One of the most important things to think about when determining which type of attribution model will work best for you business is how effective your marketing attribution should be.
The right model will allow you to monitor your marketing performance and adjust it to increase customer engagement through all channels.
Furthermore, you can make your marketing more efficient by using expert tools like call tracking .
Continue reading to find out more about marketing attribution, and the various models that your company can use.
What is marketing attribution?
Marketing attribution is the process of analysing customer engagement levels to determine the touchpoints used in each journey. This allows you to gain a complete picture of which marketing channels are driving revenue.
Call tracking software is one of the best tools to help you execute this process. You can use this tool to get detailed reports and insights. With these data you can create sales customer journey maps that show how customers are engaging across all marketing touchpoints.
This information is crucial to determine how each marketing area is performing in terms of the sales and leads they generate and how it contributes towards your return on investments (ROI).
Which attribution model works best for you?
You can choose from different models to analyze customer engagement levels. Each model offers a different type of analysis that will help you to plan your marketing agency.
- Attribution of first and last touches
At two opposite ends of this spectrum, first and last touch attributions follow a similar pattern.
First touch attribution measures engagement only from the first touchpoint of a customer’s journey. Last touch attribution is the reverse, and focuses only on the last touchpoint.
These models are based on the assumption that one touchpoint in a customer’s journey – whether it is the first or the last – is the most important in increasing customer engagement and determining the likelihood for a conversion.
These models are great for short sales cycles because this is where the first and last touchpoints can be more important in the generation of leads from customers.
- Multi-touch Attribution
Multi-touch Attribution measures engagement at multiple touchpoints during a customer journey. It does not only measure the first or last touchpoint.
These models are based on the notion that customers can be funnelled through many touchpoints.
They are more suited for longer sales cycles because they have greater impact on the customer journey.
These are the different multi-touch model values that each point of a customer journey receives. They are:
Linear – This measure engagement at every touchpoint of the customer journey equally. This model is great for businesses who want an all-encompassing view of customer engagement at every touchpoint and a general picture about marketing performance.
U-shaped – This model is primarily focused on the first and final touchpoints of a journey with little consideration for those in between. This model is great for businesses that feel the first and final touchpoints of a journey are the most important and who want to improve the way they attract customers.
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W-shaped – This model is focused on the first, second, and very important middle touchpoints equally (like a W). This model is great for businesses that want to concentrate on the beginning and the end of customer journeys, but not forget the importance of the middle touchpoints that help customers move through the sales cycle.
Time decay – This model considers all touchpoints. It starts with the lowest value and gradually increases across each touchpoint until the last touchpoint is the most valuable. This model is ideal for businesses that believe that the customer journey’s touchpoints become more important as they go along. After the customer has been hooked, the touchpoints are more important. The last touchpoints are the most crucial for closing a sale.
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This guide to marketing attribution will help you find the right model for you business and incorporate expert call tracking software to increase the effectiveness of your process.
