2 Steps to Advanced Attribution: Because They May Not Know What It Is, But Your Prospects Love It
The "right time" isn't some mystical thing—it's possible to pinpoint it through attribution done right. And doing it right means understanding the effect your campaign has on consumers who don't click on ads, as well as those who do. Retargeting is often measured by the increase in "clicks," but pulling back the covers on this performance indicator reveals a flawed method. If we strictly look at impact-to-clickthrough rates, a 100 percent increase could mean that 2 percent of the people who viewed the ad clicked on it, versus 1 percent before retargeting efforts. Advanced attribution allows us to look at the other 98 percent and understand why they didn't click at all.
Even with insights into the best time frame to retarget, don't use that time to deluge your customers with ads. More impressions don't necessarily lead to more conversions. Frequency capping recommendations suggest serving between two and eight impressions in a retargeting campaign. By implementing frequency capping as well, you can avoid wasted impressions while maintaining optimal conversion rates.
2. Tailored Messages and Timing
Digital advertising offers a myriad of ways to tailor a message for a particular audience or potential customer, but it should be noted that tailored ads don't always perform better than generic ads. In the aforementioned study, we found generic ads were just as effective as tailored for the first 16 retargeted ads served to customers. Make sure you have an understanding of whether an investment in tailored ads will pay off or result in a waste of resources.
Advanced attribution also incorporates an understanding of where consumers are in the purchase funnel and what variables are effective at each phase. With this approach becoming more common, we now have a chance to examine cross-channel purchase funnels, taking all marketing touchpoints into consideration. For instance, funnel stage reports help marketers understand the complete purchase journey and analyze how influential the channel/campaign/creative was at each position within the purchase funnel.