Digital travel summit channel attribution 2014 04-01
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Algorithmic marketing channel attribution: why it's important, who is doing it, how it will change your business and how to decide what method is right for you.
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Digital travel summit channel attribution 2014 04-01
- 1. C O N F I D E N T I A L Marketing Channel Attribution Modeling To Improve Conversion Rates Jonathan Isernhagen Digital Travel Summit Day 1 Digital Travel Summit 4/1/2014
- 2. C O N F I D E N T I A L Agenda 1) Marketers’ mission 2) Calculating channel ROI a) spend b) VCM 3) Attribution a) algorithmic i. data assembly ii. types of models b) arbitrary 4) Options for action jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 3. C O N F I D E N T I A L CEO’s/Our duty to the (publically-traded) company • Maximize brand awareness/sentiment? • Maximize client loyalty? • Maximize co-worker satisfaction? • Drive traffic to the site? • Maximize shopper movement down the funnel? • Maximize transaction volumes? • Maximize shareholder value? • Maximize individual channel ROI? • “Give back" to the community through charitable actions? jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 4. C O N F I D E N T I A L Example: Apple, Inc. “Apple's Board of Directors oversees the Chief Executive Officer and other senior management in the competent and ethical operation of Apple on a day-to-day basis and assures that the long-term interests of shareholders are being served. jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen Source: http://investor.apple.com/governance.cfm
- 5. C O N F I D E N T I A L Increase spending until $1 out brings $1 back… ….spend-spend-spend-spend-spend-stop jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 6. C O N F I D E N T I A L …which is the point at which incremental ROI = 0% - 6 - ROI = (VCM – Spend) Spend Abbreviation Term Definition ROI Return on Investment Indicator of investment profitability. Positive = good. VCM Variable Contribution Margin The amount of profit driven by a given transaction. Spend Channel Spend The amount spent driving traffic to the site during the period in question Calculated over a specified time period of investment and return. jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 7. C O N F I D E N T I A L Agenda 1) Marketers’ mission 2) Calculating channel ROI a) spend b) VCM 3) Attribution a) algorithmic i. data assembly ii. types of models b) arbitrary 4) Options for action jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 8. C O N F I D E N T I A L ROI = (VCM – Spend) Spend Spend - 8 - Which spend do you include? jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 9. C O N F I D E N T I A L Marketing ≈ Farming 1) Seed = impressions 2) Transactions = fruit - 9 - …but marketers plant & harvest constantly.
- 10. C O N F I D E N T I A L
- 11. C O N F I D E N T I A L Variable Contribution Margin (“VCM”) - 11 - ROI = (VCM – Spend) Spend 1) What is the value of each transaction? 2) Which channels deserve credit for which transactions? jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 12. C O N F I D E N T I A L VCM = Transaction revenue - variable non-marketing expenses: • Revenue: – Supplier Commissions; – GDS incentives; – Overrides (lumpy: average/booking must be assumed) – Media (not transaction-driven, but has to be modeled in somewhere) – Attached bookings / Lifetime value: try to gauge value without double-counting • Expenses: – Website hosting/capacity costs – Data processing expenses – Other expenses which vary by transaction or site activity volume - 12 - jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 13. C O N F I D E N T I A L Which marketing treatment(s) triggered the purchase? "Half the money I spend on advertising is wasted; the trouble is, I don't know which half.“ -John Wanamaker Father of Modern Advertising jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 14. C O N F I D E N T I A L “Hard to Know” ≠ “Random” We may not find the correct answer, but the answer does exist. jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 15. C O N F I D E N T I A L Google Analytics attribution options Google offers several attribution mechanisms out of the box Choosing the wrong model will have consequences. jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 16. C O N F I D E N T I A L How badly do you want to know? Raylan: You'll pay to find that out. Boyd: What are you packing?
