Digital Marketing Attribution Models

28 March

We talk about attribution models in Digital Marketing when we refer to the rules we apply to establish the supports assigned to a certain conversion or sales value.

Thus, attribution models are paramount as they measure the value of different channels or touch points (organic, social,
remarketing, email, search
etc.) through which a user goes through the sales funnel. salesfunnel .

How are channels, interactions and conversions related?

Many of the analytics tools – e.g. Google Analytics – that we use follow the last interaction model, attributing credit for the conversion to the last channel with which the user interacted.

It happens that if we follow the model of the last interaction we make an unrealistic study, since we will end up attributing a large number of conversions to the direct channel, even if we see how other channels such as organic, social or referral had an impact prior to the last interaction.

We must consider the nature of each of the channels, because not all of them have the same influence on the conversion funnel: some tend to be at the beginning and others at the end.

The channels we usually find at the beginning of the funnel are: SEO and Display. On the contrary, the channels that frequently generate the last interaction are: Direct Traffic, Email Marketing, AdWords Remarketing and Search.

What is our great challenge?

It consists of deciding what credit to give to each of the digital channels in the conversion path: Do we attribute the conversion to organic or direct traffic?

With multichannel attribution models we seek to solve the most complex conversion paths or with more interactions from different channels prior to conversion.

In addition, we should consider the interactions of the same user with various brand channels between different devices.

It is quite possible that the online interactions that we see reflected in the conversion paths have an offline impact that , if not considered, we would be detracting credit from the digital channels.

What is the purpose of searching for the best attribution model?

By allowing us to adjust the investment in each of our channels, we will ensure that those that have a greater impact on the final conversion also receive more importance in the conversion path.

This way we will extract key information that we will use to analyze and improve our marketing strategy and optimize the investment.

Looking for Digital Marketing advice? Write to us at hola@boomit.com.uy