With changes in terms of privacy and increasingly digital daily habits, it becomes essential for businesses to redefine their approach to attribution and mark a real turning point in data analysis.
The last-click attribution model no longer reflects the true buying behavior of real consumers. It can alter budget allocations and media buying schedules, leading brands to allocate an exaggerated portion of the budget to channels where the last-click model is beneficial, while underestimating other channels that can generate incremental results.
Data-driven attribution uses machine learning to decipher the different touchpoints throughout the customer's purchase journey, how they affect conversion results, causing the model to distribute conversion credit accordingly.
This template has been available in Google Ads since 2014, but has now also been incorporated into the new Google Analytics4 platform. It works on various devices, such as smartphones and tablets, and on different channels, such as the search network, social media, apps, the Display Network and YouTube.
A striking example of this new approach was pioneered by one of the most famous Italian brands: Geox.
Geox began grouping fragmented datasets to better understand the contribution of each marketing channel to the growth of the company. In particular, the company wanted to understand how paid social campaigns contribute to sales and optimize accordingly.
By bringing together a substantial amount of raw social media data and uploading it to Google's Search Ads 360 platform, the company was able to improve reporting and bidding decisions at a high level.
Seeing the contribution that paid social campaigns made to conversions across various devices, Geox worked on a cross-promotion strategy: users who viewed paid social campaigns were also shown ads from the paid search network, and those who viewed paid search ads. Search ads were showing paid posts. This strategy resulted in a 6% increase in return on ad spend (ROAS). In addition, this simplified system has made it possible to reduce the time spent on campaign management by 30%.
To find out how to take care of your customers and retain them, rely on E-Business Consulting, a Digital Marketing company active since 2003. Contact us for a free, no-obligation quote.