Before a consumer makes a purchase he/she is influenced by different advertising vehicles used by a brand or a merchant. It could be a television commercial, or a digital impression from a banner ad, or an email promotion, or a flyer in the mail. So, what is marketing attribution? It’s the science of measuring the influence of each advertising impression on a consumer’s decision to make the purchase.
The science of marketing attribution
The illustration highlights the basic considerations for attribution – namely the channels, the touches and the devices on the path to purchase – but there are other complexities. These are listed below:
- Eyeballs or visits: Did the shopper click (in the context of digital marketing) on advertising collateral or did he/she just view the ad?
- Cross-device: Did the shopper switch media on the path to purchase?
- Quality: What was the quality of the visit? i.e. did the customer browse several products? Did he/she put the product in a shopping cart? How long did he/she spend? etc.
- Time spacing: What was the time between the visits?
- Cross-channel: Did the shopper view the product on one medium but purchase on another (such as on phone, in-store)?
- Loyalty: Was this the shopper’s first purchase? What credit of the most recent purchase should be apportioned to the influencers leading up to earlier purchases?
Attribution assigns a measure to each point of influence based on the above considerations.
How Polytab attribution helps merchants
Polytab uses all of the considerations listed above in doing the attribution for merchants’ sales in real-time. This is part of the multi-touch attribution paradigm. The technology under the hood is adaptive and trains itself around the consumers’ behavior for that merchant over time. But the benefits you, the merchant, get out of it are as below:
- understanding of how much to allocate to mobile paid search ads (especially the non-branded) campaigns. Mobile inventory is typically cheaper and mobile devices are usually early in the funnel for a consumer’s shopping journey;
- affiliates that deliver new customers to your pipeline (versus those that appear as coupon or cashback sites);
- display impressions (or eyeballs) that prospect new customers.
Check out the free demo through the link below.
Arrow image by Joe The Goat Farmer – Attribution 2.0 Generic (CC BY 2.0)