Ready … Set … Attribution?
January 9, 2018 -
Napkyn is taking our known strength at marketing analysis in Google Analytics to the next level with the formal creation of a comprehensive attribution practice and we want to welcome you along for the ride. It’s likely that you’ve heard the buzzword “attribution” swirling around during marketing meetings, conferences, or across the blogosphere. But what does it mean? How does it work? Should your organization be using it? How would you go about implementing attribution? I’m sure these are just a few of the questions you and your team have on the topic. Napkyn and I, an experienced practitioner in the dark art of attribution, are here to help guide you with an upcoming blog series. Subscribe to receive updates on this series here or through the banner at the top of this post.
According to IAB, “In marketing, attribution is the identification of a set of user actions (“events” or “touchpoints”) that contribute in some manner to a desired outcome, and then the assignment of a value to each of these events.”
Who Am I? And Why Am I Qualified to Guide You Through Attribution?
First things first, my name is Michelle Matranga and I am the new Program Manager, Marketing Analytics, and Senior Practice Lead for Attribution here at Napkyn. Before joining Napkyn, I worked for Adometry and Google as a Senior Analytical Lead on the Google Attribution offering. I’ve onboarded countless enterprise-level customers onto the solution, trained colleagues and clients on the tools, and been a trusted adviser for those clients and my teams on how to best utilize attribution. Together with my clients, I’ve helped build their analytics and attribution practices from the ground up. After Google, I was the Sr Director of Analytics and Attribution at a hotel booking site. Prior to my experience in marketing analytics, I focused on the planning, execution, and measurement of digital media on both the agency and vendor side. This helps inform how I speak to marketing insights and recommendations – aka put all that performance data to good use.
First and foremost, you might be asking yourself why this will be important for your career and your company’s marketing. There is currently an industry shift underway toward using attribution as the gold standard for digital marketing performance measurement. If they haven’t already, your leadership and/or clients will begin to ask a lot of questions about it – questions Napkyn can help prepare you for.
Market leaders across industries are already demanding attribution as part of their suite of marketing tools. This is in part because of Google’s product rollouts that feature attribution including:
- Attribution reporting within Google Analytics
- Attribution Free (Google Attribution) – estimated release period is Q1 (to Google that is Jan-March)
- Attribution 360 – estimated release date is Feb 1
How Does It Differ From What You’re Already Doing?
Attribution looks at the entire customer journey and calculates the contribution of each marketing touchpoint prior to purchase. Touchpoints encompass a range of interactions including seeing a display ad, watching a video, opening an email, engaging on social media, and clicking a paid search ad or a referral link. There are a variety of ways to calculate the weight of each touchpoint. I’ll be going into more detail on these differing attribution methodologies in upcoming posts.
Alright, But What’s the Point?
There are two ways to look at it:
- Improved Accuracy: Having visibility into your customer journey, and the right modeling across those journeys, means making more informed marketing decisions.
- Being On the Cutting Edge: Knowing how to properly wield attribution makes you look like a rockstar and takes your business’s marketing to the next level.
There are numerous use cases that we will delve into during the blog series. Here are a few to help you understand why attribution could be right for your organization:
- An improved return on investment for your marketing dollars
- A better understanding of your customers and their interactions with your marketing
- Less marketing waste
- The ability to accurately test and measure marketing buys against conversion performance.
OK, What Now?
To uplevel your skills, subscribe to our Attribution Blog Series and we will be your guide to creating an attribution practice as we roll out ours. Feel free to drop us a line. We’re happy to walk you through it.
Some of What You Can Expect From Napkyn’s Attribution Blog Series
- Ways Your Business Would Benefit from Attribution
- Preparing for Attribution
- Creating an Attribution Practice
- How Ready for Attribution are You (Really)?
- Attribution for Insights
- Attribution for Budget Optimization
- Maintaining and Governing Your Attribution Practice
- Official Launch of the Napkyn Attribution Practice