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How to choose the best marketing attribution model for e-commerce sites

  • May 18, 2021
  • By ACS Admin
  • 0 Comment
  • 556 Views
  • 5 min read

What is online marketing attribution modeling?
Attribution modeling in digital marketing is a very complex subject and at the same time a very important element. Before we start and get into an in-depth assessment, let’s begin with the basics marketing terms that will solve the puzzle in an easy route. Attribution modeling helps to understand the touchpoints of online mixed media channels. Now the question that would have clicked in your mind possibly will be what is this Mixed media approach lets simplify this with an example below.

Let’s assume that you own a website that sells crockery online. Now post-launch of a website you have planned to promote the website online with the help of a marketing agency with an approved budget of Inr 10,00000/- per month. Further, concerning the approved budget let’s assume below is the marketing allocated budget to deliver an agreed KPIs

 (Note – Below data is a rough estimate to explain the terms used in blogs, do not consider the same for any online marketing executions.)

S.RMedia ChannelAllocated Media Budget (Inr)
1Google Search Ads5000/Per day
2Google Display Ads6000/Per day
3Google Shopping Ads9000/Per day
4Google Video Ads5000/Per day
5Facebook Posts2000/Per day
6Facebook Cov. ads3000/Per day
7Paid blogging 5000/ Per week
8Paid Influser ads80000/ Per month

Considering the above spend, let’s assume the media agency has generated 3030 online orders by maintaining ASP (average selling price) of INR 1900, and CPA 330. 

payperorder_acs

Now targeting users via different marketing channels is called a mixed media approach. Now I request you consider yourself as a potential buyer of crockery and you search for the term “ceramic dinner set online” and ads deliverers to you under google PLA ads (shopping) sample image is added for your reference. 

Now based on your best match you clicked on ads offering Rs 1690 to review the product. You checked the product brief and found some similar products under the same category and planned to fix the one while you were supposed to add on the cart you got and call from the office and you forget about the whole process of purchase and quit the website and proceed with your regular work. What we understood from a marketing point of view is that the user visited our website from a source called Google and the medium was shopping_ppc (Ppc is referred for pay per click paid ads) but dropped out at add to cart page.

Now on the second journey of the same user, considering you were browsing on facebook and you came across the same product which you had dropped out while making a purchase. You recalled the product and again visited the page but due to reason you forward the same weblink with your wife/husband/friends to get the review on your design. And to get the response let’s take it took three days and finally you got the positive advice from your friends/wife/husband. Now in the third case you directly search on google using the brand name and purchase the product. Lets review the user journey detailed below:

payperorder_acme

Google Shopping = Facebook= External Link Share = Google search brand ads = $$Purchase.

Now under online media creating best use of different marketing channels is called media mix approach or Omni marketing approach. Getting back to the attribution model, above said purchase is attributed by different touch points and defining correct features to each channel in simple words is known as attribution modeling.

Different attribution model to opt-in google ads and google analytics

We understood how important attribution is to find the factual performance of campaigns or channels. There are different ways where you see the attribution under google ads,facebook ads and google analytics. Further to this we could also use third party tools that offer extended features to track the attribution. Here we will learn about the predefined attribution model available in Google analytics which is popularly used by all global marketers. 

Default attribution model available in Google analytics (GA) are listed below:

Last Click
First Click
Linear
Time decay
Position based
Data driven

In addition to above models GA offers ease to set up your own suitable attribution model that fits best for your business goals. One can choose a baseline model and the required set can be done.

How to choose the right attribution model for your business goals

We don’t have a systematic procedure to follow for choosing the right attribution or even we could say there’s anything right or wrong in setting one. Based on over best fit we choose the one or can creatine the one that is required for our business. Besides, we have different options to compare the data via Google Analytics or Google Ads. Please follow the steps below to run the model comparison:

  1. Model Comparison using google ads 
  • Login into your Google ads account
  • Click on Tools options available on the top right corner
  • Under Measurement click Attribution 
  • Under Overview click on Model comparison 
  • Under model comparison tab select date range and compare the different models and can choose the best match that fits your marketing Kpi’s.
  1. Model Comparison using google analytics 
  • Login into your Google analytics account
  • Click on Conversions below behaviour option
  • Under Conversions click Model Comparison Tool
  • Under model comparison tool tab select date range and compare the different models and can choose the best match that fits your marketing Kpi’s.

Thank you for reading your blog, and we hope you got an overall idea on selecting the best model that will work for your business goals. Furthermore, if you need any clarification please feel free to comment queries if any will be answered. 

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