Marketing attribution models reflect the various touch points, channels, and influences affecting customers with a business. This is an established “model” that outlines the entire journey from initial contact to final sale. It identifies how a customer is introduced to a business, the interactions they make, and the process to complete a sale.
Why are Marketing Attribution Models Important?
Marketing attribution models allow you to analyze and determine which marketing tactics are contributing to real sales, conversions, and growth at your business.
There are a few types of attribution models you can focus on, such as:
- First-Touch Attribution. This focuses 100% on the initial point of contact between a customer and your business. This identifies the channels your leads come from and gives all credit to the first touch.
- Last Touch (Opportunity Creation Touch) Point. This is a simple model that focuses on the last point of contact before a lead converts into a sale.
- Multi-Touch Attribution. This model distributes credit along varying moments in your funnel which contribute to a lead becoming a buyer.
The model you use for your business should answer questions like, “How many marketing channels do I use?” and “How long is my marketing cycle?”