– The key to ecommerce attribution is converting more people.
– To identify the quality of the audience, collect data relevant to the customer journey, such as high intent zero party data.
– Compare the conversion rates of similar quality audiences driven by individual channels to understand which channel has more value of quality people.Collect data on the quality of your audience by gathering real data from customers when they sign up, known as high intent zero party data. Use this data to understand where your quality traffic is coming from and focus on strategies to improve conversion rates and attract more quality visitors. Compare the conversion rates of similar quality audiences driven by individual channels to determine which channels are driving the highest quality visitors.The secret to e-commerce attribution is simply converting more people. All things being equal, the source of traffic shouldn’t impact your conversion rate unless you have different offers being used by each source. Assuming the same offer to every channel, your conversion rate should be the same across the same quality audience. Now here’s the part that most people don’t understand because they don’t know the quality of the audience. To identify the quality of the audience, you need to collect data relevant to the customer journey. This isn’t clicks, time on page, etc. This is real data provided by a customer when they sign up. This is also known as high intent zero-party data. These data markers largely determine the likelihood of conversion based on intent. When you look at these data markers broken down by source or by form, and then broken down by source relative, you can start to understand where the quality audience comes from, what makes them quality, and what forms they are most likely to fill out. Once you establish the global trends of data relevant to revenue, order count, and conversion rates, you now have a baseline of comparison to understand how individual channels are performing relative to the baselines. This will then allow you to understand where your quality traffic is coming from. So, as it turns out, attribution has nothing to do with sales but instead understanding which channels are driving the highest quality visitors. Your conversion rates, which people are using to make ad decisions, are being confused with attribution. That attribution is a function of how well your website and offers are laid out. Stop trying to game an algorithm; it’s not possible to do. Instead, focus on a strategy that allows you to collect data, understand how the quality of a visitor works, and build strategies using that data to improve your conversion rates and get more product in hand. Then compare the conversion rates of similar quality audiences driven by individual channels. Are they in line? Is the advertising different per channel? Which channel has more value of quality people? Because at the end of the day, similar data markers should convert at similar percentages. #ecommerce #data #attributionhttps://www.linkedin.com/in/jivanco