ATTRIBUTION MODELLING
Attribution modelling is the process of determining the most effective marketing channels for investment. It aims to allocate credit to the touchpoints in a customer journey that ultimately led to a sale.
There are various attribution models, including Last-Click Attribution, which credits the last touchpoint before the sale, and First-Click Attribution, which gives credit to the first touchpoint in the customer journey. Other models include Linear Attribution, Time Decay Attribution, and Position-Based Attribution.
The choice of attribution model depends on the specific business objectives and the nature of the customer journey. Businesses can use attribution modelling to optimise their marketing spend and allocate resources effectively, as well as to identify underperforming channels and make improvements.
Attribution modelling can also provide insights into the customer journey, such as the most common path to conversion and the average time taken for a sale to occur. By gaining a deeper understanding of their customers, businesses can make data-driven decisions to improve their marketing strategies.
FIRST-CLICK ATTRIBUTION
First-Click Attribution is a method of allocating credit to the first interaction that a customer has with a brand. In this model, the first touchpoint is considered the most important in the customer journey, and all subsequent touchpoints are not given any credit.
This model is often used by businesses that have a strong focus on attracting new customers and building brand awareness. The first touchpoint is typically considered to be the point of introduction to the brand and is therefore given the most credit.
However, it is important to note that First-Click Attribution may not provide a complete picture of the customer journey and may not accurately reflect the contributions of other touchpoints in the conversion process. As a result, businesses should carefully consider the suitability of this model for their specific needs and may prefer to use a different attribution model that better suits their objectives.
LAST-CLICK ATTRIBUTION
Last-Click Attribution is a method of allocating credit to the final touchpoint before a conversion takes place. In this model, the last touchpoint is considered the most important and is given the most credit for the sale.
This model is often used by businesses that focus on direct response marketing, where the goal is to drive immediate sales. The last touchpoint is typically considered the point of sale, and therefore given the most credit.
However, it is important to note that Last-Click Attribution may not accurately reflect the contributions of other touchpoints in the customer journey. This model may overlook the importance of earlier interactions and the role they play in shaping the customer's decision-making process. As a result, businesses should carefully consider the suitability of this model for their specific needs and may prefer to use a different attribution model that better suits their objectives.
LINEAR ATTRIBUTION
Linear Attribution is a method of allocating equal credit to each touchpoint in the customer journey. In this model, each interaction is considered equally important in the conversion process and is given an equal share of the credit.
This model is often used by businesses that have a multi-channel approach to marketing and aim to provide a holistic view of the customer journey. By giving equal credit to each touchpoint, this model recognises the cumulative impact of each interaction and provides a more comprehensive understanding of the customer journey.
However, it is important to note that Linear Attribution may not accurately reflect the relative importance of different touchpoints. This model may not provide a clear picture of the most effective channels for investment, and businesses may prefer to use a different attribution model that better suits their specific needs.
It's important for businesses to choose an attribution model that aligns with their marketing goals and provides meaningful insights into the customer journey.
TIME DECAY ATTRIBUTION
Time Decay Attribution is a method of allocating credit to touchpoints based on the proximity to the conversion. In this model, touchpoints that occur closer in time to the conversion are given more credit, while touchpoints that occur earlier are given less credit.
This model is often used by businesses that have a long sales cycle and aim to understand the impact of recent interactions on the conversion process. By giving more credit to recent touchpoints, this model recognizes the relevance of recent interactions in shaping the customer's decision-making process.
However, it is important to note that Time Decay Attribution may not accurately reflect the cumulative impact of earlier touchpoints. This model may overlook the role that earlier interactions play in shaping the customer's decision-making process and may not provide a comprehensive view of the customer journey.
As with other attribution models, it's important for businesses to choose a Time Decay Attribution model that aligns with their marketing goals and provides meaningful insights into the customer journey.
POSITION-BASED ATTRIBUTION
Position-Based Attribution is a method of allocating credit to touchpoints based on their position in the customer journey. In this model, a set percentage of the credit is given to the first and last touchpoints, while the remaining touchpoints are given equal credit.
This model is often used by businesses that have a multi-channel approach to marketing and aim to balance the importance of both the first and last touchpoints in the conversion process. By giving more credit to both the first and last touchpoints, this model recognises the impact of both introduction to the brand and the final sale.
However, it is important to note that Position-Based Attribution may not accurately reflect the relative importance of other touchpoints in the customer journey. This model may not provide a comprehensive view of the customer journey and may not accurately reflect the contributions of all touchpoints.
As with other attribution models, it's important for businesses to choose a Position-Based Attribution model that aligns with their marketing goals and provides meaningful insights into the customer journey.
LAST NON-DIRECT CLICK ATTRIBUTION
Last Non-Direct Click Attribution is a method of allocating credit to the last touchpoint that is not a direct visit to the website. In this model, direct visits to the website are not given credit, and instead, the last touchpoint that is not a direct visit is considered the most important and is given credit for the conversion.
This model is often used by businesses that aim to understand the impact of their marketing efforts on the conversion process, excluding direct visits to the website. By giving credit to the last touchpoint that is not a direct visit, this model recognises the role of marketing in shaping the customer's decision-making process.
However, it is important to note that Last Non-Direct Click Attribution may not accurately reflect the impact of direct visits to the website. This model may overlook the importance of direct visits and the role they play in the conversion process.
As with other attribution models, it's important for businesses to choose a Last Non-Direct Click Attribution model that aligns with their marketing goals and provides meaningful insights into the customer journey.
LAST GOOGLE ADS CLICK ATTRIBUTION
Last Google Ads Click Attribution is a method of allocating credit to the last touchpoint that was a click on a Google Ads advertisement. In this model, only clicks on Google Ads advertisements are considered and the last such touchpoint is given credit for the conversion.
This model is often used by businesses that run Google Ads campaigns and aim to understand the impact of these campaigns on the conversion process. By giving credit to the last Google Ads click, this model recognizes the role of Google Ads in driving conversions.
However, it is important to note that Last Google Ads Click Attribution may not accurately reflect the contributions of other touchpoints in the customer journey. This model may overlook the impact of other marketing channels and interactions and may not provide a comprehensive view of the customer journey.
As with other attribution models, it's important for businesses to choose a Last Google Ads Click Attribution model that aligns with their marketing goals and provides meaningful insights into the customer journey.
