One of the key necessities for Attribution Modeling is successful analytics tracking and correctly tagging all your ads and campaigns. You need to have an appropriate measurement framework for Attribution to work in your favor. Why? It all relies on… wait for it… GOOD DATA!
There are four high-level concepts of analytics tracking that you need to understand before getting started:
Campaign Tracking – In which campaigns are your customers interacting with you? You will need to set-up tracking links to collect this data.
- Value Event – Actions that do not tie directly to a conversion, e.g. someone watching a video. Set-up Goals within your web analytics platform for tracking.
- Conversion Event – Tied directly to a baseline value-add on a website, i.e. form completion. These are also called micro-conversions and can be tracked by Goals.
- PII (Personally Identifiable Information) – Try building a framework that collects PII so you can attribute success at an individual level and optimize/personalize content along the journey.
See the diagram for an example of this framework. It is a visual way to see the purpose of every webpage, event, and action within any view. It tells you what value events you want as a result of these campaign investments. These are the building blocks for proper Attribution Modeling.