The five attribution models to help marketers gain maximum ROI

1. The Five Attribution Models To Help Marketers Gain Maximum ROI What attribution is and how it matters to digital marketers? Marketing attribution is a process of identifying the touchpoints that play the maximum role in conversion. Now, you must know how the attribution matters to digital marketers in the real game. A marketer performs the job of making an in-depth analysis with a common goal of identifying the most useful channel among a number of channels that your product is being advertised on. It becomes the major concern of a marketer to identify whether the infusion of traffic to your website is from a social media ad or a content that you published in a third- party webpage. Now without proper attribution model, you would only get a superficial idea about the vanity metrics like the number of shares or the likes and comments posted. But, to measure the success of the marketing campaign, you must get deeper into it and identify minute things like, how a web visitor came in contact with your content, what factor influenced them to ultimately purchase the product, etc. With the help of attribution modelling, you can identify in a broader aspect that what’s working and what’s not. And thus, identify and understand what you are lacking in and thus make changes accordingly through pausing and re-strategizing the campaign.

2. But, without the help of marketing attributiontool, you won’t be able to identify that which touchpoints are contributing to return on investment or (ROI) and what are the things that you are wasting your time on that are not bringing any return. The first touch attribution model With this model, you can identify which channel first directed a lead to your webpage or attracted a visitor. The idea behind the model is, without the first touchpoint, no conversion can occur at the end of the funnel. Although the first touch model is the easiest to set up and doesn’t involve much analysis, quite easy to keep a track on. But it also has certain limitations like, it informs only about the beginning of the journey and thus informing you about only a part of the entire scenario. Last touch attribution model The last touch attribution model is quite similar to the first touch model. But, unlike the previous model, this model instead of measuring where the lead first came from, attributes the entire sales process to the end of the marketing funnel. Although the model shows what directly lead to the conversion of a customer, it neglects the entire step-wise process that leads to the conversion. Linear attribution model This attribution model, unlike the prior described models, equally credits all the touchpoints leading to conversion. In this model, every single step is given equal weightage starting from the first touch, opportunity and lead creation, till the customer closing. It offers a multi-touch attribution solution. The main problem that comes with this attribution is determining the most important conversion touchpoints. The main theme of this attribution method is simply to give equal importance to all the touchpoints.

3. Time decay attribution model This model is quite similar in nature to the linear attribution model. But the difference lies in giving more importance to those touchpoints that are closer to conversion than the beginning of the funnel. More weightage is given her to the middle and bottom of the funnel rather than the top because that’s the point which made the conversion. u-shaped attribution model This attribution model gives emphasis to the three major touchpoints that are, the first, last and middle. contributing a credit of forty per cent each to the first and last points and the remaining twenty per cent to the middle point. The bottom line After understanding the above-discussed marketing attribution models, you could best decide which attribution model is best suited for your business type and how you can gain the maximum conversion rate.