Attribution Issues are About to Make Your Head Explode!
by David L. Smith
Do you have issues with attribution? Determining which media or combination of media is responsible for conversion of a prospect is daunting, and the new media technologies that are rapidly growing are about to make it much more challenging.
For traditional media, econometrics modeling has historically been used for attribution. This is a look back method using sophisticated tools to measure various traditional media types on how their scheduling and weights have impacted ROI, sales or awareness, depending on goals.
For digital media, direct connection to the consumer makes the issue, while still complex, at least an apples to apples comparison. Digital attribution (MTA or Multi-Touch Attribution is a common tool) is necessary to give the various digital media types (search, display, video, mobile, social, email) the proper weighting in crediting the action that the campaign intended (sale, app download, site visitation, white paper download, etc.). Initially, the issue was credit for results between Search and Display. The need for new technology came about as many felt that Search, as often the last touch in the consumer journey, was getting too much credit for consumer actions. Fair attribution became even more complicated as companies tried to also include video, mobile, social and email in the equation.
Today, MTA and econometrics are both becoming more sophisticated with several companies working on solutions to bring these two concepts together into a solution which gives proper weighted credit to traditional media (TV, radio, newspaper, magazines, outdoor) and the six digital media outlined above.