Today we will discuss one of the heavyweights of this new suite: Google Attribution 360.
Attribution 360 promises to be a turning point in digital marketing and become the tool that will help drive success of marketeers. Its aim is to help you evaluate the performance of different campaigns – both online and offline – and all contact points (when and where the ad appears, etc.) throughout the customer journey. In this way, advertisers can discover and identify the correlation between acquisition and media activity, such as television, or even external factors such as weather phenomena.
One of the main advantages of Attribution 360 is that it not only allows measurement through various channels, but also of different devices, obtaining a single multi-channel and multi-device funnel.
The tool has an unlimited number of preliminary steps to conversion within 30 days compared to 4 steps now showing Google Analytics.
Strengths: Data visualization and analysis of “path to purchase”.
Attribution 360 also takes into account the position of the channels in the path, rather than just the participation. It also offers a new powerful data visualisation capability that allows reporting on different channels and media, with the ability to propose create media and budgetary plans, all within the tool itself.
The data-based attribution modelling in this tool means better investment decisions and deeper understanding of the real contribution (role and weight) of each of the channels in your digital strategy. Knowing what action opens the conversion cycle, what actions influence the user journey and what action closes the cycle facilitates analysis of all interactions en route, not simply attributing everything to the last click.
Successful attribution modelling ultimately allows you to know all the “paths to purchase” that a user follows before converting online, that is, what happens both within our website and once the user has left the site.
However, the use of Google tools such as this one really come into their own when used in conjunction with Google Analytics Premium. This combination means that you can fully integrate both systems, with the ability to use their respective data to develop and optimise your digital marketing strategies, gain better insight and have dedicated support from Google.
3 Key tools of Attribution 360
– Digital Attribution: combines and interprets the different data sources using algorithmic models based on data for optimising your digital strategy. The goal is to help discover the credit associated with each point of contact within the customer journey.
– Marketing Mix Model (MMM): identifies the impact and performance of both online and offline actions when sales are made. It also helps know what is the revenue and impact of each channel through the use of econometric models and allows us to evaluate which external factors (economic, seasonal or competitor actions) impact marketing efforts.
– TV Attribution: as the lines between traditional media devices and orientated devices becoming increasingly blurred as witnessed through the meteoric rise of smart TVs, it is crucial that attribution models account for this relatively new channel for accessing online content. For this very reason, Attribution 360 has the capacity to differentiate and integrate TV data.
TV Attribution – Main features:
This tool is designed to measure the impact of both campaigns and digital television appearances in order to discover the correlation of both variables in terms of driving traffic to your site.
In other words, TV Attribution lets us measure the impact of TV on visits and searches by analysing, by minute, the impact of the transmission, revealing spikes in traffic attributable to the TV campaign. In this way, we can understand the corresponding penetration of a given campaign, the most effective time slots and networks. This helps us understand, optimise and boost the performance of offline marketing activity in conjunction with online strategies.
The process is surprisingly simple. Every weekend your media plan is uploaded into the tool and this is used to measure the impact made by the ad or ads in question. It is important to stress that this only gives us insights into the reach of the ads, not on conversions, and this part of the tool is based around measuring this metric.
Attribution 360 will allow us, among other things, to segment impact by device, measure keywords that have been used and see what click share should be attributed to TV after an impression. In other words, we can visualize in one report “TV impressions” and “click share” or display tables for each TV channel, integrating media data with the results.
Case Study: TV Attribution Benefits for Ecommerce
If you have a travel and leisure ecommerce site, which just announced a campaign on TV domestic destinations in summer, with Attribution TV 360 we could see the impact of the advertisements across various emission sources. We would also have access to data from search queries or keywords associated with the ad (Ibiza, the Balearic Islands, Spain etc …) with visits and conversion data.
In addition, the tool would show the digital response from TV campaigns segmented by source, including conversion rates, sales or calls, reflecting the daily, time-parted and seasonal trends.
Currently there is no date for the availability of Attribution 360 as it is in beta, but soon Google will begin offering demos to some of its enterprise customers so they can assess the product as a stand-alone and integrated solution. Stay tuned and be the first to hear of any developments
And what do you think of this new tool Attribution within the suite of Google Analytics? Do you think that is one of the strongest legs of the new offering from Google for Premium?