MARKETING CAMPAIGN ATTRIBUTION SMR Lele} ith CamScannerMarketing Campaign Attribution Contents Background... Various attribution algorithms... Single touch attribution methods. - Multi-touch attribution methods... ~Benefit of multi-touch attribution —ewnerennneenerneennnnn Technical Implementation of attribution algorithm... -Precautions and Guidelines... How it works... Recommended best practices on implementing multi-touch attribution...... View-point on the usage of attribution model....... _ - Hansa Cequity 1 Scanned with CamScannerMatieting Campaign Atribution BACKGROUND ‘Amarketing campaign isa planned set of activities to promote a product or service. multitude of channels are used and coordinated to deliver effective results. One of the major role of marketing is to determine which of the campaigns ‘are working best for the business. It helps in planning for the avaitable budgets and resources to acquire new customers, manage customers and prospects as well as projection of future growth. ‘Today, brands use multiple channels to ‘generate impressions/leads that can be mapped toa particular individual These include digital (paid search, facebook, google adwords, emails, SMS, IVR etc) as well as non-digital Call-centre logs, BTL camps, direct mailer etc) channels. jamaker Campaign attribution is the process of attributing the influence of the marketing campaigns! actvities/channels to revenue. It is one of the major challenge that almost all the brands are grappling with. Cn one sie, the attribution togic should be sirmple enough so that all the stakeholders accept the result from the attribution. On the other side, itshould be extensive enough such that right attribution is given to 3 particular channel Ifthe attribution modatis implemented successfully. the attribution model willbe able to assess performance (by measuring return on investment) allocations and drive the marketing bud: towards the most effective channels. Scanned with CamScannerMovketing Campaign Atribution VARIOUS ATTRIBUTION ALGORITHMS Atcibution algorithms are used to allocate basic to highly sophisticated. As a marketer, it Is credit fr a key event/channel for a particular important to identity the nuances and caveats target (such as sales or conversion) ina scientific _of each of the commonly used algorithm so that ‘manner, Digital Marketing industry has been the right algorithm can be implemented for that putting a lot of emphasis on attribution algorithm particular organisation, \hich Is evident from the past acquisitions To better understand various methods, (Google, AOL and Rakuten marketing acquired consider this example. prospective customer Adometry,Convertro and DC Storm respectively). was subjected to following channels before Today,there are myriad of readymade algorithms conversion to sales. available in the industry starting from very \ sus (7 Facebook Communication, 4 Campaigns O Ematt | {yj Comnurnieation outbound ft | t | activity. ( Callcentre wo! Facebook Campaigns Start of Communication toSell Asiaimarketeritlisiimportantito (CERT TanTEn Sen RENCE SOL: leachiof. theicommonlyusedialqorithm| so that thelriqhtalgorithmicanibe ETT ian ele . Hansa Cequity $ Scanned with CamScannerSINGLE TOUCH ATTRIBUTION METHODS Last Touch Attribution First Touch Attribution BTL Email Cell Centre ms allocate complete credit These alg to. particular event/campaign/activity for conversion. There are two popular methads used Inthe industry: LAST TOUCH: As per this algorithm, the last channel used to send communications to the customer before conversion gets all the credit. Inthe above example, the Calt centre gets all the credit for the conversion. tis useful when there are one or two channels. However, when there are more than 4 or 5 touches, this might provide lop-sided attribution to the activities This algorithm is extensively used in Google ‘Adwords and many other programmatic Ad platforms, This algorithm can be suitable for brands which involves impulse buying such as FMCG or apparel products. SMS Facebook BTL Emel Single:touch| Sieh FIRST TOUCH: Here, the first campaign inthe list of campaigns sent to the customer before conversion gets all the credit. For the aforementioned example, the SMS communication gets alt the credit for the conversion. This is also very popular in the industry with many anatytical tots using it owing to its simplicity. Simitar to Last Touch, it might give misteading attribution when large number of marketing channels are used. Scanned with CamScanner‘Morketing Campaign Attibutlon MULTI-TOUCH ATTRIBUTION METHODS Linear Attribution 2% Fr 15 in 10 Facebook BTL Email Coll Cente Ms While First Touch and Last Touch are very popular ‘owing to their simplicity these can give some direction on the most effective channel at best. However, these shouldn't be used to determine the quantum of marketing spend for each activity | when the campaigns span multiple mediums and devices. Multi-touch attribution determines the value of each touchpoint