Data-driven multi-touch attribution - how is it different to traditional single-click models?
Despite the industry widely acknowledging the shortcomings of single-click attribution for measuring conversion points in a customer journey, a recent survey showed that 67.7% of UK and US marketers are still using either last-click or first-click models. Its time marketers stopped relying on the last-click status quo to embrace all-encompassing multi-touch attribution measurement techniques.
Last-Click – A Rudimentary Option
Last-click models assign 100% of the credit to the final touchpoint in the customer journey but by failing to recognise the value in all other channels, these models present a highly inaccurate picture of the truth, skewing results and ultimately throwing marketing budgets out of the window – basing campaign decisions on this model can lead businesses to drive investment into channels that don’t provide optimum performance.
While last-click models are typically inexpensive and easy to integrate, their impact can be negative in the long term. Bad data in results in bad data out and strategies built on data that’s misleading.
MTA – Measuring from Start to Finish
In contrast, dynamic data-driven models like multi-touch attribution (MTA) assign credit to all touchpoints that positively impact the customer journey and which lead to a sale or conversion.With MTA, you receive exact feedback on which touchpoints are contributing to the success of your campaigns, both current and historic ones. With these insights, you can then adapt your strategies, confident that your efforts are driven by facts and data, rather than assumptions.
The writing is on the wall, yet as of September 2018, 59% of B2B marketers are still not using multi-channel attribution.