Improve Your Attribution Strategy and Keep Up With Your Customers

Are you an affiliate marketer looking to grow your search, affiliate marketing and attribution strategy? Do you want to drive consistent profitable sales growth for your business, and learn from the top online marketing experts?

Welcome to the Digital Strategy Insights podcast brought to you by All Inclusive Marketing, hosted by Sarah Bundy. Attribution tracking has changed dramatically for both brands and their affiliates, and for those who have kept pace with the changing landscape the rewards have been spectacular.

This week’s guest is Todd Crawford, the co-founder and VP of Impact Radius, a previous VP of business development at Digital Rivers and a specialist in guiding industry relations and strategic initiatives. He is also the proud winner of the Marketing Legend Award, which he won back in 2007.

Listen this week as your hosts discuss how to get the most of your affiliate marketing and attribution engagement, which platforms are the best for your business, and how to utilise them to their full potential.

 

Easy Peasey Attribution

Having a good hold on where your company stands with its attribution tracking and affiliate marketing is important in the digital marketing world. With Crawford being a household name in this field his advice is full of gems you can trust to help you with your attribution struggles. Affiliate marketing and attribution tracking is constantly changing and evolving, so if you want to keep up with your consumers demands and increase conversion it is important you jump in.

Do you have a company goal in mind with regards to attribution? If not, you need to. Being able to master attribution and successfully interpret data analysis will benefit your business. Fully understanding marketing touch points and the value they hold will ensure you keep up with demanding consumers and developments in technology.

 

Evolution is Key

Attribution is always evolving because consumers are demanding more. This means you need to keep on top of your affiliate marketing strategies and really understand how attribution affects you and your business. By having a clear goal and open dialogue with your third parties, agencies and marketing team means you will have a clear understanding of your attribution data. In this week’s podcast, Crawford will clear up common questions like:

  • Can you explain what attribution marketing is?
  • Why is attribution so important for my business?
  • Which elements of attribution tracking should I be paying most attention to?
  • Which click models should I focus on?
  • What best practices are there for attribution, and who needs to know?
  • Which is going to be the best platform for my business?
  • How is attribution evolving, what will it look like in 5 years?

These are questions even seasoned marketing pros want answering in order to boost their attribution tracking and affiliate marketing. Listening to all the advice Crawford has to offer will ensure you engage with your desired demographic and optimize your search and digital strategies through attribution.

Even the first baby steps with attribution marketing make a difference to your business. These wobbly steps are imperative to ensuring you and your business fully understand attribution changes and how they help your business. As your strategies develop, your attribution will become unique to you, which will in turn build a stronger relationship with customers and improve sales.

Do you want to optimize your attribution strategies, ensuring you reach out to the biggest audience you can? Are you tired of struggling to get to grips with attribution tracking? Get in touch with Todd Crawford at todd@impactradius.com, or visit their website at www.impactradius.com.

Invest 20 minutes now and learn how you can improve your performance with search, digital and attribution strategies with Sarah Bundy and Todd Crawford of Impact Radius. Want to reach out, engage, and convert new customers? Contact us at www.allinclusivemarketing.com or Facebook.com/trusttheexperts and Twitter @trusttheexperts.

Attribution Today: What Advertisers Need to Know

Attribution Tracking in Digital Marketing

Source: Adobe Attribution

Studying 11 different advertisers in the retail sector, here are some common “how to” best practices around attribution tracking strategy and execution:

 

Approaches:

  • Last click (still dominant)
  • Algorithmic
  • First click
  • Hybrid model

 

What’s included in the attribution model?

  1. Paid search/display
  2. Organic / non paid / social
  3. Affiliate / referral

 

Attribution timeframes commonly tracked:

  • 30 mins
  • Less than 6 hours
  • 7-24 hours
  • 25 hours – 7 days
  • 7-29 days
  • 30 days+

Only 8% of advertisers factor in viewability.

 

Attribution tracking has three parts:

  • Campaign management – tag management systems, ad servers, ad view-ability measurement.
  • Analytics – web analytics, attribution pure players (adclear, encore)
  • Consultants – agencies and management companies who interpret and manage this data effectively.

 

Alternative methods:

  • Second opinion (about 15% of advertisers use this)
  • A/B tests (about 28% of advertisers you this model)

Mobile came sooner than anticipated by most. It breaks the tracking continuums thus making it difficult or advertisers to accurately report user behaviour.