that a customer traverses before conversion. This way.it indicates the quantum of marketing spend to be atlocated to various channels. In the aforementioned Meer PETER CT Nye In Time Decay Attribution % 30 6 0 | : N (| all Centre SMS Facebook BTL Email ‘example, this method will attribute the credit for conversion to all the channels. “There are various algorithms avaitable for ‘multiple touch attribution. Here are the major ones: LINEAR: It atlocates equal credit for all the channels leading to the conversion. In the aforementioned exampte,all the § channels viz. ‘SMS, Facebook, Emall, TL and Call centre will be attributed 20% each for the conversion, TIME DECAY: It allocates more weight to the later events (eading to the conversion. In the aforementioned example, the call centre outbound activity and Email Campaign gets ‘more weight than TV Ad and BTL activity. For ‘example, one of the attribution can be SMS 10%, Facebook Campaign -15% BTL Activity: 20%, Email Campaign ~ 25% and Call centre activity ~ 30%, Advocates ofthis algorithm argue that ifthe earlier activities are more efficient, the conversion should have happened right after communication through that channel. Poise Hansa Cequity 5 Scanned with CamScannerMarketing Campalgn Atribution CUSTOM: This Is the most advanced one where Custom Attribution you can set your own welghts. One ofthe custom ‘ artributlons uses a U-shaped model where the 5 first and last touch are given highest importance, s ‘whereas the remaining credit gets distrlbuted 0 equally among the middle touchpoints. In the 5 ee ‘aforementioned example,we can attribute 40% = 5 ‘each forthe fist and last channel and distribute as the remaining 20% equally for the 2nd, 3rd and Pa SMS Facebook BTL Emil Call Centre BENEFIT OF MULTI-TOUCH ATTRIBUTION ‘Almost any atgorithm of multi-touch attribution realised from Multi-touch attribution depends is preferable to the single touch attribution for con how its implemented and how the results crediting true impact of marketing activity. t ae interpreted and further actions are initiated. paints a more holistic picture ofthe impact ofall Here isthe result ofa survey done on Multi-touch the marketing touch points,However,the benefits attribution on Marketers across the globe. B Benefits Of Attribution \ . Ys we dx 63 58x 54, Ade ill s Better able Better understand Provided insights Marketing is Better understand toallocate budget howdigital —-—‘intoalraudlence better positioned to —therate of. ‘and RO! improved channels work makeup and obtalnbudget due to online/affine together behaviour higher accountabllty channels Source: Suey done by Google wth areter acos the alae ith the allowing breakup: 51% Clentsde and 49% Agence/Cosutants Hansa Cequity 6 Scanned with CamScannerCustomised attribution models shouldnt be Implemented when there are hardly one or 0 parallel channels. However.t should looked into in the below mentioned scenarios: finitely be ‘© When there isa significant marketing budget and ‘more than 2 channels with significant spend for each of the channel. © When there is a significant importance on iilestone-conversion as well (Milestone-conversion is an event prior to main conversion and isan important milestone in the conversion journey). For example,enquiry creation could be one of the milestone-conversions for sales conversion. (ther examples can be- bringing the traffic to the website orto the sales outlet. PRECAUTIONS AND GUIDELINES We should take care ofthe following guidelines ile implementing the attribution model © The milestone-conversions shouldn¥ be ghen huge importance for attrib jon If all the e targeted towards the milestone-conversion for the prospective leads, it might backfire. For example. take the case of car brands. If we consider two milestones before vehicle sales as bringing the tat to brand website and to the showroom, then no mo 30% attribution should be ghven to the m forthe campaigns intended for vehicle sales. The bulk ofthe attribution (mare than 70%) should be Given tothe final conversion ie sales © There should be ample space for Cost and Color Analysis along the mil Scanned with CamScannerMorketing Compatgn Attribution experimenting wth marketing spend down the customer campaign journey and tracking the quality ‘of convetsion at each step. Consider an example. There ae certain number of dormant leads. Say over a period oftime the booking conversion from dormant leads is ‘5% Nowylet’s say. we introduce another activity forthe dormant leads: Outbound calling activity of 3 attempts fiom the relationship centre. Say,post this activity, the conversion still remained at 5% Cost and Cohort analysis ofthe event journey wil identify the calling actvityas redundant © The attribution should consider only the Incremental effectiveness of the campaign. Test and Control isthe most popular technique followed in the industry to find out the incremental effectiveness of campaigns. Here,the incremental conversion of the test group over the control