Attribution analysis is labeling everything in a “closed loop” to ensure we’re getting completely accurate report on every engagement, from stimulus to assist through intermediate clicks and last click; the entire journey each conversion takes from the beginning of engagement to the last click just before conversion occurs. There are a lot of methods and techniques used to management this process. A lot of my work involves manual analysis and matching to ensure the accuracy of automated systems that pass information from one platform on analytics data to another source. Sometimes this pushing/pulling is done manually for accuracy and validation. I also help companies determine what actions/events should be considered an engagement worth counting.
We can then use this data to match gclid (a value assigned by Google to every click) matched back to a callers phone number. We can then push that data and use your input values to push values into Google Analytics. Google Analytics and AdWords are capable of matching back to every touch point the gclid interacted with to know exactly what sources have the highest ROI. Now we’re getting opportunity source, opportunity cost and opportunity value! The important thing here is that Google has already created the engine that enables us to do this, it’s just a matter of employing best practices to ensure we’re getting all the necessary data points for analysis. Some of this process can be semi-automated but ultimately I believe manual review is needed to ensure a greater degree of accuracy.
In summary, the benefit of building an attribution model and conducting lead scoring is that we can clearly identify every point of interaction from stimulus to the last click leading up to conversion. Then using a well-defined lead scoring methodology we can push value metrics and data into Analytics to determine where the best return on investment is provided to aplify those points be increasing Max CPC/CPM bids and reducing waste by pausing the sources that have poor conversion rates or assist factors. This is a very complex way of managing advertising, it’s time-consuming but can produce incredible returns by lowering cost per acquisition (CPA) and improve actual monetary value for businesses that are growing or trying to improve the results from online advertising.