- 17. C O N F I D E N T I A L Choosing your attribution strategy Do you want/need true attribution*? Do you have data guys? Do they have bandwidth for this? Yes No No Use your site metric solution’s attribution Yes Yes Hire a vendor Can you access your data? Yes No *Do you have: 1) Large enough budget? 2) Multiple channels? 3) Belief in ROI “knowability?” DIY No jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 18. C O N F I D E N T I A L Agenda 1) Marketers’ mission 2) Calculating channel ROI a) spend b) VCM 3) Attribution a) algorithmic i. data assembly ii. types of models b) arbitrary 4) Options for action jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 19. C O N F I D E N T I A L • Sends • Opens Collecting the necessary data Analysis space • Clicks • Visitors • Transactions • VCM • Media impressions Site metrics tool Back office system • Channel-specific phone #s Email service provider Call Center IVR • Impressions • Clicks • Spend Display ad server e.g. SAS, Revolution Analytics, SPSS, Teradata Warehouse Miner SEM bid management tool • Impressions • Clicks • Spend • GRPs • Spend Television plan • Impressions • Clicks • Spend Meta search feeds Spend Manual spend entry table
- 20. C O N F I D E N T I A L Connecting the necessary data Transactions Profiles Customers Sessions ∞ 1∞ 1 Clicks:TransactionsClicks ∞ 11 ∞ ∞ 1∞ 1 Calls Sends Opens ∞ 1 ∞ 1 Email IVR GRPs TV plan Impressions Ad server Impressions ∞ 1 ∞ 1 ∞ 1 Back officeSite monitoring tool CRM system 1 ∞ jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 21. C O N F I D E N T I A L Profile deduplication is crucial Profiles Customers∞ 1 CRM system jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen 1) App registration information tied to desktop profile 2) Logged-in customer information on multiple devices 3) E-mails sent to same address opened on multiple devices 4) Third-party services with network visibility
- 22. C O N F I D E N T I A L Impressions are also important This example overcredits impressions (excludes other channels) but it gives some idea of the sub-surface portion of the impressions iceberg.
- 23. C O N F I D E N T I A L Forrester 2012Q2 survey of attribution vendors jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 24. C O N F I D E N T I A L Algorithmic attribution per Visual IQ: Top Down (MMO) & Bottom Up (Fractional Attribution) 24 SUMMARY LEVEL DATA USER LEVEL DATA CHANNELS Offline + digital cross channel Digital media channels ROLE Strategic: Optimize spend across channels Tactical: Generates granular media recommendations OUTPUT Cross channel insight Full fractional attribution CAPTURES Seasonality and external factors Interplay between digital touch point and channels PREDICTABLE GRANULARITY Conversions at aggregate level Propensity to convert at user level jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 25. C O N F I D E N T I A L “Given all the history we know, how likely is this shopper to convert soon?” Datasong answers with a 2-stage model: -Are Brand shoppers (BSEM, BSEO, DTI) likely to book? Yes -Did your last TV spot cause their brand loyalty? Maybe Algorithmic attribution per DataSong: Survival Modeling Model 2 Accuracy 81% Model 1 Accuracy 68% 0 0.5 1 0 0.5 1 NonConverters Converters 0 0.5 1 0 0.5 1 NonConverters Converters jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 26. C O N F I D E N T I A L Algorithmic attribution per DataSong: Survival Modeling 1) Axes show the time since last channel exposure 2) Dots represent converters vs. nonConverters 3) Orange line represents the relationship between 2 variables, e.g.: a) time since last email and b) time since last affiliate visit 4) Responders: everyone above the line. We count the folks above the line and see what our accuracy is 5) Attribution: once satisfied with a model(s), we’d: a) take a given order, b) see the time since last email and affiliate and based on the timing, and; c) where we are on the orange line, so; d) we have a means to allocate which was more causal. 0 0.5 1 0 0.2 0.4 0.6 0.8 1 NonConverters Converters jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 27. C O N F I D E N T I A L Survival Modeling: DIY Recommended by one of our PhD statisticians. “SAS usage is not necessary.” jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 28. C O N F I D E N T I A L- 28 - Algorithmic attribution per Google: Interaction Method (“Shapley value”) Brand SEM Email 2% Conversion Brand SEM Email 3% Conversion Every combination (“coalition”) of clicks is tested. “How important is each player to the overall cooperation?” http://en.wikipedia.org/wiki/Shapley_value jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen Display
