Today, the buyer’s journey includes many interactions across various touchpoints and channels. There are very few sales conversions based on a single interaction.
Instead, conversions and sales usually come from an interactive mix of various sources, such as blog posts, social media posts, webinars, face-to-face events, conversations with representatives, content on your website, email marketing campaigns, and more. All these touchpoints play a role in driving customer conversion.
With attribution, you can attribute conversion credit to these marketing touchpoints and channels throughout the purchase process. Multi-touch attribution takes this step one step further.
In this blog post, we will introduce the definition of multi-touch attribution, the reasons that make it different from other types of attribution, and the multi-touch attribution model. let’s start.
What is multi-touch attribution?
Multi-touch attribution, also known as score attribution, is how you determine the value of each touch point in the entire customer journey throughout the conversion process.
In other words, in the conversion process, every touch point the customer has experienced throughout the buyer’s journey gets credit.
Why is multi-touch attribution important?
The reason why multi-touch attribution is so important is that it allows you to find out all the channels that contributed to the conversion and which channels have the most influence on the conversion. It gives you a clear understanding of how your channels and touchpoints affect each conversion.
This is valuable information that you can use to enhance these touch points for future potential customers to improve the customer experience and buyer’s journey. It shows you exactly how different touchpoints and channels work together to influence transactions at all levels.
You can also use this information to better understand what is most important to your target audience throughout the purchase process, and which aspects of the customer experience are most influential when they make a decision.
You may have heard of other types of attribution before, such as first touch and last touch. Next, let’s discuss what makes multi-touch attribution unique.
Multi-touch attribution, first touch attribution and last touch attribution
Multi-touch attribution is different from first touch and last touch attribution because it doesn’t attribute the conversion to the first or last marketing touchpoint the customer had before the conversion.
For example, suppose a HubSpot customer reads a blog post, participated in INBOUND, interacted with a social media post, and then became a customer.
The first contact with attribution will conclude that the blog post the customer reads will receive credit for their conversion, and the last contact with attribution will receive credit for the social media post they interacted with. At the same time, multi-touch attribution will consider all these touch points and assign credit to each touch point.
Meaning, multi-touch attribution is unique because it requires All Touchpoints, and then assign credit to each touchpoint based on the amount of influence the customer decides to convert. The first and last touch attributions (also called single touch attributions) do not exist. Compared to multi-touch attribution, these methods feel a bit outdated because they don’t take into account the many touch points and channels that potential customers and customers can use.
Multi-touch attribution model
Through the multi-touch attribution model, you can determine which customer touch points are most important throughout the buyer’s journey. There are different multi-touch attribution models to weight touch points in order of influence throughout the buyer’s entire process.
Multi-touch attribution model
You can use multiple attribution models to determine which touchpoints are most important in the buyer’s journey-and different multi-touch attribution models weigh multiple touchpoints in different ways.
Here are the four most common multi-touch attribution models to help you get started.
1. Linear attribution
The linear attribution model (also known as the average weighted attribution model) provides equal credit for each touch point in the buyer’s journey. When it comes to multi-touch attribution models, you can think of them as “standard.”
Who should use linear attribution?
If your potential customers are usually in the buyer’s consideration stage for a long time, linear attribution is very useful because it can show All Your content and messaging content during the expansion phase.
This is also ideal if you want to understand how touchpoints collectively affect the way transactions are made, or if you are new to multi-touch attribution and don’t have a basic understanding of how touchpoints perform in your audience.
2. Time decay attribution
The time decay attribution model organizes touchpoints based on the percentage of their impact on conversions, so that the touchpoint with the least impact (lowest percentage) is ranked first, and the touchpoint with the most impact (highest percentage) is ranked last.
Who should use time decay attribution?
If you want to measure the success of short-term touchpoints such as campaigns, time decay attribution is ideal.
3. U-shaped attribution
The U-shaped attribution model (also known as the bathtub model) provides a higher credit percentage for the first and last touchpoints in the buyer’s journey than the intermediate touchpoints.
Who should use U-shaped attribution?
If your team wants to focus on the impact of the first and last touchpoints of multiple touchpoints, U-shaped attribution is ideal. Less emphasis is placed on supporting touch points in the middle of the buyer’s journey.
4. W-type attribution
The W-shaped multi-touch attribution credit is attributed to the first and last touch points in the buyer’s journey, and gives value to the touch points that appear in the middle of the buyer’s journey. Then, assign the same credit to all remaining touchpoints.
Who should use w-shaped attribution?
If you want to understand which touchpoints can actually convert sales leads, but also identify touchpoints that encourage customers to engage and continue along the buyer’s journey, W-type attribution can be helpful.
In addition to the above four multi-touch attribution models, you can also use the following methods to create a custom multi-touch attribution model Attribution software.
Multi-touch attribution software-such as Evil report -The process of determining which marketing touchpoints among potential customers succeeded or failed can be made simple.
In fact, Wicked Reports can provide you with a complete view of how customers interact with your brand and track incoming clicks based on CRM and sales data so that you can identify the most important clicks related to your team’s unique marketing goals.
Use multi-touch attribution
Multi-touch attribution is a powerful process that marketers can use to identify various factors that affect customers’ purchasing decisions. It can also help marketers understand which factors have the greatest impact on their decisions.
This information can be used to improve the buyer’s journey, the marketing content and communications shared throughout the process, and to understand what is most important to your business’s unique prospects when making a buying decision.