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Solving the IOS 14 Attribution Problem Using Triple Whale - Honest Ecommerce Bonus Episode

On this bonus episode, we talk about the attribution problem brought by IOS updates and how to fix them using Triple Whale, and a preview into how Electric Eye uses Triple Whale in action with real numbers.

In This Conversation We Discuss: 

  • [00:00] Intro
  • [01:41] How AJ used to run ads before Triple Whale
  • [02:52] The health of your business depends on blended ROAS
  • [03:23] Clarification about IOS 14
  • [03:46] Performance degraded because FB lacks customer info
  • [04:08] What made the FB platform better
  • [04:42] FB is challenging to run for brands
  • [05:41] Why AJ founded an attribution company
  • [06:10] Triple Whale tries to provide the lost visibility from FB
  • [06:32] The Triple Whale Pixel is not yet the be-all, end-all
  • [07:33] What is Pixel and why does your business need it?
  • [08:36] Why is Triple Whale different from Facebook?
  • [10:06] The Pixel is good but not simple
  • [10:45] How Electric Eye uses Triple Whale
  • [11:20] The Forecasting Calculator
  • [13:00] ROAS, CPA, and AOV on the Summary Page
  • [15:16] The Triple Whale Pixel
  • [15:46] Taking advantage of the Channel Overlap
  • [17:00] Inventory management dictates paid ad spend
  • [18:39] Client compatibility through Triple Whale
  • [19:19] The misalignment in attribution causes distrust
  • [20:47] How Facebook can get away with messy attribution
  • [21:37] Attribution Model Comparison
  • [23:01] Other features that are coming to Triple Whale
  • [23:54] The Customer Journey feature
  • [24:24] Web domain shenanigans
  • [24:45] Triple Whale’s Mobile App
  • [25:56] What differentiates Electric Eye from other agencies
  • [27:16] Electric Eye’s Brand Scaling Framework
  • [28:18] Scaling is achieved through harmony in teams

Resources:

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Key Points: 

  • Don’t depend on a single source of ROAS. It’s always preferable to have a blended ROAS.
  • Facebook can still see the data, they just can’t use it the way they used to.
  • The Facebook platform is better than most platforms because it figures out what people’s preferences and serves out the best ad based on those preferences with the right price
  • Understanding your ads is more important now more than ever.
  • Triple Whale answers these questions for you: Where should I spend my money? How much should I scale? And how do I improve my business?
  • Facebook Pixel is like a camera that tracks you and captures your information when you are in the store. When you come back, the store will still recognize you because of the information from the Pixel.
  • Electric Eye’s top KPIs for paid media using the Triple Whale Summary page is the NC-ROAS (New Customer Return On Ad Spend) and NCPA (New Customer Cost Per Acquisition)
  • Determine how much budget you need to add to what is currently being spent. It’s about balancing acquisition, ROAS, and AOV.
  • The most crucial part of attribution is the overlap between channels. It determines exactly where customers are coming from, how channels interact with each other, and really helps with budget allocation.
  • Instead of just abandoning underperforming channels, find out ways for the channels to interact better to achieve the desired returns and sales goals.
  • Even with a higher ROAS, scaling is only achieved if there are allocated budgets for it, especially to speed up production
  • Inventory management is very relevant to paid ads
  • A big consideration among agencies is the capacity of the brands to boost production if they suddenly get an increase in sales due to marketing
  • Agencies can also use Triple Whale to determine if it’s worth working with a specific client
  • The different attribution models between channels causes marketers to distrust some of the information
  • Triple Whale helps build that trust back by having the attribution data come from the store itself, not from a channel that will benefit from that attribution 
  • The only reason why Facebook can get away with a bad attribution model is because there are virtually no competitors
  • As omnichannel gets implemented more and more, Facebook has to really step up their game for ad buyers
  • Triple Whale’s Attribution Model Comparison and Fractional Attribution features visualize and helps people understand how different attribution models interact with each other
  • The Triple Whale Pixel is going to have a new feature coming soon. It can now be split into 4 screens: Ads Dashboard, Email and SMS Dashboard, Influencers/Affiliates Dashboard, and Social/Organic Dashboard. UTM schemes will be provided to all the dashboards. And the 4 dashboards will be consolidated into the “All Dashboard”.
  • People who use the Triple Whale Pixel should be “religious” in the implementation of UTMs
  • Electric Eye works best on small ecom businesses that need spark to grow exponentially
  • Electric Eye offers help on website UX, owned and paid marketing, and so much more
  • Website performance is very important for ads
  • Electric Eye has the Brand Scaling Framework that scales your brand from $1M per year to $10M per year
  • The top 3 KPIs that the Brand Scaling Framework focuses on are the conversion rate, AOV, and sessions
  • Increasing a couple of dollars in AOV can unlock hundred of thousand of dollars in ad spend