In Marketing Analytics, Attribution refers to a set of rules that determine how credit is allocated for an action or conversion. Attribution experts often suggest that too many people rely on the last click as the sole source of a conversion. However, people should consider, measure, and give credit to multiple aspects that influence results. Those aspects could be any number of things, including multiple display ad impressions, integrated e-mail campaigns, organic search, and PPC ads.
Attribution modeling should be used to understand the behavior of website visitors. The goal of it is to determine the most effective and successful marketing channels for investment.
The Model Comparison Tool is used to compare how different attribution models impact the value of marketing channels. The calculated value will differ depending on the model used. The selection of a model depends mainly on a client’s business model and advertising objectives.
There are two types of attribution models. Custom attribution models and baseline attribution models both define how credit should be distributed to interactions in a conversion path. However, the difference between the two is that custom attribution models are created by individuals with their own set of rules. Baseline attribution models include:
- First interaction attribution model
- Last interaction attribution model
- Linear attribution model
- Time decay attribution model
- Position-based attribution model
- Last non-direct click model
- Last Google AdWords click