How do we detect then, at a glance, the need to have an attribution model system in place?
A key point is to know whether we are working with investments that have an impact on our bottom line from two or more traffic acquisition channels. SEM + Affiliates, SEM + Email,…
But, if you really want to base your decisions on numbers, I advise you to access the Google Analytics report: Conversions > Multi-channel Funnels > Interaction Paths:
Out of a total of 19,722 conversions, 50% of them require more than one click. Therefore, it is likely that if we are working with a variety of traffic acquisition channels, the user has browsed through those same channels. So, it would be interesting to take a serious look at the subject of attribution models.
But, without diminishing what we have already said, we shouldn’t lose sight of the fact that, although 50% of conversions needed more than one click for conversion, the other 50% only did need one click for conversion. Therefore, not only do we have to analyze our attribution models, but we also have to analyze our CRO so that these one-click conversions improve our success rate month after month.
A basic example in order to see how my conversions are distributed over different channels is to access our Google Analytics and review the report: Conversions > Attribution > Model Comparison Tool:
Let’s do a comparison of an attribution model based on assigning the sale to the last click as opposed to a lineal one. For example, if we distribute the bulk of conversions equally between all participating channels, we see how the e-commerce channel would have 13% less conversions and payment traffic would have 12.92% more of them. Isn’t it great to have a 12% increase in conversions by merely changing a button? ☺
Which attribution model would I choose?
Now that we have introduced a lineal attribution model, let’s review the various models that Analytics provides:
I think the pictures are self-explanatory. If you want more information, here’s a link: https://support.google.com/analytics/answer/1662518?hl=es
Which is best for you on a daily basis? What is truly important all things considered? Let me explain to you why.
Last Interaction Attribution Model (Last Click Model):
PROs: Maximum extension, popular, standard
CONs: The other channels are not taken into consideration or given importance; unfair assessment.
Last Indirect Click Attribution Model:
PROs: You favor the last channel that is not related to direct traffic.
CONs: Like the above, but we move the moment of conversion to the left.
Last Adwords Click Attribution Model:
PROs: Understandable if Adwords represent a high percentage of your online marketing investment
CONs: Everything imaginable. If Google Analytics and Adwords belong to the same company, they’ll want to incentivize Adwords.
PROs: You credit the interaction that initiates the buying process, that creates the need.
CONs: This is unfair; the channels that register later participation are not credited.
PROs: All channels are equally credited.
CONs: A banner click is given the same credit as a newsletter click. That is, a new click is equally as valuable as one already in our CRM.
Decline Over Time Attribution Model:
PROs: The closer to the sale, the more value.
CONs: The click that initiated the buying process is not credited.
Based on Position Attribution Model:
PROs: Both the opening and closing clicks are credited. The least unfair
CONs: The middle clicks are not credited.
PROs: The most sophisticated and EXACT!
CONs: It’s very complex to implement. You’ll an high technology marketing attribution software and Best Attribution Software with Auto Bidding.
So many options, websites, marketing campaigns, market and cultural maturity, product types, prices, e-commerce or lead acquisition…