This post was originally published by RSO Consulting and can be found here.
Last-click attribution is so yesterday, but the new Google Attribution tool is about to take you beyond the data-driven attribution of today’s AdWords and Analytics platforms. Let’s dive right in and take a look at what marketers can expect from this technology.
Single Source of Data
Google already provides attribution tools for AdWords and DoubleClick Search, yet both platforms use the last-click attribution model by default, which means all the credit goes to the last click that occurred before the conversion. As marketers know, the customer journey begins long before that final touch, and purchases are likely influenced by several earlier interactions.
In order to see what precedes last-click data, AdWords and DoubleClick Search users can build alternate models or link their accounts to Google Analytics. This integration is valuable because it offers reporting across multiple channels and an attribution model comparison tool – giving marketers a more detailed view into a customer’s path through the funnel.
Yet even this amount of data isn’t always enough, especially as the buyer journey becomes more fragmented. The Google Attribution tool addresses these challenges by pulling data from all three platforms – AdWords, Analytics, and DoubleClick Search – into a single platform (no tagging required), where conversion actions can be seen across channels and devices. For marketers, this means incredibly granular data for more precise attribution modeling and more informed choices when it comes to bidding.
Artificial Intelligence Means Real Competition
One of the advantages of using Google Attribution is its machine learning capabilities. As it collects more data over time, the tool can be used to predict the likelihood of an outcome when exposed to a certain sequence of messages. The data can then feed into AdWords or DoubleClick Search to inform bidding. For marketers, this means the opportunity to make better decisions when it comes to not only messaging but also spending. Knowing which communication is most effective can help marketers adjust their spend accordingly, which offers a real competitive advantage. Yet, as we all know, the competition grows with the number of users integrating the technology.
That may be some time, however. In order to be eligible for the Google Attribution tool, your data needs to include at least 600 conversions within a 30-day period. That’s simply too ambitious for some users at this point, yet it holds promises for the future.
If you’re one of those businesses that are fortunate enough to be eligible, however, hang on to your seats – Google Attribution is about to blow your artificial mind.