Google will be announcing a new beta for Google Attribution at its Marketing Next conference.
Google Attribution aims to evaluate the entire customer journey, as opposed to limiting the evaluation process to the last click, by integrating data from Adwords, Google Analytics and DoubleClick. The ultimate goal is to simplify the complex process of multidevice and multichannel attribution to let marketers examine the various stages that are at play in a consumer’s purchase decision. And the best part is it’s free!
The widely used last-click attribution model leads to blind spots for marketers, as it doesn’t take into account the various touchpoints of the customer journey when making an online purchase. Currently, marketers evaluate campaigns based on the last interaction with the customer, which is the final touch point in a consumer’s purchase journey. While it’s relatively easier to quantify, it doesn’t quite represent the true picture!
Google Attribution will provide marketers with a better idea of areas into which they can potentially channel their effort by giving a more precise cost-benefit analysis. For example, with Google Attribution, you can know exactly how many conversions resulted from social media channels – even when social media was not the last touch point before the conversion. Google Attribution’s key selling points are its ease of use, its ability to integrate with numerous channels and its complete lack of cost.
By integrating data from Adwords, Google Analytics and DoubleClick, the new attribution model will allow marketers to understand the relative importance of each step in the consumer journey prior to a conversion. Google Attribution analyses each account’s unique conversion pattern, highlighting the differences between the journeys of consumers who did convert and those who did not convert. The coolest part? Google Attribution gives you real time results. So whether you’re updating bids or shifting budget across channels, you can do it with instantly available data.