Immediate access to data makes conversion no longer a single interaction process. Internet marketing consists of multiple intertwining channels. Although the conversion process has become clearer, some questions arise as to the ideal attribution model that will contribute to the highest rate of return. What exactly is attribution and what model to choose to meet our needs?
Conversion comprises many marketing channels, such as social media, display ads, search engines, or remarketing. Therefore, it’s not just the conversion attributed to the source of the visit where a user made the purchase that should be considered. Attribution gives an opportunity of assigning user conversion to every marketing channel. Attribution models are a set of rules that provide information on the location where the very conversion was attributed to; in other words, when and where a potential customer will come across the advertising material. The attribution model covers all email campaigns, push notifications, social media, chargeable or free searches, and much more. It makes it possible to find out which marketing activities bring effects. Campaigns making the use of Marketing Automation tools can provide a lot of valuable data. Marketing Automation gives the opportunity to acquire and analyse the data that users provide to us.
Most often, a user needs a few touchpoints to make a purchase in an online store. Hence, you should not attribute lead acquisition to only one channel. Attribution modelling gives you the ability to split the contribution to the final conversion to attribute the role of the most important interactions on the shopping path. A user can visit an online store through a Facebook ad and make a final purchase by going to a Google Ads campaign site. By modelling attribution, it is possible to split this conversion into several channels and assign roles to them. Therefore, it is far more beneficial to include all interactions in the shopping path – marketing attribution answers the question of which campaigns generate the highest revenue and allows for assessing the effectiveness of one’s marketing activities (ROI).
Attribution modelling helps you understand how individual marketing activities affect the entire shopping path. With a well-structured strategy and adequate data acquisition, it is possible to analyse the budget spending on individual marketing channels. Campaigns can be implemented and analysed using Marketing Automation tools, as well as in Google Analytics. Attribution makes use of account data to determine which campaigns, adverts, or keywords have the biggest impact on sales results.