How Does Attribution Modeling Work?
Attribution modeling provides granular insight into how effective each of your marketing efforts are performing, analyzing customer engagement throughout their purchasing journey, and attributing specific values to each channel based on the solution and modeling type your business finds most important.
In a dynamic, ever evolving digital landscape, understanding your customer’s digital journey and identifying how your consumers reached your business is of paramount importance. When companies invest resources into various digital marketing efforts, it’s important to have a complete picture of how your consumers are reaching your unique conversion goals, and which channels are driving your business the most success.
Attribution modeling is an incredibly powerful tool that enables businesses to better analyze their marketing efforts, define and attribute values to which channels are yielding them the highest ROAS and delivering the best ROIs.
Attribution Modeling Types & Solutions:
● Last click (last interaction) model attributes 100% of the credit to the last channel that resulted in a customer conversion.
● First click model attributed 100% of the credit to the first marketing channel that resulted in a customer conversion.
● Last AdWords click model attributes 100% of the credit to the last AdWords ad that resulted in a customer conversion.
● Linear model attributes credit evenly across every channel during your customer’s journey that resulted in a conversion
● Time decay model attribution is based on the concept of “exponential decay” which gives a majority of the credit to marketing channels closest to the date of conversion.
● Position based model attributes a majority of the credit for the first and last channels, and spreads the remaining credit across channels your customer took in between.
Measuring Impact & Optimizing Your Marketing Channels
At Amplitude Digital, our expert Attribution Modeling strategists can custom tailor the right attribution models to fit your business goals, helping you better identify and analyze your customers conversion paths, providing deeper insight into which of your marketing channels are yielding you the best results.
Our dedicated team of data-driven strategists can help your company create attribution models that will help simplify your data, and provide meaningful and measurable insight into your marketing channels, helping your business better optimize your marketing efforts, reduce and/or eliminate costly marketing channels, and streamlining your marketing mixture to drive lower cost-per-conversions and leads. Our team of Attribution Modeling strategists can provide your business with the necessary insight to help your business consistently scale and grow.