Marketing is more than just a simple stroll up the garden path.
Many different media elements and channels are involved in magnetising customers. Attribution Modelling is one element that aims to find and give credit to the many other paths that create conversions in the big garden of marketing.
Attribution Modelling effectively provides an insight into which strategies are best for your marketing budgets. In this post we’ll be exploring how Attribution Modelling works in Google Analytics, and how this can benefit you.
What is an Attribution Model?
Google Analytics has devised a set of handy rules that establish how credit for sales/conversions is distributed between the different touch points of a customer’s purchasing journey. This is known as the Attribution Model.
By knowing what works and what doesn’t, and how different channels interact with each other, you can focus on the campaign methods that are most efficient and targeted at areas that enrapture your audience the most (score!).
Each rule is defined according to different touchpoints in the customer journey, and which receives the most recognition accordingly.
The Attribution Model rules and touchpoints
1) Last Attribution
Last touchpoint gets 100% Credit
2) Last Non-Direct Click
Direct visits are disregarded, last channel customer clicked on before that gets 100% Credit
3) Last AdWords Click
Only the first click to the paid search channel gets 100% Credit
4) First Interaction
First ever interaction gets 100%
Credit is shared equally between every touchpoint on the conversion path
6) Time Decay
The closer a touchpoint is to the final conversion, the more credit it has; the further away gets the least credit
7) Position Based
The first and last touch points receive 40% credit each. Touchpoints between these two have 20% credit shared out between them.
Why use Attribution Modelling?
Google Analytics also allows for customisation of tools, and the comparison of up to three rules. These give a wider insight into the differing values for each channel and really tailor the model to what your company needs.
A main aim here for organisations is not just achieving a valuable adjustment in digital spending, but also an optimisation of it. Understanding the way customers interact and react on their journey, allows for marketers to pave a much smoother path for customers to voyage upon.