With automation and machine learning algorithms providing more calibrated, data-based methods of tracking conversions more accurately, it provides an avenue to drive your user insights and base your ongoing digital media, paid search, analytics & creative strategies around your audience’s behaviour. Here, we explore the benefits of Data-Driven Attribution and why you should be applying Data-Driven Attribution Models within Campaign Manager 360 (CM360) reporting.

What is Data-Driven Attribution (DDA)?

Data-Driven Attribution is a method of Attribution which uses all the data from Floodlight configuration along your conversion paths (converted and non-converted users) to provide insight into the impact of marketing touchpoints across your customer’s journey. It does this by developing conversion probability models from this conversion path data then algorithmically assigns conversion credit to each marketing touchpoint.

Typically, a Data-Driven Model within Campaign Manager 360 (CM360) needs to train for 1 to 2 days. Once data is collected, Data-Driven Attribution in Campaign Manager 360 (CM360) technology then apply game theory concepts to the algorithm (also known as Shapley Value) to determine contributions from each touchpoint.

In this article, we’ll explore Data-Driven Attribution that is available within Campaign Manager 360 (CM360), however, it is important to recognise that other platforms within the Google Marketing Platform (GMP) including Search Ads 360 (SA360) and Google Analytics 360 (GA360), also have Data-Driven Attribution as part of their functionality. This is in comparison to solutions like Google Analytics (free) which don’t have access to Data-Driven Attribution.

Why use Data-Driven Attribution within Campaign Manager 360?

According to research from Econsultancy, 34% of respondents said having the right technologies for data collection and analysis had the biggest impact on their ability to understand the customer. Therefore, using the Google Marketing Platform (GMP), and specifically, Campaign Manager 360 (CM360) for your Data-Driven Attribution has benefits which can’t be ignored, including:

  • Data-driven organisations being 3x more likely to record substantial improvements in decision-making
  • More accurate credit of revenue across the conversion path – according to this infographic, only 26% of respondents selected their Attribution model because it accurately gives revenue credit to marketing touchpoints, so this additional accuracy will assist with lower conversion costs and improved decision making
  • Leverage insights from your first-party data – all other Attribution models, either Last Click, or Non-last Click based, don’t take into consideration the additional data-driven insights into how your customers are converting. With research from the Boston Consulting Group highlighting the importance of first-party data, Data-Driven Attribution algorithms leverages your available data to get more accurate insights and reporting, leading to better performance
  • Campaign Manager 360 (CM360) allows you to generate cross channel Attribution across your digital media, paid search, analytics & creative
  • Traffic from natural (organic) search can also be attributed with conversion credit – Data-Driven Attribution provides a more holistic view of your customers path to conversion
  • Through this cross-channel Attribution you are able to more efficiently and effectively drive multi-moment marketing with your customers and the Digital Marketing Maturity of your organisation
Data-Driven Attribution

How to set up Data-Driven Attribution in Campaign Manager 360

To set up Data-Driven Attribution, you need to use the Attribution Modelling Tool in Campaign Manager 360 (CM360):

  1. Within Campaign Manager 360, go to Reporting & Attribution > Attribution.
  2. Select a Floodlight configuration
  3. Click Attribution Modeling Tool in the left hand menu
  4. Unless you have previously set up Data-Driven Attribution, a default model will appear. Click the dropdown next to the default model, at the bottom of the list select Create new Data-Driven model
  5. Name your model. Note: Include the day's date
  6. Select all conversion-based Floodlight activities i.e. don't include Floodlight activities created only for audience lists such as Dynamic Remarketing
  7. Choose Basic Channel Grouping or Custom Channel Grouping
  8. Set a custom lookback window
  9. Click Save
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While many organisations, and in fact industries having different approaches and philosophies to Attribution, leveraging a data-driven approach provides organisations with the ability to improve decision making and use sophisticated algorithms to generate more conversions from the same media or search budget.

For consultation or support on your organisation’s Attribution strategy or Data-Driven Attribution within Campaign Manager 360 (CM360) or other platforms in the Google Marketing Platform, contact the FiveStones team today.