Friday, January 25, 2013

Multi-channel digital attribution – what's next?

If you had read the recent eConsultancy report called‘Making Sense of Marketing Attribution’, you would know that the majority of websites are either not carry out any form of attribution or are still apply a last click approach. In this report the client-side marketers responding said that only26% were doing marketing attribution beyond last click … where the last channel used gains all the credit for the acquisition.

The online sector has been gradually moving towards digital multi-channel attribution, although it is still early days. The aim of these efforts is to understand the different online channels or touch points used by customers in their online paths to conversion on eCommerce sites, but:

 There is still little maturity of the attribution market, meaning there are several bespoke offerings and no real common standards between suppliers
  The current attribution methods used are basic in their mathematical modelling
  They are online-only, with no consideration for other non-digital channels (e.g. TV or outdoor)
In my experience, there is very little being done to look at the bigger picture that appropriately considers not just the journey and interactions across the disparate online channels, but also the offline ones…and it is here I think there is an opportunity.

I really think that businesses and their agencies need to move away from single channels of data (e.g. website analytics. TV viewing figures, etc.) and also beyond the basic online only attribution models. They need to understand the entire user journey that leads not just to a transaction, but to a longer-term relationship. Only then can business truly understand the influence that different devices, channels, proportional activity and other factors (such a peer recommendations) have on purchasing and subsequent behaviour.
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