Although attribution modelling isn’t a new concept, in recent months it has been gaining a lot of traction in the world of multichannel digital marketing. However, while most marketers know they probably should be doing it, more than half (54% – Adobe) of all online businesses currently don’t.
With multiple popular attribution models including first click, positional, linear and time decay and countless more to investigate, its understandable that many marketers are still unsure about which model is right for them and how best to implement it.
As a result of limited knowledge, many marketers opt to stick with the familiar last click attribution as a logical choice. But within each model lies great opportunities to really maximise ROI – you just need to know which model is right.
So, if you’re still unsure of the value of attribution modelling or which model is right then here are things six things you need to know:
1. Attribution modelling tells you what channel is working
With a myriad of digital and social media channels now available, finding a way to reach your target audience has never been easier.
However, unless you keep track of how exactly how each digital channel is performing, what return you are getting and what each channel is contributing in terms of conversion how will you know where to invest your digital marketing budget?
Attribution modelling provides the answer to this challenge; enabling you to analyse and streamline channel performance and prove how much of your allocated spend is actually delivering, and how much is wasted.
2. There’s more to attribution than last-click
With limited knowledge of the pros and cons of each attribution model, it seems like the logical decision for any online business to start by focusing on the last-click model.
While last click certainly has its value in certain scenarios, more often than not it should only be treated as a stepping stone on the road to creating a much more useful, accurate and representative model for your business. Last click is the beginning of the journey, not the end. To continue reading, please click the below link;