All you need to know about Google Attribution
In 23rd March 2017, Google announced a new way for bidding optimization with Google Attribution. A new tool for marketers that enables them to keep track of the effectiveness put into their marketing efforts. This tool targets measuring the impact of your marketing even across several interactions and devices.
Today’s — and all future — buyers interact with you several times through several ads on multiple platforms before they even decide to buy or not. This creates an enormous amount of data that is almost impossible to track on your own. But don’t worry, there are solutions like Google Attribution or the wide and continuously scaling methods that come from big data and machine learning services. For now, we stick to Attribution as the newest gadget in Google’s playground.
How Google Attribution works
The main reason behind Attribution is that Google wanted to help marketers break through the standard last-click based marketing model.
As they’ve said: “Hello Google Attribution, goodbye last-click.”
Why is it so important to change this?
When planning your marketing campaign, you choose the channels that will bring you more value at the end of the day. “Value” can be brand building, engagement, but the most important part is conversions. The previous default was that conversions are coming from that very last click so that’s the most important channel for you, but we — fellow marketers out there — all know that before the actual purchase there are much more interactions that are important too. Those interactions were skipped in the last click interaction world. There were — manual — solutions to compensate that, like Avinash Kaushik’s attribution model (still worth to read) where you get tips how to set up your own custom attribution model in Google Analytics based on your current data and your own impressions, but the main thing is that a manually created model cannot change. A machine learning fueled system will always optimize your model and that’s a long-term deal breaker when it comes to precision in marketing planning.
Google Attribution gathers data from AdWords, DoubleClick and Analytics, analyzes their performance in their multichannel, multidevice universe, analyzing the main patterns of traffic that leads to conversion and the ones that not, then sends the results automatically back to take actions easily.
This method replaces the old school last click attribution with data-driven algorithmic approach. With that, Attribution aims to determine the amount of budget that each of your marketing channels will need to work as keen as possible. With that analyzation, Attribution will be able to:
* Optimize your budget, campaign CPC, CPA, cost efficiency
* Understand and plan a better marketing mix for your campaign which will result in a better user experience on every touchpoint
Those statements do worth a try, right? The future is simplified data collection, automatized performance analyzation, and predictive outcome. That is what Google wants to achieve in short time.
Sounds good but you have to wait…
Even if you are fired up to start using Attribution, the sad part of the story is that Attribution is still in beta so you have to wait a bit until it goes live for everybody.
According to Google’s announcement, you won’t have to wait long as they’re planning to go live from Beta with the official version within a few months.
Originally published at www.yusp.com.