Everything You Need to Know about Digital Attribution Modeling Techniques:
It is essential to choose a position-based Digital attribution modeling technique with an appropriate percentage assigned to the first as well as the last interaction between the stages of awareness in an inbound strategy. Any piece of content that can bring traffic and funnel prospective clients is extremely important. It must guide the campaign through opportunity conversions. One must be able to identify the new channels for the buyers to interact, and eventually convert.
Direct Traffic in Google Analytics
The Model Conversion Tool doesn’t actually change any data or portrays different statistics in anyways. It simply tells on how much each channel has contributed to a conversion. The comparison tools look specifically at the goal conversions and E-commerce transactions from different sources.
So here are some models you can use to compare the data and works best for you:
1. Last Non-Direct Click
This is the default program used for fulfilling daily reporting requirements. Not being so advanced in nature, this simplistic program gives credit to the last known campaign. Any effort which is entered by the user just before converting is considered. More like the last piece of marketing that convinced the user to convert. This type of model suits best for sites where the impromptu conversion can take place. For online shopping sites, this type of model suits the best, as the end buyer can frequently and quickly make conversions and not through different patterns.
2. Last Interaction
This method includes Direct; everything else is similar to The Last Non-Direct Click. However this method is often ignored, the reason being that it ignores the last effort made by the user just before converting. This attribution model is good if in case the user requires some quick statistics on the number of conversions and where the user came from most recently.
3. Last AdWorks Click
Quite simple model, this type gives conversion credit to the last AdWords campaign which the user had clicked on just before converting. AdWords is preferred since it has a clear cost for those clicks, so an exact return can be expected on the amount that is spent.
4. First Interaction
This model is all about the first click attribution. This is a good platform for new companies and websites. This can help the beginners to analyze techniques to brand itself in the market. Before conversion, it is essential for the user to know about the company, this technique helps you know about the platform from where the maximum sale conversion is taking place.
This model considers all the conversion supporters or all the techniques that were used by the user to interact before converting. This option is good for platforms which run on larger marketing cycles, as here is more than one place of exposure and consideration.
6. Time Decay
This is somehow similar to the Linear digital attribution modeling technique. Time Decay looks upon the marketing efforts put behind the final conversion. All the campaign efforts which lead to the final sales are considered and measured. In this type of model, however, the recent entry gets more credit whilst the old marketing campaign gets less credit. This is best for campaigns with long duration of conversion cycles.
7. Position Based
In this, the first and the last interaction receive 40% of the credit and rest is equally distributed across all the other interaction that took place in the middle. The first interaction is how the person came to know about the website and the Last Interaction is what finally closed the deal.
While all the models are made to assist the requirements of a business. Still if in case, the user is interested to create a custom model. Using a model as a base, you can tweak and create your own model. You can also collaborate two model functions with one superior tool.
Using these models you can check yourself if your marketing campaign is reaching the buyers properly or not. Choosing a correct attribution model in Google Analytics is essential for your business growth without putting in any extra financial input.
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