One of the major difficulties with digital marketing is attributing meaningful results, thanks to multiple channels, numerous creative executions (videos, posts, display ads, search ads, etc.) and multiple metrics related to each tactic.
It’s not always easy for a brand to see how their campaigns are performing across their entire conversion path including the whole marketing mix, especially if they don’t have access to all the information or are working in silos. Even with full access, the process can become overwhelming in terms of cost, time and knowledge to decipher and implement an attribution model that works best for your brand.
There are many factors to take into account when deciding on an attribution model:
- Customer journey
- Number of channels
- Length of sales cycle
- Campaign goals
It requires experimentation and testing to determine what model works best for your campaign or organization. Before landing on an attribution model, it’s important to have agreed-upon KPIs that can ladder up to the end goal. Fortunately, we have more data and the ability to analyze and optimize campaigns to enhance results.
The chart below has a few examples of the types of KPIs you need to develop for your digital efforts. As you can see, there is a great deal of data and information you can extract from Google Ad Network and Google Analytics on your site.
|Awareness||Google Ad Network||Responsive Display Ads bought by CPC and driving to blog on website||Impressions, Clicks, CTR, CPC, time on page, pageviews, growth of remarketing list|
Analysis: When buying by CPC, the better it performs the lower the CPC and higher clicks.
As you optimize, the impressions will go down (i.e. Google needs to serve fewer ad impressions to get the click). The CTR will go up when this happens (over 1% is good).
If the blog is good-quality content and what the user expected based on the ad, they should read the article (400 -800 words).
The average time on the site should exceed one minute. If the user clicks from the blog to other recommended content or thru-links to other elements of the site or thru-navigation, you will gain more page views and lower your bounce rate.
If a user only looks at the blog page and then leaves, you could increase your bounce rate. The time on the page will indicate if they were engaged by the content. If they leave without going to other pages, you may need to increase your links and recommend other content.
The movement through your site may also help you determine the buyer journey. You will also want to ensure your site is pixeled so you can build a remarketing list to serve sequential messaging to users who have engaged with your brand.
|Consideration||YouTube||Remarketing to the people who clicked on your ad during the awareness stage with pre-roll video playing in a contextual format (i.e. recipe pre-roll video served prior to recipe videos). The video is meant to increase brand awareness and show viewers how to use your brand in a recipe.||Views, CPV, average time watched, percentage of video watched to completion, clicks, CTR|
Analysis: Remarketing costs are lower than top of funnel marketing costs, meaning you should see a lower CPV.
If a pre-roll video can be skipped after six seconds and your video is being watched on average much longer than that, it indicates you have reached an engaged audience. If most people are skipping your video as soon as they can, you have not engaged them with your content.
The completion rate of the video also indicates when the viewer is losing interest and may give insight on editing. Viewers are less likely to click on videos than display ads, so if you get clicks and CTR that is above 0.1% you are doing well.
|Consideration/decision||Google Ad Network||Remarketing with responsive display and search ads||CPC, CTR, time on page – URL to store finder, store finder
Analysis: If consumers have already engaged with your brand, they are more likely to click again and will cost you less (lower CPC).
If you are sending them to the store finder page and they look for the closest store by entering their postal code, you gather more info, but also see that they are interested in further investigating a purchase and may visit the store – i.e. have moved along the buyer’s journey towards purchase.
Ensuring your website is user friendly, technically sound, updated regularly with quality, relevant content, and outfitted with pixels (Google and from social media networks) is critical for you to be able to remarket properly to buyers who have shown interest in your brand. The next step is making sure you have a digital team that understands the nuances of what the metrics mean and how they can ladder up to your goal(s). Based on your budget size, you may then need to start experimenting with attribution models to further enhance your results and ROI.
If you need help setting up your digital marketing infrastructure and/or efforts, please reach out to our digital media consultants via email@example.com.