group (which is restricted from campaigns) is considered the campaign effectiveness and the same is used {for attribution across channels. HOW IT WORKS The most challenging task while implementing ‘multi-touch attribution will be to track and link activities between online and offline channels. Due care should be taken in selecting the unique Identifier) for cross channel mapping. ‘There are three main ways for tracking the ‘multi-touch marketing activites across multiple channels and platforms. A combination of one oF tore techniques are used in the multi-touch setup for precise atribution. © Javascrint tracking °° UTM parameters © Cookies Javascript tracking involves putting certain line of javascript codes inthe brandis website. It will ‘rack the movement ofthe lead from one page to ‘another As the brand website acts asthe hub for ‘ahost of activites such as digital ads,emails etc), tracking this accurately is of utmost importance. UTM parameters can track the movement {from a particular source in the digital platform. UTM tracking labels need to be assigned to the marketing activities so thatthe origin ofthe session ‘can be tracked and proper credit can be attri cular marketing activity. to that pa MEE Cookies ae useful especially for tracking fist time and anonymous users. When an anonymous User comes tothe brand website,no information is availabe for that user. Cookies store the information on the user until they ae cleared. Further, long term cookies has a life span of 90 days It gives ample time to track the user tll conversion happens. ‘Apart from these online activities the lea also Undergoes through several ofine activities such as 'SMS1VR (with Cato Action BTL Activites ee. To map the ontine and offtine activity one or more identifiers such as mobile number emai ID or Govt ID can be used. To incorporate online and offiine mapping, a data nerve centre needs to be set-up where each lead/ prospect will have a unique identifier That unique identifier will be linked to other user identifiers such asa cookie ID or mobile number or email 1D etc. The multi-touch attribution algorithm needs to be set up in the data nerve centre, & Hansa Cequity 8 Scanned with CamScannerMarketing Campaign A RECOMM IMPLEM Brands with complex customer journeys involving multiple marketing channels and touches will find the last touch or first touch attribution less useful, Definitely, multi-touch attribution is the way to go In such scenarios. However, there will be multiple practical challenges during implementation and adoption, Here are some of the recommended best practices based on my experience: © Define KPIs: The outcome of the multitouch attribution will impact almost all the sub-departments of the Marketing Department. will showcase how each of the sub-departments ‘work in combination to achieve the final business is very important to define a set of goal Hence, ‘common KPIs for various teams which are mapped to the final business goal © Appoint a Project Manager: Due to complexity of the process, the project might run into chaos and long period of indecisiveness on the rules and logic. Hence, there should be a decision-making authority who will drive the implementation, The project manager should have the backing of the top management for driving the project. ‘© Prepare a taxonomy: Prepare a set of acceptable naming conventions for the Important activites, Indicators and processes so thatthe reports and analysis ofthe performance are lookee! with curislty. Sot right expectation and educate al the stakeholders: As the output from the mltitouch attribution might be very diferent from how each of the marketing sub-department would be attributing themselves its very Important to set the right ‘expectation. includes explaining how the output from the attribution should be interpreted and ensuring that al the stakeholders show intrest towards tracking the attribution, «© Pllot activity before final Implementation: While the fullsledged attribution spanning all the channels and activities is best for optimal decision ‘making, [tis important to set the ball rolling by Implementing it for one ofthe channels frst (to Identify the best activity oF campaigns under it such as the most effective Email communication fora brand taunch campaign). The output from the plot can be used as a case study for final implementation, sa Coquty9 Scanned with CamScannerMarketing Campaign Atebutlon © Create a Data Nerve Centre: For implementing Centre Is the foundation on which an attribution the attribution model, It Is of paramount Importance model needs to be set up, Further, define the format, to have a 360-degree view of all the data from frequency of data update, resources required etc. for all the channels and activitles. So, the Data Nerve ‘the activity. Define Ks ; A eis en Nene Aopen» woke S Marager Pilot Activity Set the right Expectation Brands withicomplexicustomer journeys eT nee renee ETM es Bele Pe ances Le Hansa Cequity 10 ~ a - Scanned with CamScanner