Posts tagged with Atrribution

Five valuable tips for using marketing attribution

In late 2012, Econsultancy published the latest edition of its Marketing Attribution Management Buyer’s Guide, at a time when attribution was a particularly hot topic for marketers.

Vendors were furiously marketing their attribution platforms, and there were blog posts galore on the subject. Since then, talking about attribution, particularly in the same breath as the dreaded term ‘big data’, appears to have gone somewhat off the boil.

Or so I thought, before attending a recent Econsultancy roundtable on the subject of marketing attribution, where discussion and debate was as lively as I have seen at a roundtable. 

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IMW 2013 Econsultancy Hangout: Measurement, analytics, and attribution: part one

Last Wednesday, Stefan Tornquist (VP Research, US at Econsultancy) moderated a lively discussion on Measurement, Analytics, and Attribution that quickly maxed out the attendance capacity of the Hangout

I was joined by digital analytics gurus Jim Sterne (founder of eMetrics Summit & Digital Analytics Association) and Tom Cunniff (founder of Cunniff Consulting) to discuss what marketers need to do beyond gathering information, and how to apply measurement and analytics to strategy across the business.

A lot of important points on the current state of attribution and what’s in store for the future were discussed during the first half of the hangout, which are summarized here...

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The false comforts of fractional attribution

Back in 2008 I thought fractional attribution was a complete solution but after the last four years working with brands, my opinion has changed.

I have discovered that while this method is not entirely without merit, it is disappointingly limited and doesn’t do much to help a marketer re-allocate spend meaningfully.

In 2008 Microsoft said 'the company can now provide a scientifically based standard showing how well different media affect an eventual conversion', this was engagement mapping, a classic example of fractional attribution and what have we learnt from it? 

My take on it is that user interface sliders and shiny bubble graphs are sexy but technology has to do more than look good, it must synthesise, it can’t just echo back what you tell it.

It’s important to try and learn about the successes and failures of your marketing spend, this is how we build successful programmes. Attribution analysis should enable you to examine the empirical value of your media and reallocate your spend accordingly.

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Credit where it’s due: dealing with the myths of attribution

The most common misconceptions surrounding attribution are that it’s not really technically or practically possible and that you already need a fixed idea of how your individual digital channels contribute to make it worthwhile.

Both are exactly that, misconceptions.

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