An attribution model is a way to research and understand what path your customer took to purchase your product or service online. There are several metrics you should monitor, which help you create more effective marketing plans for your business.
Vitor Pecanha
Jun 28, 21 | 7 min read
What is an attribution model and how to choose one
Reading time: 6 minutes
Do you know which channels were responsible for bringing the customer to your site?
Customers go through several paths until they buy a specific product. This can happen through email marketing, paid media, sponsored links, among other channels.
However, most marketing professionals are unable to follow the process from start to finish. Lack of information is very bad because you don’t understand what the best and worst strategies are for your business.
So we’re here to talk about attribution models
Let’s focus on the following topics:
What is an attribution model?
Why is an attribution model important?
What are the most common attribution models?
How to choose an attribution model?
Where to monitor attribution models?
Find out all about it below!
What is an attribution model?
The purchasing process of a person on list of swaziland consumer email the Internet is different from that of customers who tend to frequent physical stores.
In the online world, the Internet user who accesses a virtual store already knows what he wants to buy and simply resolves his doubts about payment methods, models, quality and cheaper prices.
However, until the purchase is completed, the user travels a rather long path.
The journey is even more complicated when the consumer is attracted to a service or product that was not in their plans, but was always necessary at some point in their life.
The customer journey can last hours, days, and even weeks. An attribution model is responsible for tracking your customer’s journey from the first contact they had with your company to the final purchase.
Still, most ecommerce sites make a mistake when evaluating the customer’s purchasing journey: they only look at the last page the customer clicked on to make the purchase.
Ideally, you want to understand the impacts of multiple channels: display network (Google), email, an affiliate link, etc. That way, you can figure out which strategies generated the most sales for your business.
The old way of marketing based on “guesswork” is no longer valid. Now, it is essential to have access to a large amount of data to make the best decisions in your routine.
Attribution modeling helps you track display performance, how much influence email marketing had on the conversion, or whether the customer interacted with the product before completing the purchase.
Why is an attribution model important
The attribution model is important because it follows the user’s path to complete the purchase, showing the influence of each channel on the strategy.
That way, you’ll know which times are performing well and which times require special attention to generate more profits.
What’s more interesting is that the attribution model can change the URL to find out in Google Analytics which channels had the most clicks.
There are several types of attribution models. To get an idea, you can define the first and last interaction with your store.
The best known are:
first interaction model;
non-direct last click attribution model;
linear attribution model;
time reduction attribution model;
position attribution model.
What are the most common attribution models?
Now that you understand the concept of fnac now in the cloud, with r2 systems attribution model and what its benefits are, how about learning about the characteristics of each one?
First interaction model
In that first example, the conversion is 100% attributed to the first action the customer took in their journey before purchasing a product or service on your website.
In practice, this model does not evaluate the other actions that the customer performed between the first contact and the purchase; on the contrary, it gives all the credit to the first channel used.
If a visitor sees an ad on Facebook, goes to your website, subscribes to your newsletter , and months later makes a purchase motivated by email marketing, the results bw lists will be attributed to Facebook, regardless of whether they took other paths along their journey.