What is Attribution Modelling
A record of user actions (events or touchpoints) that result in the desired outcome.
Also known as multi-touch attribution.
Think of it this way.
A customer can have hundreds of interactions with a brand. Before ever making a single purchase. Sure, you might know what landing page a customer converted on. But what about all the social posts content and site pages.
Don't they influence their decision to buy?
All these interactions should change how you allocate resources. So you can maximise ROI. But this complex buyer journey makes your job harder. And it means you need a more sophisticated way. To measure what channels and assets are creating sales opportunities. That's why marketers are relying on Attribution modelling.
Attribution modelling is a set of rules for assigning credit to the various touchpoints. In the conversion path. It helps marketers understand trends. And how prospects move through the path to purchase. There are a couple of different Attribution models out there. And depending on the product you sell and the length of your buying cycle. One model might make more sense than the other.
Let’s review a few of the most common types.
First touch Attribution is where 100% of the credit. Is assigned to the page that originally drove the visitors to your site. This model does over emphasise top of the funnel marketing efforts. But it's an easy way to know what exactly is attracting people to your brand.
Last Touch Attribution signals at the first touch point of the most recent visit. So, the visitor views a blog post. Click’s the call to action (CTA) and converts on a landing page. The blog posts will receive the credit.
The Last Interaction Attribution Model gives credit to the touch point. Where conversion directly occurs. Use this to determine the effectiveness of your landing pages.
First and last interaction is equal credit to the first and last touch points..
A simple Decay Attribution Model assigns a weighted percentage of the credit. To the most recent touch points. Use this if your buying cycle is short. As it is assumes the assets the prospect interacted with close to the time of sale are the most important. In the purchasing decision.
Linear Attribution Model gives equal credit at every interaction. During the buyer’s journey. So, an end person event is given the same weight as a click on a banner ad.
Multi-Channel Attribution Modelling can be complex.
But you won’t truly know if you're spending your time and resources. On the right marketing activities without it.