ChannelAttributionAnalysis

THE DIGITAL ANALYTICS COMPANY

A Boon for Digital Marketers

Marketing budgets are soaring asonline & offl ine channels are gettingamalgamated .

WHAT IS CHANNEL ATTRIBUTION ANALYSIS?

Channel attribution analysis answersthe most pertinent question that everydigital marketer has in his mind –

“What part of my marketing efforts ,should be credited for this specificsale?”

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Digital marketers always want toknow how each marketing dollarperforms and how it translates intosales .

WHY IS CHANNEL ATTRIBUTION ANALYSISGAINING MOMENTUM?

Today channel attribution analysis has become ascience and requires special expertise due to thehigh complexity .

Attribution has to cover parameterssuch as :

Multiple digital channelsMultiple media

Multiple screens

Multiple sales channels .

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The area of channel attribution modeling issti l l in the evolving stage and there arevarious techniques that analysts util ize toarrive at the golden numbers .

CHANNEL ATTRIBUTION MODELS

Some of the popular techniques employed forattribution include :

Last-click model : Credit for the purchase is given to theonline customer touch point from which the click-to-purchase occurred .

First-click/First touch-point model : Credit given to f irstidentif iable click or ad impression /view recorded for acustomer .

Average allocation model : Equal credit is given to all therecorded touch-points .

U-shape model : Credit is given to the touch-points at thebeginning & the end of the customer journey .

Time decay model : Credit is given to the touch-points atthe end of the customer path to purchase . 03

Huge Benefits

WHY SHOULD DIGITAL MARKETERS INVESTTIME IN CHANNEL ATTRIBUTION ANALYSIS?

Due to this , several digital marketers aremoving towards advanced channelattribution analytics .

Implementing a sophisticated multi-touch-point channel attributionanalytics model is not as easy as itsounds . But the results are prettyastounding for any digital marketer .

Let 's have a look at those benefits .

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OptimizeCustomerJourney

BENEFIT NO : 1

By studying the marketing funnel andcustomer journey in great detail andgiving credit at the right places , digitalmarketers can get a betterunderstanding of the customer journeyand optimize their media mix for betterresults .

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Giving creditwhere it ’s due

BENEFIT NO : 2

Attribution analytics providestransparency around introductory ,

assisting , and converting channels . Thisgives an opportunity to the marketers toallocate a fair share of credit to eachcontributing channel based on theirimpact on the key conversion metric .

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Reducingcost peracquisition

BENEFIT NO : 3

Channel attribution analytics can helpmarketers avoid wastage of mediaimpressions and boost the channel levelROI by investing in the right places andkeeping the CPA under control .

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Optimizingmulti-channelmedia spends

BENEFIT NO : 4

The most important advantage ofchannel attribution analytics is toidentify the best channels that help inconversion and sales and investing moreon those channels . Digital marketerscan get a clearer picture of what worksand what doesn ’t and then allocatetheir marketing dollars for the bestoptions .

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Powerful tools and analytics models are nowavailable for marketers to get started withchannel attribution analytics or go a level higheron the ladder with advanced analytics that iscustomized for their business needs .

HOW TO GET STARTED WITH CHANNELATTRIBUTION ANALYTICS?

There are various approaches , methodologies andsolutions available that can make the task easier butattaining precise answers is sti l l a distant dream formarketers .

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Nabler offers a client-specific andcustomized channel attribution model thatincludes the following stages :

NABLER ’S CHANNEL ATTRIBUTIONANALYSIS APPROACH

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Channel attribution is now considered an integral part of digitalmarketing ecosystem but it comes with its own disadvantages .For instance , there are many offl ine channels that cannot betracked with accuracy . There are many customers who move fromoffl ine to online channels and in those cases , companies cannever be sure of the attribution .

Despite these challenges , channel attribution is becoming apriority for marketers as the process of attribution modeling isnow getting more sophisticated with the multi-channel approach .Marketers can get a better understanding of marketing impactand focus on better performing digital channels with agil ity .

CONCLUSION

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