Last-touch attribution is so last decade. The last engagement isn’t always the most significant, and there are so many newer models that take the whole customer journey into consideration. That’s why you need to learn about multi-touch attribution.
You know how “you don’t know what you don’t know?” That’s especially true when it comes to your digital marketing campaigns. If you’re promoting content in social, investing in search, and targeting audiences with multi-channel display campaigns, how do you know what’s driving consumers to convert? Do you know which clicks has the greatest influence on that conversion?
Last-click attribution definitely isn’t the way; neither is first-touch attribution. Sure, both models tell you the first or last thing a person clicked on before they took action, but they don’t give you a full picture of what influenced them to finally do it. They may have seen or interacted with your ads six times before finally filling out that form. Multi-touch attribution is the only way to see how all those interactions factored into bringing you that new lead or customer – and which interactions mattered most.
There’s more than one type of multi-touch attribution, though, so let’s take a closer look at attribution modeling and some of the most common ways to approach it.
In other words, this model is unique to your campaigns – but you have to have accumulated enough data about your campaign performance for it to work. So, it’s really for more seasoned marketers and/or those with bigger advertising budgets.
Ultimately, attribution modeling is not a one-size-fits-all affair. Different marketers have different preferences – and campaigns will have varying requirements. What’s right for one marketer may not be right for another, and whichever attribution model you choose, it must fit your needs and goals. In general, you’re probably hoping to find out which elements of your campaigns are most effective, and where you should be investing more of your budget and energy. That may require experimenting with a few different models. Over time, you’ll figure out which one works best for your needs – and that will help you drive more ROI for every campaign dollar you invest.
By The Beeswax TeamRead More