Discover what Facebook and Google are not disclosing about your ads and the importance of taking an omnichannel approach in marketing. Learn how to attribute conversions to multiple channels and make better-informed decisions using different attribution models.
This video discusses the concept of omnichannel marketing, which involves using multiple channels to drive traffic and sales. The rule of seven is mentioned, which states that someone is more likely to convert into a customer after seeing or interacting with a brand seven times. The issue of attributing conversions to specific channels is addressed, as different platforms report on conversions differently. The various attribution models in Google Analytics are explained, including Last Click, Time Decay, Linear, Position-Based, First Click, and Data-Driven. The speaker personally favors the Position-Based model, which gives credit to the first and last touchpoints. The video concludes by promoting NP digital, an ad agency that offers assistance with analytics and making informed marketing decisions.
- Here's what Facebook and Google
aren't telling you about your ads.
Marketing has turned into omnichannel approach
in which you drive traffic and sales
through multiple channels, not just one.
And in marketing, they talk about this thing
called the rule of seven, which reinforces omnichannel.
What the rule of seven is about is when someone hears
or sees or interacts with your brand seven times,
they're more likely to convert in a customer,
evangelize your brand, love it, tell people about it
and that's why you want to take an omnichannel approach
because it's hard to get in touch with one person
through the same channel over and over again.
But there's an issue
When you start leveraging multiple channels
which one is responsible for the conversions?
Is it Google?
Is it Facebook?
Is it Instagram, Twitter, email?
How do you know which channel
is producing you the most ROI?
Well, there's the issue which how each of these platforms
from Google to Facebook report on conversions.
Let's say someone comes to your website
from an organic LinkedIn post,
then they subscribe to your newsletter.
You then send them a few emails,
they click on some of them, come back to your website
At this point, they still haven't bought from you.
And then they do a search on Google.
They click on your paid ad that's at the top of Google.
They go through, they check out your website,
maybe even add some props to the landing page
or read your services page, but they still don't convert.
You then see them coming back to your website
because they clicked on one of your tweets
or bio in on Twitter.
And now they come back to your website
and they complete their purchase.
Do you think Google shows that they caused that conversion
from, let's call it Twitter or do you think it shows
that they were responsible for that conversion
and it came from their ad?
Of course, they show that it comes from their ad.
Facebook and pretty much all paid platforms do the same.
If someone clicks on one of these paid ads
and they don't convert right away, but then they come back
through some other channel, even if they found your website
before you did that paid advertising,
they'll tell you that they were responsible
for that conversion.
There's nothing wrong with this,
but you ideally need to attribute your conversion
to multiple channels to figure out
what's accurately driving you revenue and what isn't.
And before I get into how you can do that
in Google Analytics, let me break down
the common attribution models that you can use.
There's Last Click.
This is historically the default
that just gives all the credit to the last click
before someone converted.
Then you have Time Decay.
This gives credit based on
the time between the interactions.
Then you have Linear.
This gives equal credit across each step
of the conversion path.
And then there's Position-Based.
This typically gives credit to specific steps
in the conversion path, usually the first and the last one.
Then you have First Click
All the credit from the first interaction,
typically used to drive awareness to your website.
And then you have Data-Driven.
This uses historical data
to determine the attribution credit.
This model will shift depending on the unique path.
There isn't one right or even wrong approach to use.
I typically use Position-Based myself
which typically gives credit to the first touch
and the last touch.
First touch being how someone first found your website
and last touch being on what is the last entry source
that they came through before they converted.
Sometimes people come to your website the first time
and they convert right away and sometimes they don't.
But that's why I love using this model
because it gives me, Hey, what are the main two drivers
of the conversion?
Now here's how you adjust your attribution
in Google Analytics.
First click on admin,
then I want you to click on attribution settings.
Then click on the model you want to choose.
And if you want, you can choose position-based, like me
or any other option.
Now you'll get a better idea
of what is driving your revenue.
Now if you need help with your analytics
and more importantly, on how to make
better informed decisions from your analytics
so you can grow your marketing faster and get a better ROI,
check out my ad agency, NP digital
where we have a whole data science team
that just helps companies with this.
If you enjoyed the video, like it, share it,
tell people about it and make sure you subscribe.
If you have any questions, leave a comment below.
I'm here to help you out.
In today's marketing landscape, it has become essential to adopt an omnichannel approach. This means utilizing multiple channels to drive traffic and sales, rather than relying on just one. One concept that reinforces the value of an omnichannel approach is the "rule of seven."
According to the rule of seven, a person needs to hear or see your brand at least seven times before they are more likely to convert into a customer and become an advocate for your brand. This is why taking an omnichannel approach is crucial, as it allows you to reach and engage with your audience through various channels, increasing the chances of conversion.
While leveraging multiple channels can bring significant benefits, the challenge lies in determining which channel is responsible for conversions. Is it Google? Facebook? Instagram? Twitter? Email? Each of these platforms reports on conversions differently, making it difficult to accurately attribute them.
For example, let's say a person visits your website through an organic LinkedIn post, subscribes to your newsletter, clicks on some of the emails you send, and does a Google search. They eventually click on your paid ad and make a purchase. Who gets the credit for that conversion - Google or another channel?
Most platforms, including Google and Facebook, typically attribute the conversion to the last click or interaction with their ads. Even if a user discovered your website before seeing the paid ad, these platforms will give credit to their ad. While there's nothing inherently wrong with this approach, it's essential to attribute conversions to multiple channels accurately.
Attribution models help determine how credit is assigned to various touchpoints in the customer's journey. Here are some common attribution models:
There is no one right or wrong approach to attribution modeling. The choice depends on your specific marketing goals and the insights you want to gain. Position-Based attribution, which gives credit to the first and last touchpoints, can be a popular choice, as it helps identify the main drivers of conversion.
If you want to understand better what is driving your revenue, you can adjust your attribution settings in Google Analytics. Here's how:
By adjusting your attribution settings, you can gain valuable insights into the effectiveness of different channels in driving revenue for your business.
Remember, accurate attribution is essential in determining the channels that are producing the most return on investment (ROI). By understanding the rule of seven and implementing omnichannel strategies with proper attribution, you can optimize your marketing efforts and achieve better results.
If you need assistance with analytics and making informed decisions to improve your marketing ROI, consider reaching out to our ad agency, NP digital. Our data science team specializes in helping companies leverage analytics for growth.
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