WHAT VALUE SHOULD YOUR MARKET CHANNELS BE ATTRIBUTED TO?
What is the first and last click worth in a customer journey? How much of the revenue should be attributed to a displayed but not interacted ad? Questions that are obviously difficult to answer exactly. Here it is important to look up and not stare blindly at the last click. Once channel experiments and channel selection have been made, it should be looked at how synergy can be created between the different channels. It is of course optimal that the channels lift each other.
The best scenario is when a customer encounters marketing materials in different channels at different times in their customer journey. A picture ad on facebook one day and a Youtube video another day. If the tracking is in place, you can see the entire customer journey, and thus the entire sales funnel can also be optimized.
It is possible to see which combination of googled keywords, Facebook ads and Youtube videos will ultimately lead to the most conversions and then optimize accordingly. That’s what Attribution is. It is also possible to use the data to do cohort analysis. Then informed assumptions can be made about customer behaviors of different specific types of customers.