When looking at a conversion path, assigning sales to touch points is important to understand what actually contributed to the final conversion in the marketing funnel. When working through multiple channels, deciding the percentage of credit each source can help in defining the effectiveness of your multi channel strategy.
At a glance, this graphic paints an overall picture of how this idea is utilized:
Types of Data Attribution
Google Analytics maintains a guide detailing the types of ways to attribute a conversion. I’ve gone through and summarized each model.
Last Interaction – The last point before conversion gets 100%.
Last Non-Direct Click – 100% of the credit for the sale goes to the last channel that the customer clicked through from before converting.
Last Google Ads Click – Google Ads click first and only click to the Paid Search channel gets 100% of the credit.
First Interaction – the first touchpoint gets 100% of the credit for the sale.
Linear – each touchpoint in the conversion path shares equal credit.
Time Decay – the touchpoints closest in time to the sale or conversion get most of the credit.
Position Based 40% credit is assigned to each the first and last interaction, and the remaining 20% credit is distributed evenly to the middle interactions.
Full Path – tracks every marketing effort that a person experiences, including the customer close touchpoint. This lets marketers see precisely what works and what doesn’t for any particular consumer.
Custom – Rather than using one model exclusively, combining features of each model. Companies create their own model to suite what makes sense for their marketing strategy.
Benefits and Challenges of Attributing Touch Points
- Gives you additional insights into your marketing funnel and the influences into what is influences your customers to make a purchase.
- This can help you get a higher ROI in your marketing efforts.
- A single touch model doesn’t give you the entire picture and may mean attributing success to a process that isn’t the main reason for the purchase.
- There are a lot of expenses that go into the process of tracking all touch points.
- It is hard to track offline touch points to consider into your attribution.
- Other factors can influence your attribution such as pricing, seasonal, competition, all which are hard to reflect in an attribution model.
Understanding the Touch Points of a Sale
A study by Cisco found that “successful brands seem to be converging around broadly similar touch points to listen, engage, enhance the brand experience, create personalized transactions, and lock in customers.
Keeping this in mind, a sale can be attributed to a number of factors, just one reason why we need to keep in mind a multi attribution model, so that we can understand how each touch point contributed to the overall sale.
When To Implement Multi Attribution Strategies?
- If you use a combination of different ad networks, and outreach methods it would be good to consider using a multi attribution strategy.
- When you want a more advanced look into your strategy and come up with advanced ways to attribute the different stages of your marketing process.
- When you want to attribute a combination of offline and online ad techniques.
- When you’re looking to improve your overall funnel process combined with paid marketing activities.