Data Day speaker and AdRoll APAC Managing Director, Ben Sharp, shares his thoughts on the controversial issue of media attribution.
Attribution is the hottest topic in digital marketing. AdRoll’s 2016 State of the Industry report shows that 41 per cent of ANZ marketers are not sure how to effectively implement or analyse attribution tracking, yet 92 percent consider attribution to be important or critical to marketing success. This is alarming.
There is no denying that attribution is hard. Really hard. In fact, there’s no right answer at this point in time. We sat down with a bunch of marketers from a range of big Australian businesses to nut out what we could share about this complex topic. One of the key points that each person agreed on, is that last click is no longer relevant in a modern attribution model.
Single touch or last click attribution is an easy, but lazy and inaccurate model. Last click was perfect for the days when all a marketers had one online channel. Those days are long gone. Technology stacks are now so sophisticated that they have their own awards - The Stackies!
Another thing that each of these senior marketers agreed upon was that there is no one-size-fits-all model for attribution. Each business has a different set of goals and metrics that matter to them, and working with a technology partner that can be flexible and optimise towards your goals is hugely important. You dictate the metrics, not your technology vendor.
Getting buy in from the C-suite is another one of the pain points felt by marketers. Last click is easy to understand which can make it very attractive to those without a marketer's hat on. Explaining to the board that using the wrong attribution model could be costing the business huge amounts of money is a good way to get them to sit up and listen.
Finding the attribution model that makes sense for your brand is no easy feat. Do the research, ask your peers, attend industry events and training sessions, have a true understanding of the metrics that matter to you and your C-suite and take it from there.