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Five Ingredients of a Successful Attribution Project

October 20, 2017 - By Vijay Sankar, Product Marketing Manager, Visual IQ

Five Ingredients of a Successful Attribution Project

Implementing a marketing attribution program is a project that doesn’t work in a “fill-it-shut-it-forget-it” fashion. It’s more like cooking a great sauce, where each ingredient adds to the flavor and the longer it simmers, the better it tastes.

Attribution is a continuous investment with an opportunity to improve in an on-going manner. Investing in the right attribution platform is just the starting point. What should you do next to make the most of your attribution solution?

In this blog post, we discuss the five key ingredients of success that will help you reap the maximum benefit from your investment in marketing attribution.

1. Include all channels

Bringing all channels into the platform—owned, paid and earned—is a key requirement for analyzing results and deriving insights about what is working for you. Whether you bring the channels, campaigns or vendors in one-shot or use a phased approach, the end goal is always to include each and every piece of marketing and media investment you have. It is also equally important to bring in all sub-tactics such as a new vendor, platform or theme that you are testing in the market. Bringing them in early not only helps you optimize within and across channels, but also build the required dataset for accurate results.

2. Involve technical and marketing teams

Often the initial setup of high-level metrics involves channel managers and executives. However, to get to the details and ensure all required information is brought into your attribution platform, it is important to involve all stakeholders: analytics, media, technical and ad ops teams. Effective tracking and capture of data for taxonomy and cost helps improve the accuracy of your data and makes generating insights at the granular level possible.

3. Develop an effective nomenclature

It’s not uncommon to have siloed approaches when various marketing and media teams define their taxonomy and nomenclature. Ensuring a standard nomenclature is critical for consistent analysis, reporting and planning. An attribution project is an opportunity to streamline all your taxonomy and put a process in place. This not only helps you get the most granular insights out of modeling, but also helps in all your reporting requirements.

4. Adopt across internal teams

You can reap the true benefit of attribution when teams across the organization use the output of the attribution model as the source of truth. This requires dedicated effort across internal teams to make sure each channel is tracked and included properly. The initial days of the project play an instrumental role to ensure the accuracy and creditworthiness of the project.

5. Reap the benefits of martech and adtech integrations

The key contribution of an attribution project is that it brings a closed loop system to your media planning and marketing efforts. Attribution vendors can integrate demographic attributes and other audience data from martech for an unparalleled view of marketing and advertising performance by audience, and relay optimization insights in a way that all platforms in the adtech ecosystem can ingest. These integrations plays a pivotal role in reaping the benefits. A seamless integration between attribution insights and adtech and martech players ensures that you are implementing a true marketing intelligence platform—and rescues it from becoming yet another reporting dashboard (or tasteless sauce).

Are you considering a marketing attribution project? Let us help.

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