Marketing attribution uses rules in order to understand users better and to optimize their experience when they find our services or products. These rules constitute attribution models. Theoretically speaking, an attribution model is a system that establishes how to assign a value to sales and conversions to the points of contact within conversion routes. Specifically, an attribution model will show you which channels are making conversions or sales on your website, and which ones aren’t (which ones are unprofitable or cost-effective).
The 7 most popular and used attribution models are:
1. Last interaction.
2. Last indirect click.
3. Last Adwords click.
4. First interaction.
6. Deterioration over time.
7. According to position.
The most popular conversion routes are:
1. Organic search and payment.
2. Referring sites.
4. Social media.
5. Informative email newsletters.
6. Personalized campaigns (including offline campaigns)
Just one example is enough to teach you about the 7 models:
A customer finds your site when he/she clicks on one of your Google AdWords ads. The same customer returns to your site in a week after having clicked from a social media site. He/she makes a third visit to your site later that same day, courtesy of one of your email campaigns. Hours later, the customer returns directly to your site and makes a purchase.
How would this transaction be measured using each attribution model?