Drop Your Last-Click Crutch
Let's not talk about best practices for using attribution models to measure the effectiveness of your digital marketing campaigns. Type "attribution modeling" into your search bar and you'll have a windfall of insight and guidance on the subject from some of the best marketing brains in the world. And let's not spend our time here debating the merits of various attribution scoring techniques, since research tells us only about half the companies in Europe and North America do any sort of marketing attribution analysis in any case.
No, let's stick to basics and ask a frank question: If you can count your company among those using attribution models for your digital campaigns, are you still defaulting to traditional "last click" measurement?
It's OK to admit it, because it's understandable. Not long ago, we had little choice but to rely on the last click. We had the motive — demonstrate marketing's ability to drive revenue — but we didn't have the means. The data connecting each touchpoint along a customer's path to purchase wasn't available or reliable. Moreover, the tools for analyzing this type of information were neither sophisticated nor affordable. Spending most of your marketing budget to determine whether marketing was working just didn't add up.
Plus, we rarely had the opportunity to analyze. Who had time in the past (or now) for hours of complex modeling? All modern business moves as fast as the latest microprocessors can carry it, which lays heavy pressure on marketers to produce results just as quickly. Digital marketing isn't just about driving revenue; it's about driving revenue ASAP.
So, if the last marketing tactic in a campaign produced a sale, we gave it 100 percent credit, even though a mix of campaigns and as many as five touchpoints preceded that sale. On some level, we also knew we were sacrificing the potential modeling would deliver. We knew we could beat our competitors if we could just see the whole picture. We knew we could produce more revenue if we could focus time and effort on the most successful campaigns. And we knew we could cut costs without sacrificing returns if we could determine the optimal balance of spending between branding and direct response.