The well known saying is that half of the advertising was wasted, he just didn’t know which half. Off course it is just a saying but it illustrates that big part of the advertisement budget is wasted. If you watch pure on Pay Per Click advertisement with a good statistical reporting (like for example Google AdWords), you can see which clicks were wasted because there is no conversion coming from these paid clicks.

But this is not the complete story. Most common is that last click is measured and assigned to the conversion. Buyers are subscribers are very often having more touch-points and clicks to make a conversion, it is called the customer journey. For example a banner creates awareness, then the users start searching, clicks on AdWords, search again clicks on organic search, now re-marketing starts doing is work and convinces the user to come back and converts. Various models of conversion attribution assign the weight of the related investment per channel.

In my opinion we can say that by using a reasonable conversion attribution model we assign the exact costs for the advertisement that was working and where we wasted.

marketing-channels

Something else very interesting is the Life Time Value (LTV) per conversion based on the customer journey. Connecting the customer journey to LTV we can even better predict which channels, keywords etc. are working well. If you add the individual customer journey in the CRM system, you can approach your leads and clients based on their behavior for the customer journey.

Below a review for 10 tools for Conversion Attribution, judged on the possibilities for:

  • The well-used and wasted advertisement in conversion attribution model
  • Life Time Value (LTV) per conversion based on the customer journey.
  • Customer journey in CRM to support sales and upsales

1. Multitouchanalytics.com
Multitouchanalytics is a script to integrate Google Analytics to create better Attribution reporting. It described itself as it understand the true value of your marketing channels. Multitouch Analytics integrates with Google Analytics and offers additional reports that give you the full story on which marketing channels have been touched by your buyers. Integration is simple – just a couple of lines of Javascript code. And it’s free.

The advantage it that it is for free and probably for technical people easy to integrate but it can only be used for:

  • The well-used and wasted advertisement in conversion attribution model

2. Convertro.com
Converto writes on their website that they offer Scientific Attribution. They offer a sophisticated multi-touch attribution and marketing mix modeling. Our machine-learning algorithm considers thousands of variables to accurately assign credit across every touch-point your consumers take. The results show you leaders and laggards at the channel, vendor, tactic, and ad level – centered on the KPIs you care about: sales, ROI, profit, or custom.

Besides you can link online and offline marketing. Coverto tells you how TV, catalog, and direct mail influence digital campaigns. We identify which advertising is driving consumers to your stores.

The offline makes the tool interesting. Although a machine-learning algorithm sounds very impressive, it may be confusing as the attribution model is probably changing. Maybe better to start simple. Anyway the if the conversion model is working well then the benefit is:

  • The well-used and wasted advertisement in conversion attribution model

Converto is founded in 2009, there was $5M invested in the company and has been bought in May 2014 by AOL (source: Crunchbase).

3 Attributionapp.com
Attributionapp Drill down to individual users and events. This way you see real customers with rich histories, not just numbers on a spreadsheet. The tool automatically Track Advertising Spend and can drill down to individual users and events.

It seems to a handy tool with reasonable pricing with following benefits:

  • The well-used and wasted advertisement in conversion attribution model
  • Customer journey in CRM to support sales and upsales in a nice visual way

4 Ensighten (former Tagman)
With Ensighten attribution, you can Optimize Prospecting And Retargeting Campaigns To Boost Return On Ad Spend. Sharpen media spending and optimize customer journeys across channels. Fully integrated within Ensighten Manage, Ensighten Attribution enables real-time action of omni-channel attribution data while reducing vendor costs and boosting the ROI of advertising spend.

Gain Insight Into The Omni-Channel Customer Journey
Let the data show your customers’ paths to conversion across multiple channels and touch points, and optimize 1:1 marketing along their unique journeys.

Seems to be an interesting tool if you use the whole package. This way the benefits are:

  • The well-used and wasted advertisement in conversion attribution model
  • Customer journey in CRM to support sales and upsales in a nice visual way

Ensighten is founded in 2009 and got total investment of $55,5M (source: Crunchbase.com//ensighten)

Tealium
Tealium Customer Data Platform is a well known platform to fulfill Your Omnichannel Goals. Tealium AudienceStream is a real-time data action engine that focuses on the influence and conversion of visitors and customers that are active in your digital channels right now. This compares to traditional DMPs that focus on the acquisition of new visitors through stale and inaccurate third-party data sources. AudienceStream enables marketers to segment their high-value visitors, enrich those visitor profiles on the fly, and share that data back to existing vendors to drive superior campaign performance. AudienceStream can also ingest offline data, as well as stitch together cross-device profiles to provide a truly unified customer view.

Tealium is rather a high end platform with all its benefits like:

  • The well-used and wasted advertisement in conversion attribution model
  • Life Time Value (LTV) per conversion based on the customer journey.
  • Customer journey in CRM to support sales and upsales

Tealium was founded in 2008 and got over 5 rounds with 13 investors $77,9M (source: Crunchbase.com)

Attribution in Google Analytics
Explained by Google’s Analytics Guru in his post: Multi-Channel Attribution Modeling: The Good, Bad and Ugly Models.

The benefit besides that it is free software is:

  • The well-used and wasted advertisement in conversion attribution model

Signal (former BrightTag)
Signal connects your customer data into a single identity. It is a realtime platform that collect your customer engagement data and connects cross-channel signals into customer profiles. This way you can activate customer profiles in real-time.

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It seems to be high-end platform with all the benefits:

  • The well-used and wasted advertisement in conversion attribution model
  • Probably Life Time Value (LTV) per conversion based on the customer journey.
  • Customer journey in CRM to support sales and upsales

Signal was founded in 2009 and got over 4 rounds with 20 investors $50M. Signal acquired BrightTag and SiteTagger) (source: Crunchbase.com)

Rakuten Attribution (DC Storm Platform)
Storm uses in-depth propensity analysis to set weightings on all of the metrics that matter, including:

  • Brand or non-brand – Visits that reflect that the user knows the brand name of the website can be treated differently from those that don’t.
  • Marketing Channel – Weightings can be changed based on the marketing channel that brought the visit.
  • Keyword Grouping – For visits from paid and natural search, the weightings can be based on groups of keywords that can be defined using free text matching.
  • Position in the path to conversion – Once a set of visits has been identified; weightings can be set for visits based on the position of visits in the path to conversion.

Storm Measurement Hub is a database that consolidates data across all marketing touch points, campaign events, user tracking events and customer events (CRM data). It is a high-end platform that includes all the benefits:

  • The well-used and wasted advertisement in conversion attribution model
  • Life Time Value (LTV) per conversion based on the customer journey.
  • Customer journey in CRM to support sales and upsales

DC Storm was aquired by Rakuten in May 2014.

10 Applicata
The integrated marketing and controlling platform.

Applicata
  • The well-used and wasted advertisement in conversion attribution model
  • Life Time Value (LTV) per conversion based on the customer journey.
  • Customer journey in CRM to support sales and upsales

Applicata was founded in 2013 in Berlin and seems to need an investor.

forrester_thumb
Source: Forrester wave attribution q4 2014

And now, hopefully you would like to know what is the best tool? This dependable of the size of your company and even more of your most actual problem in improving advertisement spending’s. Even for bigger companies I would advice start experimenting with measuring and storing the customer journey in the CRM (most CRM’s this would be rather easy). The next step is generate individual and segmented reports to setup experiments to improve the customer journey. If you get some experience and you have budget you may consider the high-end tools, expacially the ones who can measure multi-device. If you don’t have big budgets then keep on experimenting eventually by using free tools.

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