 

Here are a few additional thoughts:

  • Companies are used to last click models and find it hard to move away from the internal systems that support this. Companies are forced to build a business case to showcase the reason behind moving to a different model all together.
  • Companies struggle with fitting the advanced tracking technologies with older internal technology integrations. The change is accepted and needed, but time and cost for technical transition remains a barrier.
  • Companies need to understand that in order to remain competitive this change is inevitable. Gradual analysis per channel is the way most companies are dealing with this.
  • There seems to be a disconnect between theory and effective execution and real life comprehension of data. Affiliates have to prove their value which could make them earn less, but on the flip side, if they can prove their value, then they can earn more.
  • Unless you’re accurately testing the data and understanding it correctly, you’re taking a gut feeling guess from one channel and putting it into another channel. With the time commitment to proper attribution tracking, the guess work is removed and true ROI realized.
  • More effort needs to be put into AB testing affiliate sites and advertiser landing pages and campaigns.
  • Companies need to consider the differences in tracking mechanisms, such as the accuracy of cookie tracking, and what alternatives need to be considered.
  • Mobile tracking and desktop tracking are VERY different from each other and we need to consider the behavioural and technological changes to accurately track new buyer behaviour.
  • Even though both advertisers and publishers would benefit from transparency around attribution data, both affiliates and merchants tend to keep the information to themselves. This mindset will eventually need to shift if the affiliate industry is going to be successful long term.
  • How do we bring offline data into the mix? This is an ongoing challenge people are still trying to understand industry wide.

What are your thoughts on attribution tracking and affiliate/merchant participation in data sharing?

Tag Management and the 5 Gears of Marketing Velocity

This is a live blog post from the Online Marketing Summit (#OMSummit) – Presented by Erik Bratt , VP Marketing of Tealium

tag management 5 steps best practices

What are tags?

A “Tag” is a javascrip code that allows you to integrate third party serves into your digital platform.

The average enterprise web site has 14 different vendor tags!. Tags are a huge problem:

  • Costly, time-consuming to manage
  • Slows down website performance
  • Slows down marketing efficiency

 

Tag Proliferation – common types of tags:

  • Web analytics
  • Search marketing
  • Ad serviing
  • Affiliate marketing
  • Testing
  • Behavioral targeting
  • Etc
Tag Management allows the marketer to manage a tagging platform without having to go to IT. Check out Tealium Tag Management Platform.

 

The 5 Gears of Marketing Velocity

1. Increased Marketing Agility 
  • No waiting for IT dev cycles
  • Marketers control their own destiny
  • Launch more revenue – generating campaigns, faster
  • Enhance web presence through information
2. Reduce Costs
  • Save on valuable IT resources
  • JavaScript-trained web developers no longer required
3. Improved Site Performance 
  • Replace many tags with one
  • Employ tag best practices (conditional tag loading, slow tag killing, asynchronous tag loading)
  • As much as 50% increase in page load speed
  • One second delay in page load time = 7% loss in conversions (Aberdeen)
4. Lower Opportunity Costs
  • Tagging is non-strategic
  • IT is one of the most important in-house resources
  • IT has more important things to do than tagging
5. Work with the Best Vendors
  • Pick vendors based on ROI and fit
  • Don’t be locked into any one vendor
  • Use best of breed solutions for all your marketing needs (A/B test vendors)
Bonus One: Actionable Data Source! (The quest for clean actionable data) – DoubleClick, Omniture, Linkshare, ExactTarget, Fetchback, Etc.

Understanding Attribution 101

attribution tracking

Source: PMA Blog on Attribution Part 4: The Numbers

The conversation about who to attribute which sale to  in the online world is an ongoing one. It’s extremely complex and there are an incredible amount of variables to consider, not to mention how to understand of the data once it’s properly collected. Not only do we need to consider different affiliates (especially if you run your program on multiple networks) but also which marketing channel actually contributed to the final sale.

Do you reward an affiliate if it was your PPC ad that closed them? What if your email campaign or a facebook contest ultimately won the customer over, even if the affiliate was the reason they found out about you in the first place? How do you measure that? Do affiliates get the same amount of commission if two or three affiliates were involved in the sale? How do you split it up, since your margins are on the line?

There are so many questions and even the most experienced people in the industry are still trying to figure out how to properly manage attribution. That being said, it’s at least important to understand what it is and some of the elements that impact it.

Lisa Picarille of the Performance Marketers Association wrote a great 5 part series about it. Here are the links for quick reference.

Part 1: The Concepts

Part 2: The Pros and Cons

Part 3: Selling the Concept to Your Organization 

Part 4: By the Numbers

Part 5: How it Impacts the Perception of Performance Marketing

An example of why attribution in affiliate marketing is important is from part 2.  “Affiliates who often drive a sale to a merchant’s check-out page are faced with customers who see a discount or coupon box. That customer will typically leave the page and do a search for a coupon. If they find one at a coupon affiliate site and then return to make the purchase, the coupon affiliate will get credit for the sale. Some affiliates say that is not fair since they believe they did the upfront pre-selling job of getting the customer to the merchant’s shopping cart in the first place.”

This in itself should be a reason to look into this and better understand it. Are you crediting the right channels and the right affiliates to your sales? If not, how can you measure the success of each touch point? How can you successfully attribute budget to the highest profit or highest converting channels for new customer acquisitions?

By understanding attribution more clearly you will be able to make better decisions as to where you spend your advertising budget and learn which affiliates to focus your attention on. But being able to make decisions based on data rather than “gut feelings” your bottom line will be better protected and you will have opportunity to really grow profitable sales.

Archives

Categories

Latest Tweets

Favicon-White

 

Interested in our AIM Newsletter?
Yes Please

Contact Info

Unit 238 – 11180 Coppersmith Place, Richmond, BC, V7A 5G8

Copyright 2018 Sarah Bundy © All Rights Reserved