The concept of multi-touch attribution is nothing new. In fact, it's been around since the 1950s. The term "multi-touch" was coined by a researcher at the University of Chicago in the 1950s, and it refers to any situation where an individual interacts with multiple touch points before making a purchase decision.
Today, this could be anything from visiting different websites or performing several searches through Google before making a purchase — but more specifically, it’s about understanding who your customers are and how they interact with your website and other channels throughout their journey.
What is multi-touch attribution?
Multi-touch attribution is a marketing analytics technique that helps marketers understand the impact of their marketing efforts on customer conversions. It is an important tool for marketers to measure the effectiveness of their campaigns and optimize their strategies for maximum return on investment (ROI).
How does multi-touch attribution work?
Multi-touch attribution is based on the idea that customers interact with multiple touchpoints before making a purchase. For example, a customer may see an ad on social media, click through to a website, and then make a purchase. Multi-touch attribution allows marketers to track each of these touchpoints and assign credit for the conversion to each one. This helps marketers understand which channels are most effective in driving conversions and which ones need more attention.
Multi-touch attribution also helps marketers identify which channels are most effective at different stages of the customer journey. For example, some channels may be more effective at driving awareness while others may be better at driving conversions. By understanding this, marketers can adjust their strategies accordingly and focus their efforts on the channels that are most likely to drive conversions.
Multi-touch attribution also helps marketers understand how different channels work together to drive conversions. For example, if a customer sees an ad on social media and then clicks through to a website before making a purchase, multi-touch attribution can help marketers understand how each channel contributed to the conversion. This allows them to optimize their strategies across all channels for maximum ROI.
Finally, multi-touch attribution helps marketers identify opportunities for improvement in their campaigns. By understanding which channels are most effective at driving conversions, they can adjust their strategies accordingly and focus more resources on those channels that are underperforming or need more attention. This allows them to maximize ROI from all of their marketing efforts.
In conclusion, multi-touch attribution is an important tool for marketers as it helps them measure the effectiveness of their campaigns and optimize their strategies for maximum ROI across all channels. It also helps them identify opportunities for improvement in their campaigns so they can focus more resources on those areas that need more attention or are underperforming.
How can I get started with multi-touch attribution?
Rockerbox believes that no one methodology is perfect. That being said, if multi-touch attribution (MTA) is your preferred method of analysis, we’ve got you covered. Our MTA views were the first in our platform, and have been leveraged and proved by hundreds of brands.
You can select an amount of credit by customizing your model, or leverage a first touch or last touch view.
Rockerbox is a great place to start to better understand your channel effectiveness.