“The first step is admitting every attribution method is wrong…some are just less wrong.”
We were excited to have Scott Breitenother, Director of Data and Analytics at Casper, give a presentation titled “A mattress company’s first steps into big data -using multi-touch attribution” as part of our Big Data segment at America’s Customer Festival 2015.
Data and mattresses – where do they connect and why do we even have Big Data? During his session, Scott discussed the importance of using an attribution platform for your website to track where your sales are coming from. It’s important to know how to optimize and how to find out what’s working, and that requires an attribution model that works – not just one that assigns sales to the first or last step, or even one that distributes them between each stage of the sales process.
Attribution can be complicated because each provider wants to claim more sales than they’re necessarily responsible for – if you add up the total sales across different platforms, it will be higher than you actual sales.
Algorithmic platforms serve three purposes – user interface, cost integrations, and attribution model. Casper utilizes algorithmic attribution, which uses regression to look at all the customer paths and gives all the touchpoints credit while making them prove themselves instead of just assigning an evenly distributed value for each one. Their attribution platform, Convertro, has given them a holistic lens to view the customer.
Convertro allows Casper to analyze time to order, touch points, cross-device paths, and channel overlap. It also carries the added benefits of faster reporting and customer-level data. To sum it up, Scott says “We’re really happy with it, and I’m glad we can share it with you”.
If you missed this presentation at today’s America’s Customer Festival, it’s a real shame! Don’t make the same mistake next year – make sure to register for America’s Customer Festival 2016!
Contact Andre Singer at +1 616 619 1797 or firstname.lastname@example.org to find out how you can get involved for next year’s event.