Given that the average person spends roughly 5 hours a day online and visits over 10 different sites before converting, attribution modeling represents a vital aspect of account success. While identifying the right attribution model for your account can be a somewhat complex task, implementation within separate AdWords conversions will soon become much more streamlined.
According to a recent announcement by Google, improvements are on the way to allow attribution tailored to unique needs throughout an account. While digital marketers have been able to take advantage of Google’s Attribution Modeling Tool since 2014, an update slated for the end of the month will open the doors for varied attribution models based on unique conversion actions.
A simple drop down menu within the conversion settings allows advertisers to select one of six different attribution models. These options include:
- Last click
- First click
- Time decay
When a new model is selected attribution credit will be reassigned across the conversion path for all Search or Shopping ad clicks. As one would expect, this will also alter the way conversion stats are recorded moving forward.
Given this new attribution option at the conversion level, users will retain an enhanced ability to adjust bids based upon the unique conversion paths found throughout an account. Bid optimization to reflect the new model will occur automatically for campaigns that are currently operating with automated bidding.
For the first time in AdWords, advertisers with sufficient data will be able to select the data driven attribution model. Although previously available in Analytics 360, Attribution 360, and DoubleClick, this model uses machine learning to evaluate all the converting and non-converting paths across your account. From there the system identifies the proper credit for each integration. The model considers a wide array of factors including number of ad interactions, order of ad exposure, and individual ad creative to determine which keywords and clicks are most effective at driving results.
In order for the model to work effectively, it will require a baseline of at least 20,000 clicks and 800 conversions within 30 days. If traffic is not sufficient to meet these demands the data-driven model will not be visible in the drop down menu.
For additional tips and best practices regarding this update feel free to references Google’s new best practice guide.