Which bits of my marketing are working?
- 04 Jun
Multi-channel attribution vs last click wins.
Multi-channel what? I hear you ask. Multi-channel attribution is a hot topic in e-commerce and marketing, so it's worth getting clued up.
What is it?
The best way to explain multi-channel attribution is to first look at what it's not - single-channel attribution, or, as it's sometimes known, "the last click wins".
Single channel attribution means assigning all the credit to the channel that has led to the final sale.
For example, if I want to buy a patio heater, I might go to the website of a favoured patio heater retailer, select my prefered model and buy a heater. In this instance, the website is afforded the full credit to say that it was totally responsible for the sale. This is called a "last click win" and the temptation is to assume that the website was the sole cause of the sale, but is this right?
OK, now multi-channel attribution.
Rather than only attributing value to the channel that has had the last click before the sale, multi-channel attribution gives credit to all the channels the user has engaged with.
If you think about it, how often do you personally search for an item and buy it instantaneously? More likely, you will start with a generic search term like "garden furniture", then you might click a paid advert to Amazon garden furniture. Then, in time, and through various channels like re-marketing, email and social media you will go backwards and forwards to that website and product. Finally, you may be given an offer or just decide it's time to buy.
You have now spent 4 weeks looking and have refined your requirements to a particular brand and style, so you you go to Google and type "Palm Springs 13KW steel gas patio heater, Amazon" (it exists!) leading to you clicking on a natural search link.
What is the advantage of multi-channel?
In real life, the sales funnel is rarely conveniently linear. Instead, customers will bounce around in the decision making phase, researching options and defining needs before committing to buy. This is particularly the case in B2B.
As marketers, we need to see the whole journey to judge our spend. Rather than investing totally in the last click channel, it becomes obvious that a better distribution of spend is needed. In the example above, pay-per-click was important for the awareness, the email and the re-marketing for the nurturing and the SEO search for the action. This follows the Awareness Interest Desire Action model of buying behaviour.
What tools can be used to do this?
To keep your eye on all elements of your marketing, you need several measurement tools. Google Analytics is the Godfather and an advanced understanding of its workings can give you most of the information you need. Email marketing programmes, website visitor identification software and social media monitoring tools can also be pulled in to give the full picture.
Technology providers are seeing the growing demand amongst marketers and their pay-masters for multi-channel attribution and are bringing multiple implementation and measurement tools together in comprehensive marketing packages. HubSpot, Marketo and Pardot are probably the market leaders. We are currently implementing Pardot with a client and will report on our experiences in future posts.
Come on - it's the World Cup, hit me with the football analogy.
OK, you asked for it.
Just like picking your World Cup fantasy football team, you need different players with different skills to work the ball up the pitch and score. You wouldn't play a team filled with centre forwards just because they are the only ones that score the goals. You need to understand the role and value of each player. The same is true of marketing.
Written by Guy McAll and Neil Edwards
- 23 Jul
SharpSpring recently announced the launch of their Visual Workflow builder. The new feature intends to make the process for creating workflows easier and brings it in line with the likes of Pardot...
- 17 Jul
Malcolm Gladwell, in his book Blink, argues that the lengthy procrastination that often takes place in decision-making is ‘post self-justification’, because we actually make up our minds pretty...
- 23 Jun
A news article came out through the Bangkok Post (we found it through The Verge) last week about the arrest of three Chinese nationals. The trio had been paid over £10,000 a month to run a...
- 17 May
Financial services marketing agency, The Marketing Eye, has appointed Jason Dilworth to the new role of Technical Director in a move designed to expand and develop the company’s data-driven...
- 24 Apr
For an industry whose origins and continuing existence rely heavily on the accurate analysis of statistics, the insurance sector would do well to note the seismic shift taking place in modern...
- 19 Apr
Asking someone to buy your product or sign up to your service after only one mail-shot or email is unrealistic. We can’t expect that one email, no matter how carefully crafted, will be enough to...
- 24 Mar
So, your business has splashed out on a big, beautiful high quality piece of video content, you are going to want to stretch it as far as it will go, right? Then don’t do what everyone else does...
- 23 Feb
With around one-fifth of the world’s population on Facebook, you would think generating brand awareness and leads from it would be a piece of cake. The reality is less straight forward. With a...
- 14 Feb
Marketing automation systems are powerful, intelligent and the bedrock of many businesses' marketing strategies, but getting to learn and understand them takes time and dedication. Not becoming...
- 08 Feb
If you look for evidence of the potential benefits to B2B organisations of social media, you will see both lead generation, as well as brand reinforcement are being addressed to great advantage....