- 29. C O N F I D E N T I A L Running the process 1) For each site visitor a) Assemble visit history b) Create variables to represent: i. Channel impressions ii. Channel clicks iii.Past purchases 2) Regress or use machine learning algorithm a) Ascertain which channel touches predict booking b) Give VCM credit to causal channels 3) Calculate ROI a) Use each channel’s VCM and spend b) Where ROI is positive, spend up c) Where ROI is negative, cut spend or change tactics jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 30. C O N F I D E N T I A L Output Channel* Desktop Tablet Mobile Brand 20% Brand SEM 62% 51% 38% Display -5% -12% -7% Display - Retargeting 26% 25% 29% Email 250% Meta search 18% 22% 10% Non-brand SEM -30% -18% -40% SEO 500% 520% 390% Social media -5% -15% 15% - 30 - *of impression/click, not necessarily of consumer conversion jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 31. C O N F I D E N T I A L Agenda 1) Marketers’ mission 2) Calculating channel ROI a) spend b) VCM 3) Attribution a) algorithmic i. data assembly ii. types of models b) arbitrary 4) Options for action jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 32. C O N F I D E N T I A L “Round up all the clicks!” • Offline bookings • Multiple profile activity • Impressions (Display or Television/Radio/etc) • Cleared-cookie clicks - 32 - Leaves out: jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 33. C O N F I D E N T I A L 55% of shoppers clear cookies every 3 months Cookie clearing is a serious problem causing the true impact of online channels to be massively understated. “The Consumer Side of Analytics” - Forrester/Jupiter Research 2009 jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 34. C O N F I D E N T I A L Bracketing 1) Assume for the sake of argument that one of the site tool’s attribution schemes reflects reality, but you don’t know which one. 2) Find (or create) the scheme that is most and least generous to digital channels. a) Last click: usually the least generous to digital channels b) 3-tier: a scheme we created to favor NBSEM and Meta/TravelSearch 3) Assume that the true attribution (& ROI) lies between these extremes 4) Adjust spend and see which scheme better predicts reality. jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 35. C O N F I D E N T I A L Tactical decision-making Channel Easy decisions Hard decisions Tactics Brand Advertising heavily in target-rich geographies before/during periods of high demand. • national vs. regional • constant vs. bursts • more air time vs fresh creative • A/B test across “identical” regions, observe rise in brand transactions. • Get Comscore to measure brand awareness/intent after broadcast. SEM Spending to capacity on Brand SEM Whether to spend up on marginal NBSEM keywords A/B test whether ↓ BSEM spend is offset by ↑ BSEO volume Email Emailing up to 1x/week, hitting each site visitor with the message he or she is most likely to convert from. sending messages with exceptional deals. • Whether to upgrade to a rules-base ESP system. • Whether to saturation- bomb your e-mail list. • Whether to push a loss- leading promo code. Split the list, quantify lifetime value, A/B test: • Unsubscribe impact of saturation bombing • Uplift impact of offer personalization. • Long-term behavior of code recipients jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 36. C O N F I D E N T I A L Take-away lessons - 36 - 1) Be intentional about your attribution decisions, and creative about how to test your assumptions. 2) For top competitors in each vertical, the question is no longer “should we do algorithmic attribution?” but rather “How can we operationalize our attribution model?” 3) If your data aren’t yet in shape to support attribution & other ad hoc analyses, get that project underway. jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 37. C O N F I D E N T I A L Attribution options - vendors Provider Method Cost Timing Comments 1x monthly Adobe Attribution model Varies - 4-10 wks Consulting arm willing to address attribution questions as one-off modeling projects. Adometry Econometric model Low High 12 wks Forrester-acclaimed industry co-leader. Highly display-focused. Datasong Attribution model w/ Customer scoring Med Med 6 wks Comprehensive model which pulls in both online and offline spend impacts. Med Per-customer demand curve to predict the expected return on every campaign Google Analytics Interactions model - - now Has delivered digital-only channel interactions model to beta clients. Gauge LLC Simple regression High - 10 wks General consulting analysts, not on the efficient frontier for this deliverable. Kenshoo Unknown algorithm - Med 4 wks Primarily targeted towards SEM spend, but can be expanded to comprise other digital channels Visual IQ Econometric and Attribution models High - 4-8 wks Econometric model. Offers cross-channel allocation guidance, including offline spend. Med- High - 3-6 wks Attribution model. Offers within-channel campaign- level spend guidance. No offline.
