Ensure the information you can get from the model supports the sales cycle, your business goals, and your marketing strategies.

Understand how the model you choose works.The key to doing it effectively is two-fold: Every company will set it up differently. That’s because there’s no one “right” way to do multi-touch attribution. When discussing your approach to marketing attribution, it helps to have the right mindset. Understanding why will provide you some greater context before evaluating specific attribution models (in the next section). To be blunt, multi-touch attribution is hard. They depend on multiple factors, including what stage your business is in. Attribution models will be different for every business. That’s what makes the conversation about multi-touch attribution so interesting. There are many models (i.e., options), and we'll explain them. If you want to optimize your marketing spending and ensure long-term profitability, attribution data and performance metrics should be the basis of all the conversations you have about performance and budget.Īdditionally, you'll need to get more nuanced as you figure out how effective your awareness- and brand-building advertising is performing. Understanding marketing channel performance is essential for making smart decisions about your marketing budget-particularly in the aftermath of Apple’s iOS 14, which cut down Facebook's tracking ability, ballooned Facebook CACs, and left marketers to develop new Facebook advertising strategies. Why multi-touch attribution matters to growing your business Although they used a podcast promo code, their last click channel was Paid Social. In the above example, a customer has 8 interactions with a brand before they finally convert. More likely, the customer has interactions with your brand along several different touchpoints before they purchase. There is very rarely clear action and result, such as “customer clicks on ad, sees product, and immediately purchases.” Where should I continue to invest (or stop investing)?Ĭustomer journeys can be complex and nonlinear, so having reliable models that map out what those journeys look like is invaluable. How much did it cost to drive that purchase? 3. How did this customer get to my website to make a purchase? 2. Successful attribution modeling helps you answer vital marketing questions like: ‍ 1. Multi-touch attribution consists of modeling and analysis that help determine which marketing channels along the customer journey get credit for a sale. Without data from multiple sources and a multi-touch attribution model that helps you compare the effectiveness of different marketing channels along the customer journey, you won’t know what an order really costs you and if your marketing is keeping you in the black. If you want to get a realistic view of how your marketing is performing, it will require a broader perspective and more data points. Remember, there’s an inherent bias to vendor-reported numbers so you keep spending with them. What’s that you say? You look at Facebook reporting? That’s very trusting of you. And the more complex your business gets, the harder it is to answer. The question keeping eCommerce marketers everywhere up at night: are we killing it or are we just burning money? Are we spending the right amount in the right channels to maximize profitability?

Daasity’s Complete Guide to Multi-Touch Attribution

Multitouch attribution