When a sale or a conversion is completed, most marketers would want to trace the journey that the buyer went through before making the purchase. In essence the main role of the attribution model is to find out which channel was able to bring the most traffic to the website. This will be used to assign credit to the marketing channel that brought the consumer to the website to make the purchase. There are various considerations that are factored in when a model is being chosen for purposes of assigning the credit for the sale. Ideally, this will compare the various marketing channels and award the ones that are driving the most traffic to the website. There are significant considerations that you should bear in mind when you are in the process of attribution modeling.
Combination of Marketing
When you clearly understand the process of marketing, you will be able to apply the models in the right manner. It is very rare for a person to land on a particular website through just one form of marketing. In most cases, it will take a number of marketing channels to be able to able to fully convince someone to buy a product or service. A good example is a person who sees an ad on Facebook and then decides to Google for the item and lands on a PPC advert. When they decide to visit the website, they fill in a contact form through which a marketing email is sent to them and eventually, they end up buying the item. All these channels will have played a significant role in converting the consumer. However, the credit will be assigned based on the attribution model that the marketer chooses to use.
Use of Data Models
When you read some blog posts, you may wonder how they make money and if they are aimed at any audience. If you are really keen, you will realize that most of these blogs will have links to some online stores. The A/B testing program should be used to validate the data that is provided by various models. This will create an understanding of the data models as long as it is done in the right manner and not in isolation. A/B testing is a program that has been recommended by most marketing experts as it seems to be more accurate. However, when you fully understand how it works, you will be able to see that it is a modeling structure in itself.
Take Action from Insights
There are so many online marketing tools that are commonly used. Web analytic tools will provide essential data to marketers and most of them will ignore such data. In order to make the most of your marketing efforts, you should take the relevant action from the insights and recommendations that are generated by these tools. This will help you in drawing the patterns and predictions on the various sources that generate most of your website traffic. In addition to this, the attribution model tools will help you understand your target audience in a better manner, which will help you to improve your online marketing strategies. You will be able to pay attention to the marketing channels that generate the most traffic and conversions for your brand.