By Ben Sharp, Managing Director AdRoll APAC
Attribution. One of the most controversial and difficult topics in the advertising industry. That’s why AdRoll in association with AdNews wanted to find out what marketers thought about attribution and the hurdles they were facing in setting a reliable model. To do this we ran a survey of 165 Australian marketers along with a series of roundtables with some of Australia's top marketers including Lenovo, NAB, Toshiba and Flight Centre as well as Jodie Sangster from ADMA.
The discussion paper, Marketers and Attribution, which was launched at ADMA’s Data Day in April, shows that marketers are confused about the topic. No surprises there. The one thing that everyone agreed on is that measuring solely clicks is not accurate. Marketers need to take into account the customer journey to purchase and each touch point along the way.
With no one-size-fits-all model for Australian marketers, panelists at both Sydney and Melbourne Data Day encouraged the audience to test and try different methods until they find something that works for them.
The consensus in the end is that Australian marketers need to overcome five major hurdles in their quest to deliver the most accurate attribution model for their business. Those hurdles are:
1. If you can’t have the holy grail then it’s easier to stick with the old way
Basically this means, if you can have the perfect attribution mode that blends the on- and off- line worlds then why bother moving on from first or last click. There are a million reasons this is the wrong attitude. When you’re talking about which channel is making a better return you’re talking about investing company dollars! Not something to be taken lightly.
2. Fear factor: What happens if we spend the money, switch models and gain nothing from it?
You’re not locked into any type of attribution model and if fact, you should be constantly trailing new and improved methods that might benefit your business.
3. Lack of resources
This seemed to be an issue across the board. If you research and use free programs like Google Analytics there are a range of model which can be incorporated other than first or last click.
4. Drowning in data
Too much data was another big issue. Making sense of this data will be much more simple with an attribution method in place.
5. C-suite says no
A lack of understanding from the C-suite is the final major hurdle that marketers come up against. If the true decision makers of the business don’t have a clear understanding of attribution and the lack of reliability in click methodology and the difference it can make to the bottom line of the business then you won’t have much luck. Education is key.