In our last post we ended off with our attribution worksheet above filled out. Looks great doesn’t it? Now comes the hard work. Where do you spend more money? Where do you spend more time?
Some looking at the above sheet some might say spend more money and time on ebooks (campaigns 7 & 8) or spend even more on the conference (campaign 3), which are logical and Solid answers. I ask myself first, can we scale the conference campaigns and grow it into a power house. The super long tail of conferences is no joking matter. Conferences are the long game and you shouldn’t join if you’re not willing to invest.
I’d look to put my money and time into product launch (campaign 9). The reason is the costs are low to start, there is some early traction across last-touch, assisted conversions and even LNDC. If people do buy better versions of themselves then we can build a great long-term campaign around a feature that helps customers become better versions of themselves. Outside of saving them time and money of course.
Every brand and company will be different and you’ll have to play with your worksheet and test out theories. However, for most brands, if you focus on widening those who know about you through ebooks & conference(s) and get people to convert because of your features & you make them rock. You’re on solid ground.
Last week I setup a new AdWords account for a two-sided market site focused on aged care for seniors. The client is based in London and has goals to spread across the UK in the long run. While setting up AdWords and going through my process, I got to AdWords extensions and more so the snippet extensions and paused.
I’ve been documenting my attribution modelling journey….
3 Questions To Ask Yourself About Multi-Channel Attribution
When Do You Use A Last Non-Direct Click Attribution Model?
The Journey To Multi-Channel Attribution
Multi-Channel Attribution That Goes Beyond Last Click
…as I try to figure out a model that works for startups. It’s not perfect, though it’s a starting point and good is certainly better than perfect so we can launch something and iterate as we go.
If you’re a startup and resources are scarce and you can’t get money to use an attribution vendor (yet), than we’re in the same boat and this post is for you. So today I want to share the framework I’ve started to work on and what shape it has taken. To build this framework I started by answering the 3 attribution questions in my last post.
Defining Success and our Attribution Window
Customer signing up for the service is our main KPI. However, I also look at people subscribing to the blog, downloading an ebook or whitepaper. The last two are tracked because maybe a campaign you thought would be for driving customer acquisition, is actually more suited for blog subscribers or getting people to download an ebook. If your company offered webinars or product demos and you’ve those as goals (or events) in Google Analytics, than you can add that to the spreadsheet below.
I picked a 30 day attribution window for the cookie that sits on a customer’s computer. However, when I think about the effect of a campaign and how long to look at it after it launches. I picked 90 days because we don’t generally have long sales cycles and if someone takes longer than 90 days to convert, it becomes a mess to track. If I had more time I’d look at 180 days after a campaign launches to see its effect on the business. Maybe that will be round two for next year.
The spreadsheet below is what I created when I put everything together. I added in a threshold of $500 for campaigns we track in this birds eye view because anything under that limit doesn’t tend to have enough data to make a proper informed decision that doesn’t risk getting a false positive for you campaign and data. All data is fake below and just to give you ideas of what your could look like.
If you’re trying to figure out multi-channel attribution and all the different models you could choose from. Than you’re drowning in options and where to start from. While I’ve been mulling things over the last two months and making some headway, I’ve started with some basic questions.
How Will We Define Success?
I think trying to figure out what success means beyond the initial campaign is import. Success can’t be defined within a campaign launch window. Many potential customers may start their journey with your brand with this campaign… if it’s the starting point and not the end point where they buy. Than you’ve to understand how that campaign can help grow your business and if you’ve to put more money into its success.
As I wrote last month, I’m starting to think about attribution at work. I’m doing this because we’re trying to figure out how to judge the success of a campaign we launch. I’ve already written about the 5 different multi-channel attribution models and what makes each one different. As I’ve started down this journey though, I’ve came across one more model that’s interesting and promising: Last Non-Direct Click
This takes all your conversions that show up under “Direct” traffic in Google Analytics (GA) and looks at the second last click before that conversion happened and resigns it to that channel in GA. Many customers will come to your site through a campaign or a landing page and then bounce off your site and or look at other pages on your site. When that happens, those customers will then become a “Direct” channel customer because going from a sub-domain to your main site domain will cause them to get reclassified in Google Analytics.