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Analytics and Attribution models

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The customer journey is packed with multiple touchpoints, making it challenging to determine which of these “moments” (actions taken by the user) have played the most significant role in the conversion of the customer. 

Photo by Mikael Blomkvist from Pexels

Model attribution provides insights into how users interacts with your web and mobile apps. The decision-makers leverage the insights to understand what marketing efforts are driving “value”, allowing them to focus on the channels that provide the best Return on Investment (ROI). 

There are several attribution models that can be used to assign credit. We will go through some of those in this article.

Customer Journey - Beolle.com

First touch attribution

It is an awareness focus, being an introduction to the brand. This model gives the conversion credit to the first point of contact (i.e. a video or a social link). 

Last touch attribution

It is a model that gives the conversion credit entirely to the final touchpoint from which a lead has converted, which also means that is conversion focus.

Last touch is easy to implement, with little room for error. It is suitable for short sale cycles. Here are some of the providers that are using it:

  • Amazon
  • Bing
  • Google
  • Adobe Analytics
  • Linkedin

Multi touch attribution

It determines the value of each touchpoint within the journey. One of the insights this model provides is the understanding of what matters most to the target audience that is going through the Customer Experience (CX). There are different types:

Linear

It gives equal credit for a conversion to all touchpoints within the customer journey.

Time decay

It organizes the touchpoints based on a percentage. A campaign of a short cycle can be a good case for this type of multi-touch attribution.

U-shape

In this case the first and last touchpoints have higher percentage value of credit.

W-shape

All touchpoints will have equal credit, except the first, middle and last touchpoints, which will hold a higher percentage.

Conclusion

It is recommended to work closely with your analytics team to determine which attribution model will work best for your business, identifying those “moments of truth”. 

Understanding the most valuable touchpoints within the customer journey will be pivotal for defining, or to change course of an existing, digital marketing strategy that meets your business objectives.

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Agreed