How do you measure the impact of influence? More importantly, what’s the best way to measure such a fuzzy concept using an analytical approach?
As marketers have been complementing their bread-and-butter search advertising efforts by adding new tactics into the marketing mix, whether it’s social media native ads, rich media banners, mobile in-app interstitials, or desktop and mobile video ads, it’s increased the spotlight on the sticky issue of attributing conversions properly across different channels. It’s especially relevant for the aforementioned tactics, because none of them are particularly well suited for measuring via click-through conversions alone.
Measuring view-through conversions has quantifiable benefits on the bottom line
There are three powerful reasons for making a proper view-through attribution model a high priority:
1. View-through conversions are a better representation for upper- and middle-funnel performance than click-through conversions. Display ads are renowned for their epically terrible click-through rates. But rather than dismiss the medium as a poor performer, it’s important to understand that most display ads are typically served further up the conversion funnel to help move the customer closer towards making a decision. Measuring them on click-through conversions alone is akin to measuring search ads solely on how many customers it drives to the store. It’s important to use the right metric for the right situation.
2. Proper view-through attribution can lead to increased search lift. The positive impact of display and social advertising on search activity and conversions is undeniable. It’s been proven by a number of different studies over the past several years. Accordingly, if we understand the assistive impact of display and social on search, then it’s important to properly measure their impact in order to make the right investment across the different channels. If a $1 spent on a Facebook ad leads to an extra $5 within the search channel, that’s something you’d definitely want to know.
3. Measuring view-through conversions improves optimization efforts. What if the very small percentage of people clicking on your display ads didn’t represent your very best customers? What if half the clicks on a mobile ad were from people with fat finger syndrome? And what if you optimized all your future spend on trying to acquire all these wrong types of people? Advertisers who optimize based on click-through conversions alone find themselves in this conundrum.
This is just the beginning. While view-through attribution doesn’t have to be complex (on the contrary, it’s actually quite straightforward to set up properly!), it does require an understanding of its business rationale, as well as some of its limitations. To learn more about view-through attribution, including the two-step process for how you can set them up for maximum success, download the white paper here.