What are attribution models?

Published: 28.07.22Marketing
What are attribution models?

Attribution models are a critical aspect of marketing analytics that help businesses determine which marketing channels and tactics are driving customer acquisition and conversion. An attribution model is essentially a rule or set of rules that determines how credit for a sale or conversion is allocated among marketing touchpoints.

There are several different types of attribution models, each with their own strengths and weaknesses. Here are a few of the most common attribution models:

  1. First-touch attribution: This model assigns all the credit for a sale or conversion to the first marketing touchpoint that a customer interacts with.
  2. Last-touch attribution: This model assigns all the credit to the final touchpoint that a customer interacts with before making a purchase or conversion.
  3. Linear attribution: This model assigns equal credit to all the touchpoints that a customer interacts with along their journey.
  4. Time-decay attribution: This model assigns more credit to touchpoints that are closer in time to the conversion, with diminishing credit given to earlier touchpoints.
  5. Position-based attribution: This model assigns the most credit to the first and last touchpoints, with the remaining credit split evenly among the touchpoints in between.

Choosing the right attribution model depends on the business goals and the nature of the customer journey. For example, a B2B business may find that a linear attribution model works best for tracking the complex, multi-touchpoint journeys of their customers. Meanwhile, an e-commerce business may find that a last-touch attribution model provides the most actionable insights for optimizing their marketing campaigns.

Using a CRM system with lead management capabilities can make it easier to track customer interactions across touchpoints and attribute credit accurately. By analyzing data from multiple channels and touchpoints, businesses can gain a better understanding of their customers and how to optimize their marketing strategies for maximum impact.

In conclusion, attribution models are a powerful tool for understanding the impact of marketing campaigns and optimizing customer acquisition and conversion. By using a CRM system with lead management capabilities, businesses can accurately track customer interactions and attribute credit to the right touchpoints, allowing them to make data-driven decisions and maximize ROI.

Check out our CRM system that will help you improve your marketing.
Follow our Facebook for more information.

Author Avatar Łukasz Magierowicz

Key Account Manager. Supports customers in the implementation and configuration process of the Firmao system. He has extensive knowledge of CRM systems. He collaborates with customers to understand their needs and help customize the system to their specific requirements.

Don't forget to share this article!

Related articles

Run your business successfully with Firmao