BKV Makes Attribution Optimization Advancements with “Full Click” KPIs
BKV, a leading direct and digital marketing agency in Atlanta, announced new advancements this week within their Scientific Attribution™ services. While BKV has been developing attribution models for some years, they recently deployed a new method to derive more actionable model results from day-to-day media optimization. BKV develops quarterly attribution models to help identify assist keywords within their search campaign for several of their clients. Such models also help to determine the total value of each term across all user interactions. BKV has applied those model-derived values to optimize their search campaign. Through the causal model application, each keyword’s value is identified and then assigned an assist score. BKV developed a solution that creates a “Full Click” KPI (KPI being whatever metric is most important to an advertiser’s business: cost per sale, cost per conversion, etc.). As opposed to Last Click, this metric quantifies the total cost of all keyword exposures leading up to a sale, conversion or other relevant action. Because the model unearths differences between Last Click and actual Full Click KPI, BKV was able to hone budget allocations and invest in keywords that appeared to be poor performers, in turn shifting investments from keywords that had been inflated by misleading Last Click metrics.
Campaign efficiency appeared to improve by more than 20%; however, it was difficult to utilize the model scoring on a day-to-day basis, given that the optimization platforms (i.e., Marin, Dart Search, Adwords, etc.) only show the Last Click KPI. In order to facilitate search media optimization, BKV developed a customized field within Marin, which shows the Full Click KPI associated with each keyword. “Adding the Full Click KPI metric has allowed us to swiftly and easily optimize at both the campaign and keyword level without having to leave the Marin interface,” explains Katherine Jianas, Associate Media Director at BKV. “Keyword and campaign-level Full Click KPI values are updated based on a variety of factors – including cost per click, orders, assist value and efficiency – and are implemented on a monthly basis.” BKV’s Analytics experts also created recommended keyword spending levels so the agency could more efficiently and effectively monitor budgets.
Organizations everywhere are facing the same issue: They have access to vast amounts of data but are unsure of what to do with it – and how to make it quickly actionable. With Scientific Attribution™, BKV’s experts can mine an organization’s digital media data, applying statistical methods and predictive analytics to assess, measure and organize it. These analyses can quantify the impact of each digital media channel on sales while simultaneously drilling down to better understand specific channels. Only then are marketing investment allocation decisions made, resulting in improvements in budget efficiency and ROI.