The latest weapon in Google’s arsenal of analytics tools aims to answer every marketer’s key questions:
- How do my customers make their online purchasing decisions?
- How much value does each of my channels drive?
- Which channels should I invest in to increase revenue?
Google Attribution (the free version) and Attribution 360 (enterprise-level) can provide these actionable insights. However, to reap the rewards, marketers will have to get their data in order.
Attribution uses Google’s powerful Device Graph to measure the performance of all channels across all devices in the customer journey. It uses data collected from six Google products, each with over one billion worldwide active users:
This clear view of the full customer journey will enable marketers to understand the effect that their marketing decisions are having on the end customer.
The tool is based on a data-driven attribution approach, meaning that it assigns the correct credit to each step of the customer journey, as opposed to giving the credit to the channel that directly led to the conversion (last-click attribution model). This data-led approach will provide a more representative reflection of the value of each channel, from engaging with a prospect early in the journey, all the way to the final conversion.
The final and most important step is to take action from the insights and invest budget into the channels that will deliver the most value. Attribution’s integration with AdWords, DoubleClick, and Google Analytics, facilitate an easy process to update bids and move budget between channels.
Difference between Attribution and Attribution 360
|Google Attribution||Google Attribution 360|
|DoubleClick integration||Search (coming soon)||Search, Bid Manager, and Campaign Manager|
|Payment level||free||Pay monthly|
Google’s free Attribution tool goes a long way by offering marketers a new and simple way to understand cross-device, cross-channel behavior, and understand the value of each channel in the customer journey.
Attribution 360 takes things to the next level by also integrating with the full DoubleClick stack, including TV in the attribution funnel, as well as offering Spend Optimizer, which provides budget recommendations for media buyers on existing spend, and forecasts expected lifts in conversions.
How to get ready
Any tool is only as good as the data it uses. To get the full value out of Google’s new releases, marketers need to start now to get their houses in order. Correct tagging, configuration, AdWords set up etc. are all crucial steps needed to receive meaningful data and insights. The earlier the current data set up is audited and improved, the quicker valuable insights marketers will receive through Attribution.
For help getting your data ready, or to find out more about Attribution 360, please contact us to speak to our analytics and data science experts.