Are you SURE you need that attribution tool you're paying for?
I'm not. The closer I've looked at the performance of the brands that I work with, the more convinced I have become that third party attribution tools don't provide incremental insights at best and are overtly misleading at worst.
Today on the show I make the case that you should carefully evaluate whether or not your attribution tool is actually providing you any value–and I'll tell you exactly how I do that with my clients.
EPISODE HIGHLIGHTS
- [2:22] What is an attribution tool?
- [4:33] Functions of attribution tools.
- [6:03] Rise of attribution tool as a result of iOS 14.5.
- [8:03] How to assign credits to ads.
- [10:13] You're bad at decision-making; machine learning isn't.
- [13:43] Why simple media mixes mean you don't need a tool.
- [16:51] Brands that may need attribution tools.
- [19:50] The relationship between consideration cycle & attribution.
- [22:39] 3 places to look instead of an attribution tool.
- [30:12] Is FB click attribution more accurate than attribution tools?
- [33:57] Why post-purchase surveys are useless.
REFERENCES FROM THE EPISODE
- Taylor Holiday's "Never Turn Off An Ad" video.
- Twitter thread about attribution tools under-reporting revenue.
- Guide to UTMs for Meta Ads.
- Andrew's "Don't Diversify Your Ad Spend" episode: Spotify
- Andrew's "Don't Diversify Your Ad Spend" episode: Apple Podcasts
PLACES TO FOLLOW UP WITH ANDREW
Music Intro: "Tell Me Mama" by The Devious Means
Music Outro: "Rusty Little Scissors" by The Devious Means
