Digitalization has created numerous opportunities to reach consumers with relevant content through a variety of channels and platforms. The customer journey is becoming increasingly complex and simplified attribution models such as Last Click Wins are no longer sufficient to capture this complexity.
Advertisers need to look at all touchpoints in the customer journey in order to gain a holistic view of the consumers’ purchasing behavior. This is where dynamic attribution comes into play. By reflecting on all touchpoints involved, marketers can find out which measures are efficient and where there is a need for optimization.
The following 8 best practice tips reveal how marketing attribution can be successfully implemented.
1. CHOOSE A PROJECT MANAGER
One of the strengths of dynamic attribution is that it shows advertisers how different advertising measures and channels influence each other. This breaks up data silos and marketers gain important insights into the buying behavior of their customers. Since many different teams are involved, it is important to have a targeted contact person in the company who is responsible for the implementation process. This can help to overcome obstacles and pave the way for the implementation.
2. EDUCATE STAKEHOLDERS
An important step for a successful implementation is that all internal stakeholders and external providers understand what dynamic attribution is, how it works, why it is implemented, where its strengths lie and what requirements it entails. If all stakeholders are trained and educated sufficiently, the implementation will go smoothly.
3. DEFINE BUSINESS GOALS
Marketing attribution breaks down silos and shows how different channels and actions work together to achieve business objectives. To achieve this, the entire marketing team should agree on a common set of KPIs that are consistent across all channels and used to evaluate and optimize marketing campaigns.
4. CREATE A DATA PLAN
One advantage of implementing a data-driven attribution solution is that the data is captured, stored, and consolidated in a single platform. Marketers must first get an overview of their data and create a plan that lists the required resources and clarifies the most important questions for collecting, updating and processing the data. This allows marketers to find out what data they really need.
5. DEFINE A UNIFIED STRUCTURE
Advertisers should agree on a unified campaign structure and naming convention, which is the basis for the collected data and analysis tools in the attribution platform. This simplifies the long-term analysis of their performance and makes working with the key figures more transparent.
6. MOTIVATE THE TEAM
For the success of the implementation it is important to manage the expectations of the entire team. Data-driven attribution is very different from traditional approaches. Accordingly, marketing teams should be enthusiastic about the new solution and trained in how to use it. The correct interpretation of the results is crucial for success and can provide relevant insights for campaign and budget optimization.
7. START WITH A PILOT PROJECT
The implementation of a new solution brings with it some challenges, especially at the beginning. It therefore makes sense to test the dynamic attribution on a smaller scale first. This way, marketers gain insights into possible requirements and can make initial adjustments. These results then provide important insights for the implementation at a larger scale.
8. UNCOVER OPTIMIZATION POTENTIALS
Knowing which channels and measures contribute to a conversion helps advertisers to plan and forecast future advertising measures. It is important that advertisers react to the results of the attribution system and make adjustments. This way, it is possible to gain insights into the effectiveness of the strategies throughout the entire course of the campaign and uncover optimization potential.
In order to carry out effective campaigns, it is important that advertisers consider all influencing factors and customer touchpoints with the brand. Data-driven marketing attribution makes this holistic view possible. This allows budgets to be used efficiently and measures to be planned effectively in the long term. The implementation of such a solution brings challenges with it, but with the right planning and the involvement of all stakeholders it can have an enormous impact on performance.