Last-touch would only tell you that people searching for your product will convert. They decide to click your paid search ad and then buy your product that was advertised in the video ad. After seeing your video ad, some customers decide to search for your product on Google. Say you have a YouTube pre-roll ad campaign running alongside a paid search campaign.
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Last-touch doesn’t take into account the full customer journey, so it can sway results in favor of certain platforms, like Google Ads, and lead you to make incorrect optimization decisions. What matters most is what finally caused the conversion, right?īut if you dig a little deeper, you start to notice that it doesn’t paint the full picture. Last-touch attribution is popular because, on the surface, it makes sense. Many analytics and ad platforms prefer this model because it’s easier for them to track, and it often credits themselves with the final conversion. Last-touch attribution credits the last touchpoint of the customer journey for the end conversion. Perhaps the best way to understand multi-touch attribution is in contrast to other leading attribution models you may be familiar with: last-touch attribution and first-touch attribution. The formulas for this can get complicated and verge into true data science territory, but the basic relationship of these values is important to understand as we continue.
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Then, it compares that relationship to the value of the conversion it contributes to (i.e., how much that free trial contributes to revenue). In rough mathematical terms, the way multi-touch attribution answers this question is by taking into account the cost of each touchpoint and the weight (i.e., importance) you give its stage of the customer journey. With multi-touch attribution, you take a conversion event, like a customer signing up for a free trial, and look at the role each touchpoint played in creating that sign-up.įor instance, in the graph above, should the Facebook ad that kicked off the customer journey get more credit for the conversion than the Google paid-search ad? The goal is to figure out which marketing channels or campaigns should be credited with the conversion, with the ultimate intention of allocating future spend to acquire new customers more effectively. Multi-touch attribution is the act of determining the value of each customer touchpoint that leads to a conversion. Multi-touch attribution is how you understand the role each touchpoint plays in creating a new customer and contributing to revenue. Each platform has its own agenda (i.e., they want you to spend more money with them), so they can’t provide the full picture of marketing performance.Īnd that full picture is important because every touchpoint a customer has with your brand can influence their decision to convert. Seemingly every week, channels and platforms develop more and more sophisticated ways to understand and improve performance.ĭespite these advancements, it’s difficult to understand how these channels and platforms work together. Today’s digital marketing offers a data-driven approach that wasn’t available a decade ago (let alone a century). The problems modern marketers face are quite a bit different than the ones Mr.
Fortunately, multi-touch attribution can be the answer. "Half the money I spend on advertising is wasted the trouble is I don't know which half.“Ī lot has changed in the last century, but the question of which advertising efforts actually contribute to the bottom line and which don’t still troubles many modern marketers. There’s a famous quote from the turn of the 20th century by an American merchant named John Wanamaker, that still rings true for many marketers today:
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