- 38. C O N F I D E N T I A L Funnelism doesn’t drive investment decisions jonathan.isernhagen@travelocity.com @jon_isernhagen www.linkedin.com/in/isernhagen
- 39. C O N F I D E N T I A L Facebook visitor tracking Visitor action Volume Trackable Useful Ad link click Small Yes No Sponsored news feed click Small Yes No Organic click Small Yes No Ad impression Large Yes Yes Sponsored news impression Large No Yes Organic impression Large No Yes
Editor's Notes
- Hi, my name is Jonathan Isernhagen and I do marketing analytics for Travelocity. I’ve spent much of the past year learning about channel attribution, and would like to share some of what I’ve learned.
- This is a crazy, dynamic space and there are lots of different lenses through which to view it, any one of which may have nothing to do with the bottom line, So I want to start from Square One, with the CEO’s mission and what we as marketers do to support it.That leads us to talk about ROI, which in turn takes us to attributionI also want to mention some things you can do if you don’t have the resources for algorithmic attribution, then;Close with some actionable next steps.
- Non-rhetorical question: what is the duty of the CEO?what is our duty as employees of a publically-traded company?The owner of a privately-held company is free to assign whatever tasks he or she can legally ask you to do, unrelated to the health of the business. They can involve golf or groceries. But according to the articles of incorporation of nearly every C corporation in the United States, the CEO is legally obligated to maximize the value of shareholders’ stock.
- As an example, here’s the first paragraph of the governance section of the first page of Apple’s investor relation site. The CEO who fails to do his or her best to maximize the value of the company’s shares of stock is literally breaking the law. And all of us work for the CEO.
- The way Marketing supports the CEO in this effort is by spending in each marketing channel up to the point where one additional dollar of spend nets us exactly one more dollar of incremental profit. In economic terms this is the point where marginal cost equals marginal revenue.
- In practical terms, this is the point for each channel where the incremental ROI flips negative. In order to calculate ROI for a channel, we need to know the spend on that channel and the VCM this spend caused.
- So let’s treat each of these two components separately.
- Spend can be read straight off the invoice.
- 1) This works fine if you’re spending at steady state. 2) Marketing is a lot like farming in that you are scattering impressions and harvesting transactions. 3) It is different in that there is no winter. When you’re always planting, it’s not easy to see which impressions generated which bookings.
- By way of illustration, let’s say you’re spending $X on marketing every month and making about that same amount in profit.You know that some of the transactions you booked in March were propelled by marketing expenditures in February, January or before, but so long as you’re spending the same amount each month you don’t have to worry about this spillover.However:if you spent less in March than in previous months, your ROI will look artificially positive. This is what farmers call “eating your seed corn.”;likewise, if you spent more in March than in previous months, your ROI will look artificially negative.
- VCM is much harder to determine. You have to:determine the variable contribution per each transaction, which is an accounting exercise, and also;which channels deserve the credit.
