Attribution is one of the biggest challenges that Marketers have faced in recent years. It is estimated that 66% of companies undertake some form of attribution and analyse their results. In light of this Google have launched Google Attribution, which it hopes will simplify the complex problem of multi-channel and multi-device attribution.
Existing attribution models, Google claims, have had an array of complications and drawbacks. Firstly, they can be difficult to set up, making them less accessible to every marketer. Attribution models have also been accused of losing track of the customer journey when people switch between devices. This makes it harder to gain accurate and accountable results.
This is where Google comes in. Its new attribution model brings together data from Google Analytics, AdWords and Double-Click search to give Marketers a greater understanding of the customer journey. By combining data from all of these platforms, Google hopes that it will be able to provide more accurate and precise results.
Where previous attribution systems focused on the first and last click impact, this new attribution model recognises how people find your business and gives credit to each touchpoint along the way. Its machine learning compares the paths of customers that purchase with those that don’t so that the results you see accurately reflect your business.
By examining the customer journey, Google Attribution aims to help marketers to re-align their strategies for more effective ROI (Return on Investment). It helps you to see which aspects of your marketing strategy are providing the best results so that you know which should be optimised. Separating the influential touchpoints from those that aren’t really benefiting you.
Google also aims to tackle cross-device tracking which has always been notoriously difficult for Marketers. It is able to track offline sales more efficiently too. Now, you don’t lose your track of your customers journey from desktop to mobile meaning that your data is more precise.
Although some Marketers have accused Google of trying to become a one-stop shop for attribution and believe that the industry is becoming too dependent on the platform, it is undeniable that Google Attribution has made a previously complex and troubled area of the industry easily accessible to all. While the sheer volume of data creates concerns for privacy, the face of attribution has been revolutionised yet again for marketers.Digital & Social Articles on Business 2 Community