Attribution: It’s not rocket science, it’s simple data
Path 51’s Simon Larcey considers why attribution has only recently become a hot topic, when in reality, it should be at the heart of every marketer’s strategy.
Attribution has earned itself ‘hot topic’ status in the digital space of late, with agencies offering it as a new way of validating their media buying decisions.
We often forget that media is an investment: brands buy it expecting a return on their investment. Just reaching your audience numbers, your impressions or your click throughs does not justify a good campaign – reaching goals and achieving real business outcomes does.
This is where attribution can be most effective, being used to demonstrate success – or a lack thereof – and helping brands understand where their media dollar is going.
Gosh I hope the univariate example of TV and website traffic was merely a theoretical example. I am yet to see a univariate relationship stand up to scrutiny in the real world of marketing.
This was a good article, I remember working for a company who was paying around £75 per PPC to google and they were looking into moving away from last-click attribution, many people can’t see that the last-click is word of the past, new attribution needs to be more like Markov chains, better attribution modeling will distribute weight correctly on each channels.
However, you will make few enemy along the way, this also can reduce some teams budgets, but provide better ROI.