What Is It??
The Attribution Model is a set of rules that gives you an overview of how a companies sales and conversions are happening in it’s conversion paths. So basically google gives a company the opportunity to see which channel led to a customer buying a product of theirs. This will give them an idea of what channel that they may want to put more money and focus into in the future. So it is obviously something that companies to get on board with.
Which Attribution Models Should You Use?
There are many pieces that you can use with in the Attribution Model. One that seems to be very useful is the Time Decay attribution model. This shows the touch points that the consumer reached closest to the time of the sale of a companies product gets the most credit for the sale being made. So if that was social media, that platform would get the most credit for the sale of the companies product. Also the “Last Interaction” of the attribution model is also very helpful. This is the last touch point of the sale or conversion. It will show the direct channel that the consumer used before the conversion. For example it was an ad posted to a specific social media platform, you would realize that you will want to continue to put efforts and money into those ads, because it is part of the reason sales are being made. Marketers do a lot of advertising through many different channels so it’s helpful to know which one’s are working for their company, says Shareen Pathak in her article, “WTF Is Attribution Modeling”.
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