IAB Attribution White Paper
Giving credit where credit is due to the right digital channel is increasingly complex in a multi device world. However to maximise the return from the marketing investment, it is critical to know how each of the channels work to generate response. Traditionally credit is given according to the 'last click wins' principle, however it is widely recognised that this is likely to be inaccurate as it doesn't account for the media that the consumer was exposed to first.
The IAB have published a whitepaper on digital attribution and one of our Directors, Matt Wragg, has been a key contributor. The paper outlines Matts thoughts on why last click attribution is an overly simplistic approach to attribution and why different approaches such as touchpoint and pathway analysis have their benefits.
In summary, Matt gives his top tips to navigate the complexity of a digital attribution analysis:
- Data is King - where possible always use 100% (or as close as possible) of your digital data within your attribution solution. The benefits tend to outweigh the additional time and costs.
- Different models = different results - two main attribution approaches exist: Touch-point and Pathway analysis. Each will give a different level of detail into the performance of each channel.
- Man vs Machine - understand whether the methodology is algorithmic or rules based. Each have different levels of engagement in terms of the input and assumptions upon which it is based.
- Digital Media isn't the only thing that drives digital sales - net attribution integrates econometric modelling, fusing top-down analytics with accurate bottom up digital attribution. This then takes into account other factors that are significant drivers of sales such as the weather, brand equity and offline channels.
- Digital media is always on - so should analysis and optimisation - solutions that automate data enable real time analysis and optimisation.