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Best-of: the most important terms in online marketing

Begriffe_Online_Marketing_Attribution
15. 11. 2017

Marketing attribution is a complex discipline. Today, Advertisers need to know a variety of expressions and technical terms, in order to achieve the greatest benefit. In this article we have summarized a best-of of the most important terms around attribution and online marketing.

 

Addressable Channels = Marketing channels where data on individual user level (e.g. cookie data) is available to measure touchpoints in the customer journey (e.g. Email, SEA)

Advertiser = Company or organization that runs advertisement for themselves, its products or services or alternatively commissions advertisement to third parties.

Artificial Intelligence = The ability of a digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings. The term is frequently applied to the project of developing systems endowed with the intellectual processes characteristic of humans, such as the ability to learn from past experience.

Baseline = Number of conversions that can solely be explained by the advertiser’s brand awareness without any further marketing impact.

Bathtub Model = Attribution model which is characterized by its U-shaped distribution, where the first and last touchpoints in the customer journey receive a higher percentage of credit than the touchpoints in between.

Big Data = Large amount of unstructured and semi-structured data, which is constantly produced using new media and causing a flood of data.

Conversion = The process of changing a prospect into a customer. A conversion can for instance be a transaction, a registration for a newsletter or a download.

Cross Device Tracking = Process of matching multiple devices to one single user to generate a holistic customer journey for this user.

Customer Journey = Chronological sequence of all marketing touchpoints experienced by an individual user that lead towards a desired action (e.g. a transaction or a registration).

Data Management Platform (DMP) = Data warehouse technology that centralizes, manages and activates different data sources to generate audience segments that can be used for marketing and media audience targeting and campaign optimization.

Dynamic/Data-driven Attribution = Continually captures which touchpoints in the customer journey contribute to a conversion and considers each channel and its contribution individually.

External Factors = Seasonal, economic, or competitive factors that are not under the direct control of advertisers, but still affect the effectiveness of marketing efforts.

First Party Data = Consumer data that advertisers usually collect without any additional costs by direct correspondence with the company’s customers, e.g. CRM data.

Linear Model = Attribution model that equally values the contribution of each touchpoint in the customer journey.

Machine Learning = Application of artificial intelligence that empowers systems to learn autonomously and automatically and to improve from experience without being explicitly programmed.

Marketing Attribution = Identification of a set of user actions (touchpoints) that contribute in some manner to a desired outcome (conversion), as well as the assignment of a value to each of these events.

All you need to know about Marketing Attribution

 

Non-addressable Channels = Comprises channels where marketing messages are communicated to consumers that can’t be identified on user level (e.g. TV, radio, print, out-of-home).

Organic Channels = Channels that generate unpaid, organic traffic on an advertiser’s website, e.g. SEO or direct type-in.

Owned Marketing = Media channels that are owned by the advertiser and are used to promote the company such as the website, blog or social media platforms.

Paid Media = Any type of paid advertisement, e.g. Display or SEA.

Publisher = A media vendor, that runs advertisement within different online marketing channels for the advertiser, its products or services.

Rule-based Attribution = Attribution models that are based on pre-defined rules or set of rules and therefore determine the winner of a conversion in advance.

Third Party Data = Consumer data that is collected by an external source from the advertiser that intends to reuse the data.

Time Decay Model = Attribution model that assigns more value to each touchpoint the closer it is to the conversion.

Touchpoint = Contact point of a user with an advertiser’s marketing measures or website.

User Journey = Customer’s path without a purchase or other type of conversion.

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