Customers go through several paths until they buy a specific product. This can happen through email marketing, paid media, sponsored links, among other channels.
However, most marketing professionals cannot follow the process from start to finish. Lack of information is very bad because you do not understand what the best and worst strategies are for your business.
So we're here to talk about attribution models. Let's focus on the following topics:
What is an attribution model?
Why is an attribution model important?
What are the most common attribution models?
How to choose an attribution model?
Where to monitor attribution models?
Find out all about it below!
What is an attribution model?
The purchasing process of a person on the Internet bhutan email list 41051 contact leads is different from that of customers who tend to frequent physical stores.
In the online world, the Internet user who accesses a virtual store already knows what he wants to buy and simply resolves his doubts about payment methods, models, quality and cheaper prices.
However, until the purchase is completed, the user travels a rather long path.
The journey is even more complicated when the consumer is attracted to a service or product that was not in their plans, but was always necessary at some point in their life.
The customer journey can last hours, days, and even weeks. An attribution model is responsible for tracking your customer’s journey from the first contact they had with your company to the final purchase.
Still, most ecommerce sites make a mistake when evaluating the customer's purchasing journey: they only look at the last page the customer clicked on to make the purchase.
Ideally, you want to understand the impacts of multiple channels: display network (Google), email, an affiliate link, etc. That way, you can figure out which strategies generated the most sales for your business.
The old way of marketing based on “guesswork” is no longer valid. Now, it is essential to have access to a large amount of data to make the best decisions in your routine.
Attribution modeling helps you track display performance, how much influence email marketing had on the conversion, or whether the customer interacted with the product before completing the purchase.
Why is an attribution model important?
The attribution model is important because it follows the user's path to complete the purchase, showing the influence of each channel on the strategy.
That way, you'll know which times are performing well and which times require special attention to generate more profits.
What's more interesting is that the attribution model can change the URL to find out in Google Analytics which channels had the most clicks.
There are several types of attribution models. To get an idea, you can define the first and last interaction with your store.
