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Instapaper: Monday, Sep. 2nd

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Seven out of every 10 shoppers who added items to an online cart didn?t actually make the purchase. A lot of those shoppers went off to search for a better price, or maybe a coupon or a savings code. Source: Google Think Insight and ZeroMomentofTRuth.com So if you want to retain existing customers through attribution modelling then consider investing in following ZMOT sources which mainly help in retaining customers: Remarketing Loyalty, rewards and cash rebate Coupons and offers User engagement
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 602-607 | Added on Tuesday, 3 September 13 16:29:45
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8. Understand Customers Purchase Journey Understanding customers purchase journey is the no.2 requirement to fixing the attribution problem.  Well not just the attribution problem but almost every other problem of your business and marketing. You need to define your target audience (age-group, gender, education, income, likings, ethnicity, lifestyle, geo location etc). You need to understand their decision making process, their desires and expectations, level of product use, most common objections and above all their buying triggers. All of this knowledge and insight will help you in better data interpretation and eventually better allocation of your marketing budget across channels. Interview your client, customer support and the sales people. Understand the decision making process Understand ZMOT Use data from ?Google Think? Do Market Research To learn more about understanding this customer journey, read this article: 6 Keys to Digital Success in Attribution Modelling
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 630-638 | Added on Tuesday, 3 September 13 17:42:06
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A complex attribution model can be defined as the model which The only one who can understand it is you or The only one who can explain it is you or The only one who can use it is you. Takes several months to compute once and then another several months to compute second time If you have such model then you won?t get adoption from decision makers, you will get resistance.  To get a buy-in, the decision makers must know what you are planning to do with the company?s resources.
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 619-623 | Added on Tuesday, 3 September 13 17:40:04
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To understand why the role of assisting marketing channels change all the time, please read the article: Web Analytics Historical Data ? what you should know about it
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 614-615 | Added on Tuesday, 3 September 13 17:39:46
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In attribution modelling, success doesn?t come from the level of insight you get from attribution models but from your ability to make timely changes.
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 487-488 | Added on Tuesday, 3 September 13 02:16:57
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you need to determine that if you invest in multiple ZMOT sources which mainly help in acquiring new customers, then how much incrementality does each ZMOT source can bring in acquiring new customers.
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 590-591 | Added on Tuesday, 3 September 13 14:13:42
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2. What Problem you are trying to solve through attribution modelling?
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 435-436 | Added on Tuesday, 3 September 13 02:12:31
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4. Intra-Channel Attribution issues ? It refers to the situation in which multiple websites within a channel are impacting conversions but the impact can?t be easily measured and reported.  For example within social media you might want to know, whether you should invest more in Facebook or Twitter.
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 448-450 | Added on Tuesday, 3 September 13 02:12:22
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1. Organic Search2. Paid Search3. Display ads4. Affiliates5. Product reviews6. Word of mouth7. Comparison Shopping8. Social Shopping
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 589-590 | Added on Tuesday, 3 September 13 14:11:24
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The conversion path of a new customer may look something like this: Here moneysavingexpert.com and slickdeals.net are ZMOT sources. Exposure to these ZMOT channels are more important for your customer than the exposure to organic search listing and visiting your website directly as ZMOT sources shaped your customer?s buying decision. Consequently these two ZMOT channels should get more credit for conversion and more budget should be allocated to them than organic search and direct traffic. Following are the examples of ZMOT sources which mainly help in acquiring new customers.
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 584-589 | Added on Tuesday, 3 September 13 14:11:12
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There is no attribution without understanding ZMOT Zero Moment of Truth or ZMOT is the moment which occurs after the customer has been exposed to your brand, but before a purchase is made. I have talked about ZMOT in great details, first in the article: How to use ZMOT to increase Conversions and Sales exponentially and then in the article: 6 Keys to Digital Success in Attribution Modelling
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 568-572 | Added on Tuesday, 3 September 13 14:09:00
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You need to understand and make others understand that: Attribution is not panacea All Attribution models have got ?missing touch points?. Data integration is the key to fixing attribution issues Attribution is much more than Google Analytics There is no attribution without understanding ZMOT Not all touch points are equally valuable Not all conversion paths/channels mix are equally important for attribution Focusing on a single channel is not attribution Attribution modelling is not a onetime activity Complex attribution model = no adoption Attribution models are subject to personal biases
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 553-559 | Added on Tuesday, 3 September 13 14:07:48
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If you go around talking about attribution with everybody from managers, colleagues, supervisors to cleaners in your organization, you would be surprised how quickly you make enemies. People won?t appreciate you for your efforts to increase ROI across all marketing channels. They will probably hate you for deciding their bonuses, perks and future salaries or in worst case scenario losing their jobs. That is why it is critical that you don?t even discuss attribution with just anybody and involve only the right people at the very top in the buy-in and implementation process from the very start to the end.
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 546-550 | Added on Tuesday, 3 September 13 14:07:06
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Getting buy in from the right people is also important because Attribution can effect employees? salaries and bonuses. It can result in firing of employee(s) or in worst case scenario, closure of entire department(s).When you are talking about attribution, you are basically talking about ?Who gets credit and what gets credit?
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 539-542 | Added on Tuesday, 3 September 13 14:06:12
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the most common data collections issues in Google Analytics: Invalid Google Analytics Tracking Code (GATC) formatting Invalid GATC casing Adding GATC from another account/profile Web pages missing GATC No unfiltered profile No test Profile Internal traffic is not excluded Query parameters in Analytics reports Too many Profile Filters No set up for goals and goals? value
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 516-520 | Added on Tuesday, 3 September 13 14:03:36
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Non-Ecommerce WebsiteIn case of non-ecommerce website, all conversions happen offline via phone calls, store visit etc. These websites don?t generally have any macro conversion (like placing an order) but only lot of micro conversions (like downloading a brochure, watching a video, request for follow up etc). Often such websites are set up to fight for a cause (animal rights, child rights etc) or to sell very high priced items (like properties, cars, yacht etc). If you are doing marketing of such website then how you will report the value you have added to the business bottomline without fixing the attribution problem, without proving that your online efforts are really impacting the offline conversions. Related Post: How to determine Monetary Value of Non ecommerce Conversions
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 429-435 | Added on Tuesday, 3 September 13 00:05:47
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Multi-channel RetailersMulti-channel retailers are those who do multi-channel marketing both online and offline. They promote and often sell their products through online and offline marketing channels like TV, Radio, Billboards, SEO, PPC, Email, Social Media etc. Nobody needs attribution modelling more than the multi-channel retailers. If you are a multi-channel retailer than you have attribution problem.
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 426-429 | Added on Tuesday, 3 September 13 00:05:22
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Long Sales CycleLong sales cycle means large amount of consideration is involved in purchasing your product. So multiple visits to your website by the clients is inevitable. And when multiple visits are involved in the sales cycle then you are bound to have attribution issues.
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 424-426 | Added on Tuesday, 3 September 13 00:05:10
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If 90% or more of your transactions come from one or two visits, you probably don?t have attribution problem.  If on the other hand, significant percentage of your sales results from multiple visits, you probably have attribution problem.
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 422-424 | Added on Tuesday, 3 September 13 00:05:00
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90% of your conversions come from one or two visitsCheck the ?visits to transactions? report (under Conversions > Ecommerce > Time to purchase in your Google Analytics account) of the last 6 months.
Instapaper: Monday, Sep. 2nd - Instapaper - Your Highlight Location 421-422 | Added on Tuesday, 3 September 13 00:04:04
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