Wayne, NJ (PRWEB) May 23, 2012
Google Analytics has revolutionized how marketing professionals review their Web properties, but experts are concerned about one type of modeling, called last-click, and its implications for analytical accuracy.
Most marketers use analytics to assign a dollar-value to a conversion, representing the lifetime value of the customer. With last-click modeling, all of this value is assigned to the method of entry, whether through social media, organic search, or pay-per-click ads, that resulted in this conversion.
This fails to recognize that techniques like remarketing, where a display ad follows a user around the Web via a cookie placed on the user's computer, can help build brand loyalty even if the user doesn't click on the advertisement itself. Simply reminding the customer of the brand adds to the likelyhood that they will eventually buy.
A new type of modeling, called Attribution Modeling, allows a marketer to assign values to each type of interaction that the brand has with the customer, representing a more thorough understanding of the way continued user engagement builds brands. A percent of the conversion value is assigned to organic results, some to pay-per-click ads and some to display ads, for example.
Google offers attribution modeling technology in their premium Analytics package, Google Analytics Premium, but it costs $150,000 a year at retail. The free version of Analytics does not offer modeling as a specific feature.
- Track your users with more depth than just the "last click" they made before purchasing
- Improve the accuracy of analytics by determining what kinds of marketing contribute to sales
- Accurately value your print, tv, radio, display, search engine marketing, SEO, and e-mail campaigns in terms of sales
- Save $150,000 a year, the retail price of Google Analytics Premium, which includes this feature as standard
Ballantine Digital is the Search Engine and Social Media Optimization department at The Ballantine Corporation, a leading direct mail solution provider since 1966. The Ballantine Corporation is located in Wayne, NJ and online at http://www.ballantine.com.