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Written by May 2, 2022

Shaping The New Gen Social: Digital Marketing Attribution Models

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Counting sheep? When some digital marketers can’t fall asleep, they count leads coming in from multiple unknown sources. But the reason some of them are up in the first place is the desperate need to figure out where those leads came from, and which of the multiple advertising channels caused them to finally hit “buy.” How do you know where to invest more if you can’t see clearly what’s working for you?

Marketing Attribution Mayhem

What is it that makes brands and agencies struggle with digital marketing attribution? Mainly the following:

  • Lack of visibility: The biggest issue for marketers is not having complete clarity into the process that led to a sale, offering clear insights across channels.
  • Lack of transparency: Each advertising platform counts conversions in multitouch user journeys in its own way. Obviously, there is a risk here that the process can be biased, as social media data can be skewed.
  • Lack of integrity: Facebook knows nothing about ads in Snapchat. Snapchat knows nothing about ads on Twitter, etc. There are a lot of intersections in a customer’s multitouch journey, but usually advertising platforms don’t have clear insights about each other.
  • Lack of precision: As a result, data is not integrated, and it is almost impossible to calculate precise CPA, ROAS and other conversion metrics taking into account the impact of all advertising channels on each occurred conversion.
  • Lack of affordable solutions: Taking into account all factors and getting precise data is impossible without specific software. However, attribution software can often be pricey and too complex.

We know that it takes on average eight touchpoints to close a sale, and complex transactions are likely to need more. So no matter in which business you are, attribution is your problem as well.

Thankfully, there are ways to tackle attribution.

First is the integration of dedicated attribution software. This way suits big companies which are willing to spend time and money on a big platform. It is the most obvious decision, but we can highlight for you a better, more creative way to solve your attribution dilemma.
And that is using Google Analytics as a source of raw data. Likely, you already have Google Analytics installed on your website, right? If not, it is very easy to do. And it is free! The trick is, Google Analytics collects all touchpoints happening on your website. However, this data is raw. It is unpacked and not integrated with your advertising data. Without such integration, this data doesn’t bring a lot of value.

How can Paragone help your attribution dilemma?

Paragone helps in 4 simple steps:

  • Paragone fetches data from advertising data sources as Facebook ads.
  • Paragone fetches data from Google Analytics.
  • It merges this data together, so each ad is attached to its performance according to Google Analytics.
  • Paragone unpacks data, merges it, delivers 5 different attribution models and coherent reports.

In the end, there is no need for one more big platform. You can just make the most from your Google and Facebook ads thanks to Paragone’s integration.

How Google Analytics helps with attribution tracking →

In Other Words: Meet Paragone AI

Paragone AI is a one-stop-shop that delivers all these advantages, giving digital marketers the ability to:

  • Focus on ROI by accurately measuring the actual revenue from a campaign’s ad spend, and to understand the difference between social media and Google Analytics performance results.
  • Identify the reasons for underperforming or successful campaigns, thus allowing you to adjust assets that do not meet expectations and build a solid digital marketing strategy per channel.
  • Combine the knowledge gained across channels to advance your brand’s overarching social media strategy.

“Each report, in essence, is just a table, but what is behind each table is important – The data that helps you to make the right marketing decisions.”

Dmytro Bilash, Product Manager at Paragone AI

Paragone AI manages to achieve all this by combining these capabilities:

  • A unified display for marketing media metrics from social media (spend, clicks, impressions) & conversion metrics from both social media and Google Analytics (purchases, cost/purchase) reporting features that are both detailed and easy to comprehend.
  • Validate your budget allocation strategy based on the difference between social media and Google Analytics conversion metrics via a user-friendly interface that’s up and running with just a few clicks.
    • You can select the desired attribution model
    • You can compare the social data with the data from Google Analytics to uncover interesting insights
    • Example, here we can see the number of purchase for this campaign reported in Google Analytics is about 60% of those recorded on Facebook
    • You can then dive further into each and ad and identify gaps per campaign
  • Complete visibility of cross-channel marketing activities with an in-depth drill-down of different performance metrics and creative assets.
  • Customizable dashboards tailored to meet the brand’s needs, because digital marketing isn’t a one-size-fits-all arena.

Digital marketers are well aware of the issues presented here, but not all of them know that a suitable solution is within reach. Many continue to struggle with partial data that demands hours of work and still delivers vague insights at best. Instead of losing sleep because of attribution-related concerns, embrace the dream platform that solves them.

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