Attribution modelling is the process of assigning credit to marketing channel touch points that drives conversion.
Not all marketing channels directly drives conversion. some channels helps to create awareness, some channels helps to re-engage prospects, some channel helps to convert. Understanding the Marketing channel touch points in buyers lifecyle is very very essential. This will help to communicate effectively at different touch points & optimize the channel accordingly.
Type of attribution model are
1. First interaction attribution – Assigning credit to the first marketing channel touchpoint for the conversion
2. Last interacton attribution – Assinging credit to the last marketing channel toucchpoint for the conversion
3. Linear attribution – Assigning credit equally to all the touchpoints for the conversion
4. Time Deccay Attribution – More credit is assingn to the marketing channel touchpoint near to the conversion and
less credit is assing to the marketing channel touchpoint first & early touch points
5. Position based or U shaped Attribution : Assigning 40% credit to first & last marketing channel touchpoint and
20% credit is assigned inbetween marketing channel touchpoint
It is not possible to Zero-in the perfect attribution model. Because the attribution model various based on the campiagnobjective. For example, social media activity helps to assist the conversion. So, if we go by first & last interacton attribution model, the social media get less credit.
First understand the campaign objective and then choose the right attribution modelGoogle+