Summary: Digital Marketing & Analytics Week 3

Read the summary and the most important questions on Digital Marketing & Analytics Week 3

• 1 Clip 1 - Attribution - Concept & Types

• As an outcome of having multiple online and an offline touchpoint, it becomes important to figure out which touchpoint we should focus on. What is the eventual final aspect that you are looking at for each touchpoint?

  Attributing conversion value to the touchpoint.

• Let's say that there are three ads, as presented in the picture to the left, what do the percentages to the left tell us?

  The individual effectiveness of each of the touchpoints.

• What is considered to be a conversion when it comes to a touchpoint on a webpage?

  Sales from the website.

• What is the main question to be asked when it comes to Attribution?

  Which touchpoint is more influential-valuable to convert customers?

• What is the purpose of attribution?

  To quantify the influence each advertising impression has on a consumer's decision to make a purchase decision, or convert.

• 1.1 Summary of the Questions

• List the 3 questions that are to be asked when dealing with Attribution?

  1. Which touchpoints are influential? 
     
  2. Does it matter if a person sees or comes across more touchpoints vs. A person who has come across fewer touchpoints? 
  3. Does it matter, where the touchpoint is positioned? 

• 1.2 Attribution Model Types

  This is a preview. There are 2 more flashcards available for chapter 1.2
  Show more cards here

• What does the Single Touch Model Type attribute credit to? Which 2 options are there?

  1. First click analogy: entire attribution is given to the first touchpoint (the ad you saw first);
     
  2. Last click analogy: attributes everything towards the last touchpoint before conversion.

• Where does the Rules-Based Model assign credit to? It takes the Single Touch model a little bit further. List the 4?

  1. Uniform Distribution;
     
  2. Positioned Based;
  3. Custom Weights;
  4. Time Decay.

• What are examples of the Statistically Driven models? List 2.

  1. The Regression models; 
     
  2. The Probablistic models.

• What do many companies do when it comes to Attribution Models?

  A lot of companies use multiple approaches, not just single approaches.