Analyzing the journeys taken by your customers and attributing a value to each channel or touch point during the journey is both a challenge and an opportunity.
Get it right and you can make better-informed decisions on your marketing investment.
However, for many companies, attribution can be a complex, multi-dimensional challenge as their customers engage over a long period of time via multiple channels, on multiple devices, both online and offline.
Building an attribution model that works for your business
From our experience of working with some of the world's leading brands, the starting point for building an attribution model is to identify the goals of the model.
Our Analytics and Data Science specialists work with our clients to identify the questions that their attribution model should aim to answer. These will vary for each company, but will include questions such as:
- What is the true value of each channel in my digital marketing strategy?
- How do I ensure advertising spend is directed to the most profitable channels?
- Can I drive more revenue/profit without increasing marketing spend?
- How can I make sure that I am presenting the right information, at the right time, in the right place, and to the right customer, resulting in more sales?
A scientific approach
Once we have identified the questions you need answering, we work with you to ensure that the right data is being captured for each touch point in the customer journey. This will include your analytics and advertising channels (e.g. AdWords, DoubleClick and Facebook), as well as offline data.
Adjust, test and refine
Depending on the volume of data, we will use a tool like Google BigQuery to analyze your data, looking for trends and building hypotheses.
We then make recommendations for changes to your marketing strategy, and test the impact and re-run the models to identify further improvements, constantly refining as more data becomes available.
High volume, multinational, or multi-brand attribution modelling
For clients that are generating significant revenues from digital marketing, have campaigns in multiple countries, or have multiple brands, we would recommend considering the Google Analytics 360 Suite: as official sales partners we can guide you through the data-driven attribution model in this platform, together with the way it integrates with DoubleClick and other Google and non-Google products.