- Variable contribution margin is Revenue minus non-marketing expenses:On the Revenue side, you want to include all the goodness a booking drives.On the Expense side, include all non-marketing variable costs associated with completing a transaction.
- Part 2 of the VCM exercise requires us to guess which marketing treatments caused each purchase, which is an exercise in customer psychiatry. Hard without an MRI.
- 1) But this does not let us odd the hook, though;2) Because this is difficult, most people throw their hands up and make do with arbitrary approximations. 3) Depending on the size of your marketing budget, this may be the best thing to do.
- What’s the downside of that?1) Well, Google Analytics offers several attribution—I wouldn’t call them models, but, schemes—that you can use to distribute transaction credit among your channels.2) Comparing the difference between GA’s most and least-generous attribution model for each channel for a random period of recent Travelocity activity, we can see there’s quite a variation. 3) If you decide your spend based on the wrong model, you can really miss the mark.
- But algorithmic attribution modeling is difficult and expensive, so you have to ask yourself whether you’re at greater risk from:1) spending marketing dollars wrong, or;2) spending so much on attribution that you have nothing left to spend on marketing.
- I’ve tried to map out your decision tree:Question #1 is: do you really need to know your true attribution?Are you spending at least $10M and preferably $20M/year on marketing? Are you distributing it across multiple channels?Do you believe this stuff is knowable, and is your organization flexible enough to actually shift spend around?The next question is: Can you access your data in a form that lends itself to modeling? If you say “No” to any of these, then use the attribution available from your site metric product. VS, SiteCat and GA all have them.If it’s been “yesses” up til now, your next question is whether you have the data guy in-house to do the modeling, and whether he or she has bandwidth.if either of these are “no”s, then you should think about hiring an attribution model vendor.
- What’s the downside of that?
- ….whoever does the modeling will need to pull all available data into a SAS or R or other heavy analytical workspace.1) Clicks and Visitors and maybe the transactions should be pulled from your site metrics tool;2) Your e-mail tool should be able to export sends, opens and clicks at an individual visitor level;3) If your site displays a different unique telephone number by channel, that should come in;4) If you’re using an ad server like DoubleClick, you should be able to get impressions;5) Your SEM bid management tool should be able to furnish impressions clicks and spend6) Depending on their level of sophistication, meta search partners may be able to furnish impressions, clicks and spend via a feed or API.7) Your back office system should be the resource of choice for bookings, VCM and the amount you earn displaying media on your own site8) Pulling actual television GRPs is a major hassle. You can get by using your Television plan as an approximation.9) For any spend that doesn’t come to you automatically you’ll need to maintain a table that includes, at minimum, your amount of spend by day by channel and targeted LOB.
- This all has to be brought together in a way that connects customer behavior to what they saw, so you can try to tie cause to effect.The hardest part of this is deduplicating customer profiles. Several data-handling companies specialize in this activity. Blue Kai, AgileOne and Compete all claim to do this well.
- This all has to be brought together in a way that connects customer behavior to what they saw, so you can try to tie cause to effect.The hardest part of this is deduplicating customer profiles. Several data-handling companies specialize in this activity. Blue Kai, AgileOne and Compete all claim to do this well.
- http://techcrunch.com/2012/11/20/facebook-view-tags-ads/SocialCode ran an ad campaign for a consumer packaged good company looking to get people to redeem an offer. Thanks to View Tags, it found that of the total 5,924 people who redeemed the offer, 5,127 had only viewed the advertisement, compared to 797 users who clicked through to the offer directly from the ad.
- If you want to have someone else do the data assembly and modeling for you, there are lots of companies out there willing to do it. We used the Forrester 2012 Q2 survey of attribution providers as our starting point to find a partner capable of handling this analytical problem. We were highly impressed by Visual IQ but ended up going with a new company called Upstream (now Datasong’) which had the best combination of capabilities and price.
