Multi-click attribution modelling reveals that paid social media drives conversions at the start of a user journey and so is unfairly measured by last-click attribution modelling.
Attribution modelling is an important consideration for most marketers and recently a lot more attention is being paid to the multi-click methodology as it can provide the holistic, integrated view that marketers really need.
The latest brand experimenting with this method is accessories etailer Stylistpick which found it had been undervalueing Facebook’s effect on conversions.
Stylistpick’s senior online marketing manager Cormac Doyle, said, “Anyone looking only at their ads on a last-click conversion basis, in any case where there are multiple clicks in the path to conversion, will be undervaluing Facebook.”
Similarly, both retailer Office and travel brand Thomas Cook recently argued that brands should be moving away from last-click.
Sophie Stoner, head of online partner marketing at Thomas Cook, said, ““Traditionally advertisers have tended to look at things in silos. We need to ensure that we are looking at the impact different marketing activity has on each other. We are analysing the impact that retargeting has on search, and the results are interesting.”
Research by Qubit earlier this month actually quantified the amount of money misspent by advertisers who were only measuring and rewarding based on last-click at £175m this year.
In order to really understand the complex nature of channels we need to be measuring by last-click. More importantly, to get the most out of channels the right proportion of spend needs to be attributed to each channels. As Stylistpick’s Doyle said, now that the brand is correctly investing in social media, its traffic has grown, and without that level of spend, conversions wane.