<< by on March 23rd, 2011
It’s day two, here at SESNY. I got a good night’s rest and I’m ready for the first session entitled, Channel Surfing: Measuring Profit & ROI Across Channels. This presentation gives an in-depth look into the particular channels that influence conversion(s) on your website.
Speakers for this session include:
- Anto Chittilappilly, Co-Founder, President & CTO, Visual IQ
- Thomas Bindl, SES Advisory Board & Founder & CEO, Refined Labs GmbH (@refinedlabs)
- Adam Goldberg. Chief Innovation Officer, ClearSaleing (@adamsgoldberg)
It takes the average person 36 hours to make a purchase. That being said, where does Google always want to give credit? TO SEARCH!
10 biggest misconceptions of attribution (Goldberg)
- I don’t have an attribution problem – Most of my customers convert after one click – NOT TRUE!
- Last click is the chosen one – Search engines are getting wise to this. It will become obsolete.
- No good methods for assigning credit – More than one ad was used in the buying process. Which ad gets the most credit?
- Attribution can be done with web analytics – Yes, for paths, but again, how much credit does each ad get?
- Attribution can be done in a silo – If only for ads, you’re missing out on the whole process
- Attribution is about buying the right mix of media – There needs to be a value assigned to each facet
- Pulls dollars away from search – Search and search terms collaborate with attribution
- Path analysis is a waste of time – Taking a look at all the steps a customer took to convert
- A/B testing is effective for attribution – Find out which networks and websites perform best for each campaign (Should be able to find out in 14 days)
- Attribution is a silver bullet – Helps you get ahead, but you need to be able to implement the results
Issues you need to think about in attribution (Bindl)
The sales funnel exist… but people still behave individually
- Almost no typical patten (Bindl)
- People have individual demands and concerns
- AIDA is not channel specific
- 1. Affiliate marketing can generate attention
2. PPC van generate interest
3. Social media can generate desire
4. Display can trigger the action
Attribution visitors is only 50%
- Every channel has different rules (Affiliate vs. Performance media)
- Every channel has different constraints (CTR, Quality Score, ad format)
- Every channel has different goals (Branding, sales, mixture)
- Every channel has different prices (CPM, CPA, CPC)
You have to look at the amount of money you spend through out the whole process (PPC, links, etc)
Look at the total cost per transaction
- Media cost
- Agency fees
- Tecnology fees
In order to make decisions, you need granularity
- Influence on conversion is important
- Different actions have different values
- Unified data as base for decision making process
- Reporting on most granular, controllable unit
“Operationalizing” attribution marketing findings (Chittilappilly)
Once I find attribution, how do I turn it into repeatable processes?
Use the metrics for which are already operationalized – Don’t reinvent the wheel
1. Attribution process that recalculates your metrics
- Cross channel impact
- Cross campaign impact
- Cross “attribute” impact
Display them side by side – see what you “Though” vs. “Reality.”
Do this by:
- Using your existing processes
- analyzing the results
- identifying areas of opportunity
- defining optimization strategies
2. Enable existing processes to capitalize on affinities
- Example: Affinity between unbranded to branded keyword
- Example: affinity between display creatives and search keywords
Consumers experience is multi-dimensional. Imagine the touchpoints along the path to a conversion. When you really tell what is truly influencing your path to conversion, you get a more granular look through the whole process. So insist upon multi-dimensional attribution.
Plenty of factors can affect consumer behavior
- Timing Publisher
Attribution can be performed within each step, so you must follow it through the whole process