- Visual IQ is the self-described Cadillac of the attribution marketplace
- Another method, used by the vendor we chose for a pilot test, uses a technique lifted from the medical world called survival modeling. How likely is a given customer to book given everything else that’s happened?The time proximity of bookings to channel clicks is noted, as well as other things like seasonality and repeat purchase history.DTI, SEM and SEO are treated as behaviors instead of channels. Typing your brand name is highly correlated to booking. Is TV advertisement highly correlated to typing your brand name? Maybe not.Model is accountable to a recorded outcome: response
- In this chart:The axes are the time since the last exposure to each of the two channels under consideration.The dots represent converters vs. NonConvertersThe orange line represents the relationship between 2 variables (say time since last email and time since last affiliate visit)Everyone above the line is considered a responder. We count the folks above the line and see what our accuracy itThis curved version of the graph shows a more complex model and relationship between the 2 variables. It has a higher accuracyOnce we’re satisfied with a model(s), we’d take a given order, see the time since last email and affiliate and based on the timing, and where we are on the orange line, we have a means to allocate which was more causal.
- For those of you with stats people who would like to try survival modeling, our PhD stats guy recommended this book, which he says is written such that SAS usage/knowledge is not needed.
- On of the data-driven attribution methods of which I’m aware is being beta tested by clients of Google. Look at all the clickstreams, not just those ending up with a booking;Compare conversion when a click is present in a certain sequence, then when it’s absent. A click could pull conversion backwards.This method attributes channel credit and picks up on the importance of sequence and timing.
- After you run through this process, you’ll have a positive or negative channel ROI for each of your channel investments for the period of time you measureWhere ROI is positive, increase your investment until you see a decline.Where ROI is negative, back spend or change tactics.
- Our finished product will look something like this. We should be able to calculate an individual ROI for every intersection of a marketing channel and device type for which we can make an individual spend decision.
- But, if you’re moving forward with your web monitoring tool’s default attribution scheme, how should you proceed?
- To start with, you have to be skeptical and go in with your eyes wide open, because your solution will almost certainly leave out:Offline bookingsDuplicate clicks from multiple profilesDisplay and Television impressionsCleared-cookie clicksMost web people I mention the cookie problem to say “that’s only about 3-4%.”
- As of 2009, according to Forrester and Jupiter Research:11% of women and 18% of men clear their cookies every day;19% of women and 25% of men clear their cookies once per week.I have a theory about why men, especially, are clearing their cookies so often.Regardless, you can see how this will tend to eliminate a lot of digital clicks from the history and cause direct clicks to be overcredited.
- Assume for the sake of argument that one of your site tool’s attribution schemes reflects reality.Find the schemes that are most extreme, e.g. the most and least generous to digital.Adjust your spend, monitor systemwide marketing ROI, and note which scheme seems to have predicted reality.
- On a last-any-click basis, brand advertising always looks like the right thing to do. It tends to get overcredited. cookie-clearers automatically go to Brand because their click history is truncated or completely gone.factors like seasonality and long-term brand loyalty born in previous periods get discounted.
- Our key takeaways:If you have a large marketing budget across multiple channels and are accepting somebody’s arbitrary out-of-the-box channel attribution, you’re wasting marketing money.Lots of vendors, even on the edge of the analytics space, are offering retailers attribution help.Big Data has made billion-row analytical modeling much more affordable and improved the quality of modeling at any given price.
- This sheet shows all of the vendors we evaluated earlier this year. I’m happy to discuss our impressions of them during the panel or after the session.
- I am not a big believer in what I would call “funnelism,” which I see as a substitute for rigorous attribution modeling.During all the talk you hear about:path to conversion channel interdependency, and;“contribution to conversion” or “micro-conversions”…it’s important to remember that your channel spend is an investment decision, like purchasing a stock or bond. 2) You put a dollar in and you want it to produce more than a dollar in incremental profit. 3) We talk about other measures of channel effectiveness when we can’t figure out ROI.