are making you burn money and are taking advantage of your marketing budget.
The Holy Grail: You will only invest there where I am profitable!
What are attribution models really?
Look my friend, I would like to, I would love to make a show of intelligence and be able to say and share something with you so smart and disruptive that after reading it, you should hire this, our tool. Just in case I leave the link to start setup 😛 But it will not be like that. We’re going to eliminate all the smoke around the magic-attribution:
Dear marketer, if you want to grow your project or company, you will need to invest in all possible channels (online and offline), BUT following an order of profitability of your business. Nowadays very badly you have to be doing something so that an attribution software tells you that you are burning 100% of your budget in a specific channel.
It is the typical example that is used to sell: “Thanks to the attribution we detected that all the clicks of the source-A did not sell”.
This is marketing, online or offline, big data or no data, we are not going to reinvent the wheel, you have to be in all channels where your customers are, but you have to do it with a head.
Summing up we can say that:
The attribution has to help you invest in all my recruitment channels optimally to maximize conversions.
[bctt tweet=”Attribution models have to help us distribute our marketing budget optimally to maximize sales” username=”adinton”]
Are you currently working with a system that tells you where you have to invest and how much to maximize sales? If you answer yes, have you achieved these results? if you answer no, what do you lose by scheduling a call with our super-nice-cool-ready team?
So far what are smokeless attribution models. In the following chapters:
- Analysis of the different types of attribution and which is the best for my business
- Customer Journey and how to generate ulcers when seeing how my users click so many times in my Adwords ads
- Closing the circle with offline conversions: physical stores and call center
- If Content is the King, why do I only sell my brand for SEO?
- Welcome to the Affiliation and how to make a pirate ship work really well for us
- Facebook Ads and Social Networks, why are statistics unfair to them (for now)?
- Remarketing and Discount Coupons measure well or burn more money than you think?
- Adwords of my life, now that I know all about you, I want to invest (yet) more
- How much does Adwords influence SEO?
- Negotiation of advertising spaces with Art
- Click and Ad Fraud, are you stealing my wallet?
- These are us, My people.