Tracking duties are not very sexy for most of us, however this activity is fundamental to understand how to drive investments and maximize the impact of each penny we spend to reach our objectives.
Tracking has been the main revolution of the online marketing. In fact, compared to traditional media, we now have a wide range of metrics and KPIs that aren’t available on TV, radio or billboards. Nowadays, by investing in digital advertising, we can know how many people saw an ad, how many people interacted with it, etc.
The previous generation of marketers was not used to that, and the measurement capabilities together with the growing audience are the main reasons behind the increasing investments in digital.
Having said that, performance measurement is not as simple as it appears; other than choosing the relevant KPIs for the business, it is crucial to define the right accountability method.
Like a traditional balance sheet, also digital performance measurement can be declined in different ways according to 3 main conditions:
- Business model
- Consumer behavior
- Available KPIs
In this landscape, the prominent attribution models are:
- Last click: the conversion is attributed to the channel that generated the click driving the consumer to the website during the conversion session.
This method is not extremely accurate but it’s pretty easy to implement by using common Analytics and utm tags, therefore almost every company has started from there.
- Multipoint: the conversion is attributed to each channel according to the impact they had in transforming the user into a client.
This method doesn’t consider the concept of session since it can be also linked to an offline event.
The transition to the multipoint attribution is very important because with the last click attribution the weight of some channels (especially display) is underestimated compared to the “classic” SEM. In truth, SEM alone is not able to drive the critical mass obtained by using it in coordination with other channels, despite of having the best ROI from a last click point of view.
The Multipoint attribution model is declined in several ways (and naming) and many companies are focusing their business on this by offering very precise measurement capabilities but also flexibility in describing the weight of each channel/point.
Facebook definitely belongs to this group of companies that is moving tracking forward. Several tools were provided by Menlo Park to allow advertisers to have a better understanding of their investments like the universal pixel, advanced matching, SDK, cross-device report, etc.
The switch towards tracking and digitalization is not easy. At MakeMeReach we know that and we are committed to support young startups and established corporations in these steps by helping them in implementing native instruments from our Partners, but also going above that.
When it comes to tracking, we identified some specific needs:
- Reduce the time spent in implementing it and in analyzing it
- Possibility to use cross-channel metrics/tools rather than a specific instrument for each publisher
- Use several models at the same time to obtain an extensive and powerful overview
Our product is conceived to satisfy those needs. In fact, we integrated it not only with Facebook, Twitter or Snap environments, but we do also support other major third party trackers (among them Eulerian, DoubleClick, Appsflyer and Adjust).
This means that clients have all the relevant data from different providers in one panel so to be allowed to structure the best strategy and apply proper optimizations.
Additionally, we went the extra mile by developing systems that are automatically tagging different items dynamically to minimize manual workload.
All these integrations are covering not only a reporting need, but also an optimization need. We have indeed developed learning automations that can improve campaigns’ performances by using the information we extract from several different partners at the same time.
Moreover, since the tracking landscape is evolving quite fast, we provide our clients the ability to integrate emerging tracking tools within few days so to facilitate the performance measurement tasks.
Some of our most advanced clients, rather than using a generic tracking tool that can be found on the market, have developed their own tracking instrument which is adapted to their specific business need. For them, we developed a server to server tracking system which allows to send us the conversion data from their own tracking tools, matching the incoming info with the relevant source of conversion to allow a proper reporting and optimization.
If you want to make the most out of your social advertising, but you’re still struggling in identifying the most meaningful attribution model for your business, feel free to drop us a line and our consultants in the Customer Success team will guide you in this endeavor.