Google recently announced two new data-driven attribution features:
- A simulation tool that allows advertisers to estimate the impact of switching to data-driven attribution. This tool can be used to compare the performance of different attribution models and see how they would affect conversion rates and return on investment (ROI).
- Support for app conversions. This means that advertisers can now use data-driven attribution to measure the impact of their app campaigns on in-app conversions.
In addition to these new features, Google also announced that it will be expanding support for data-driven attribution to Discovery formats (including those in Performance Max) next year.
What is data-driven attribution?
Data-driven attribution is a type of attribution model that uses historical data to assign credit to each marketing touchpoint in the conversion path. This is in contrast to traditional attribution models, which use predetermined rules to assign credit.
Data-driven attribution is considered to be more accurate than traditional attribution models because it takes into account the entire conversion path, not just the last click. This means that it can identify which channels and campaigns are most effective in driving conversions.
How does the new simulation tool work?
The new simulation tool allows advertisers to estimate the impact of switching to data-driven attribution. This is done by comparing the performance of different attribution models under different scenarios.
For example, an advertiser could use the simulation tool to see how switching to data-driven attribution would affect their conversion rates and ROI if they changed their bidding strategy or added a new marketing channel.
The simulation tool is a valuable tool for advertisers who are considering switching to data-driven attribution. It can help them to understand the potential impact of this change and make an informed decision.
How does data-driven attribution work for app conversions?
Data-driven attribution can now be used to measure the impact of app campaigns on in-app conversions. This is done by tracking the user’s journey from the first ad click to the in-app conversion.
The data-driven attribution model for app conversions takes into account a number of factors, including the time between ad clicks, the device used, and the app store. This allows advertisers to get a more accurate view of the contribution of each marketing touchpoint to an in-app conversion.
What are the benefits of using data-driven attribution?
There are a number of benefits to using data-driven attribution, including:
1. More accurate view of the contribution of each marketing touchpoint to a conversion.
2. Identification of the most effective channels and campaigns.
3. Optimization of the marketing budget.
4. Increased return on investment (ROI).
How to get started with data-driven attribution
To get started with data-driven attribution, you will need to:
1. Enable data-driven attribution in your Google Ads account.
2. Collect enough conversion data to train the model.
3. Monitor the performance of the model and make adjustments as needed.
Conclusion
The new Google data-driven attribution features are a valuable addition to the Google Ads platform. These features make it easier for advertisers to understand the impact of their marketing campaigns and optimize their budgets for maximum ROI.
If you are not already using data-driven attribution, I encourage you to give it a try. It can help you to improve the performance of your marketing campaigns and get more out of your advertising spend.