The objective of Attribution Modelling is to develop a model that drives great decisions and optimisation on an on-going basis.
Although the output is a working model, the analysis process which the consultants go through often uncover additional findings that add considerable value e.g. wasted spend or channels cannibalising conversions.
Attribution Models that Reflect True Behaviour
Rakuten Attribution have been developing attribution models since 2006. The approach incorporates an understanding of our clients' users, the marketing channels they use and a advanced analysis of the omnichannel paths to conversion.
- Which activities and visits are actually contributing towards the ultimate goal?
- What's the lag time between first visit and sale and number of visits?
- How far back do visits contribute to the conversion?
- In what combination are the channels effective?
- How should the conversion value be shared between the contributing visits?
- How should each channel be weighted?
- How should we treat Brand vs non-brand and direct traffic?
The goal is to build a model to automatically attribute sales in real-time for reporting and unrivalled optimisation.
Dynamic Statistical Modelling
Rakuten Attribution develops its attribution models through thorough statistical analysis of each client's individual data. This method uses omnichannel data to define the most advanced and accurate models that reflect real user behaviour.
Our experts and technology analyse all converting and non-converting journeys to understand the propensity to purchase for all touchpoints. By analysing which touchpoints actually increase the conversion rate we derive a coefficients matrix that is implemented in the Storm Platform for real-time marketing attribution.
Ongoing Model Refinement
Attribution models are repeatedly updated to ensure they're always as accurate as possible.
Online marketing is constantly evolving, with new sites, channels and opportunities appearing all the time. In addition to this, business’ campaigns will change and focus will be shifted to reflect new activity.
Rakuten Attribution provide clients on-going technology and support to ensure their omnichannel attribution model continues to grow and develop alongside their business.
How Can Attribution Modelling Benefit Your Business?
91% of marketers understand the importance of attribution but only 20% of them are using it. There are several benefits to using an attribution model in your business, which include:
- Gaining a better understanding of your customers
- Understanding where to apply marketing spend
- Justifying marketing budget
- Optimising campaign performance
- Finding the most accurate CPA / CPI
Please don't hesitate to get in touch if you have any questions.