For making decisions.
Attribution Marketing must help you to make decisions and take control of your marketing budget. All those statistics that do not help you to increase your income knowing your customers better, are “ego-statistics”. I mean, they only help to others think how smart you are taking deep but useless data.
Here is a real example:
What happens when a traffic source generates sales, would you stop it? According to the CPA may be yes or no.
If the CPA is “positive” would you stop it? Normally, the answer is no, continue!
This is where the attribution can help you.
What would you do if you find a traffic source where:
- 100% of your conversions are being assisted by other sources?
You would assume that we are talking about a re-marketing source
- Have you considered the costs of the sources that start the customer journeys to the CPA of the source that closes the customer journeys?
Here you have the first surprise of the day. Your CPA is no longer so profitable.
- Did you know that in most conversions of remarketing sources, 3 different sources participate?
- Did you know that in most conversions coming from remarketing sources do require at least 6 clicks from other sources, before to close a sale?
- What would you do if the ARPU of this source is 50% lower than the rest of the sources? Although the CPA is “correct”, we would be losing ROI or generating less profitable customers than the rest of the sources.
Do you really think that a remarketing campaign where the user has previously passed through 3 sources and clicked 6 times before closing by this source is so “necessary”?
I don’t want to enter the subject if a source is profitable or not, all those with whom I have spoken about attribution known my opinion:
“The attribution has to help you to invest optimally in all the channels to maximize the sales of your business”.
We provide data for decision making, you can continue to apparently be growing or really growing based on data.
Do you sell products or attract customers? How easy it is to say both 🙂
What is your main metric… ROI or CAC? If you answer is both, think for yourself, do you really know what your CAC is?