As a marketer, do you wonder which part of your marketing deserves more credit? It can’t just be the point when a user converts — there’s more to it. We live in a world where there are multiple channels for interaction, like email, social media, or ads. With such a variety of user channels or touchpoints, marketers can often miss out on giving credit when it’s due. That’s where multi-touch attribution comes in, helping you understand how each interaction contributes to the final conversion.
That’s where multi-touch attribution steps in — a smarter way of tracking every step of the customer journey. Want to know which model works for you? Let’s find out!
What is Multi-Touch Attribution?
Multi-touch attribution is a marketing measurement method where credits are attributed to multiple touchpoints in a customer’s journey. Unlike, first and last-touch attribution where the credit is given to the first and last interaction, multi-touch evaluates the entire customer journey.
It helps marketers understand which channel and campaign contributed the most to conversions.
A multi-touch attribution example can be a marketing campaign that entails social media posts, Facebook ads, and an email newsletter CTA.
You have a customer who engages with your social media post, then a Facebook ad and drops off, and days later it comes back via email newsletter.
Based on all the touchpoints and their interaction the marketer will give credit based on the multi-touch attribution model they follow.
4 Common Multi-Touch Attribution Models
Marketers or advertisers need to determine which attribution model suits their business. Let’s look at 4 common multi-touch attribution models.
1. Linear Attribution
The linear model gives credit to all marketing touchpoints. Taking the same multi-touch attribution example, if a customer interacts with your social media post, then a Facebook ad and lastly converts with an email CTA. All 3 touchpoints will get an even credit (33.33%).
Pros:
- Gives credit to all touchpoints.
- Simple in approach.
Cons:
- Doesn’t offer insights into each approach.
- Under or overvalue certain key touchpoints.
2. Time Decay Attribution
In this model, the credit is spread across all the touchpoints but time is a major factor. Less credit is given to the first interaction, and the last interaction (that brings conversion) gets more credit.
Pros:
- Good for short sales cycles.
- Give importance to high-intent interactions.
Con:
- May undervalue early-stage efforts.
3. W-shaped Model
This multi-touch attribution model follows a definite pattern. 90% of the credit is evenly split among the first touchpoint, lead creation, and last touchpoint, rest 10% is divided among other touchpoints.
Pros:
- Highlights the major conversion touchpoints.
- Identifies impactful touchpoints beyond first and last.
Con:
- Not ideal for short buying journeys.
4. U-shaped Model
The U-shaped model is similar to the W-shaped model as it distributes credits unevenly across all the marketing touchpoints. This multi-touch attribution model gives 80% to the first and last touchpoints and the rest 20% is spread across middle touchpoints.
Pros:
- Simple but more insightful than the linear model.
- Prioritize both the top and bottom of the funnel.
Cons:
- Might not work for complex, multi-step funnels.
5. Custom Model
As the name suggests, custom multi-touch attribution models are customized to align with the company’s business goals and marketing strategy. The company decides how much percentage of credit each touchpoint gets based on the metrics.
Pros:
- Highly relevant and accurate to the business goals.
- Flexible and scalable.
Cons:
- Requires advanced tools.
- Needs time and cross-team collaboration.
Which Multi-Touch Attribution Should I Use?
Picking the right model out of so many can be confusing since each of them has its pros and cons. Choose the one that provides correct insights for your business model.
Think of your customer’s journey and your business goals. If you want to understand the overall effectiveness of your campaign, consider a linear model.
But if you want to see which channel drives the initial awareness and final conversion, a U-shaped model might be your savior. According to Gartner, many businesses also explore combining attribution with broader strategies like marketing mix modeling to understand the impact of their campaign over time.
A multi-touch attribution might be demanding of resources, so you must make sure you have data tracking and analytical tools to help. Do not shy away from modifying your models, it can change as your campaign approach changes.
If you still feel overburdened you can work with a strong multi-touch attribution partner like Trackier. It offers performance-driven solutions to help simplify complex attribution processes.
Final Take
It is very important to select the right multi-touch attribution model if you want to know how your campaign affects conversions. Each model offers different insights depending on your business goals, sales cycle, and customer behaviour.
There is no one-size-fits-all approach but as a marketer, you must experiment with different models of multi-touch attribution and modify them as your strategy changes. The more accurately you attribute, the more confident you will be in your marketing approach.
The post The Different Types of Multi-Touch Attribution Modeling first appeared on Tycoonstory Media.
Source: Cosmo Politian
