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Data Driven Attribution unlocks additional conversions by finetuning generic paid search spend
Technology Category
- Analytics & Modeling - Predictive Analytics
- Analytics & Modeling - Real Time Analytics
Applicable Functions
- Sales & Marketing
Use Cases
- Demand Planning & Forecasting
- Predictive Quality Analytics
Services
- Data Science Services
The Challenge
HomeAway, an online vacation rental marketplace, wanted to better understand the impact of paid search (both generic and brand) and display on conversion likelihood. Their goal was to drive site visits that convert to inquiries on the properties listed on their website. However, traditional Last Click models did not provide the full picture of the customer journey and the impact of different marketing channels. Therefore, they needed a more comprehensive approach to attribution modeling, which assigns credit to different consumer interactions that take place prior to a sale or lead.
About The Customer
HomeAway, Inc. is an online vacation rental marketplace that connects homeowners and property managers who advertise their properties available for rent to travelers. HomeAway is the world’s leading online marketplace of vacation rentals, with sites representing over 775,000 paid listings of vacation rental homes in 171 countries. Their business model is to provide a marketplace for homeowners and property managers to rent to individuals for the purpose of vacation renting. To strengthen the footprint of their demand side, HomeAway works to fine-tune their marketing strategies to drive site visits that convert to inquiries on the HomeAway website, the first step in the process of renting a property on the HomeAway marketplace.
The Solution
HomeAway collaborated with Google to implement the evidence-based approach of Data-Driven Attribution in Google Analytics Premium. This approach accurately credits campaign interactions, providing a more complete understanding of the customer journey. Using the Model Comparison Tool report in Google Analytics, HomeAway identified a set of keywords that drove more inquiring visits. They then increased the spend on these keywords and used Google Analytics to evaluate the impact. The test budget of USD 6,000 helped drive 23% more attributed conversions by the selected keywords, allowing HomeAway to progress further on the yield curve towards optimal spend effectiveness.
Operational Impact
Quantitative Benefit
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