Multitouch attribution is a method of tracking and analyzing the customer journey on a website. It is a way to understand how different marketing channels and campaigns contribute to a conversion, such as a sale or a lead. In Google Analytics, multitouch attribution allows marketers to see the full picture of how a customer interacts with their website and make informed decisions about their marketing strategy.
Traditionally, attribution models have been based on last-click attribution, which attributes the conversion solely to the last channel or campaign that the customer interacted with before converting. However, last-click attribution does not take into account the fact that customers may interact with multiple channels or campaigns before converting. Multitouch attribution addresses this issue by assigning credit to multiple touchpoints in the customer journey.
How to implement multitouch attribution?
Multitouch attribution is a powerful tool for understanding the customer journey and optimizing your marketing efforts. However, it can be challenging to know where to start when it comes to implementing multitouch attribution. Let's discuss the steps needed to implement multitouch attribution through Google Analytics.
Set up conversion tracking: The first step in implementing multitouch attribution is to set up conversion tracking. This involves adding a tracking code to the website's conversion page, such as a "thank you" page after a form is submitted or a "purchase confirmation" page after a sale. This will allow Google Analytics to track the customer journey and attribute conversions to different touchpoints.
Choose an attribution model: Once conversion tracking is set up, you can then go to the "Conversions" section in Google Analytics and choose the attribution model that you want to use. Google Analytics offers several different multitouch attribution models, including:
Linear Attribution: In this model, credit is evenly distributed across all touchpoints in the customer journey. This model assumes that all touchpoints are equally important in the conversion process.
Time Decay Attribution: In this model, credit is given to touchpoints that are closer in time to the conversion. This model assumes that touchpoints that are closer in time to the conversion are more important in the conversion process.
Position-Based Attribution: In this model, credit is given to the first and last touchpoints in the customer journey, as well as a percentage of credit to the touchpoints in between. This model assumes that the first and last touchpoints are the most important in the conversion process.
Data-Driven Attribution: This model uses machine learning algorithms to analyze the customer journey and determine which touchpoints are the most important in the conversion process. It utilizes historical data to calculate the probabilities of conversion for each touchpoint.
Set up tracking for different marketing channels: In order to attribute conversions to different touchpoints, you need to set up tracking for each marketing channel. This includes setting up tracking for paid search, organic search, social media, email marketing, and content marketing. You can set up tracking for each channel by using UTM parameters, which allow you to track the source, medium, and campaign of a referral.
Analyze the data: Once you have set up conversion tracking and chosen an attribution model, you can begin analyzing the data. This includes looking at the customer journey and identifying which touchpoints are most important in the conversion process. You can also analyze the data to identify which marketing channels are driving the most conversions and which are not.
Optimize your marketing efforts: Once you have analyzed the data, you can use it to optimize your marketing efforts. This includes allocating more budget and resources to the marketing channels that are driving the most conversions and improving the performance of underperforming channels.
Implementing multitouch attribution in Google Analytics can be a complex process. However, with the right approach and a clear understanding of the customer journey, it is possible to gain valuable insights into your marketing efforts and improve the ROI of your campaigns. For example, if you see that a particular social media campaign is getting a lot of clicks, but very few conversions, you may want to re-evaluate that campaign. On the other hand, if you see that a particular email campaign is getting a lot of conversions, you may want to invest more in that campaign.
What are benefits of multitouch attribution?
One of the key benefits of multitouch attribution is that it allows you to see the full picture of the customer journey and make data-driven decisions about your marketing strategy. It allows you to understand which touchpoints are most important in the conversion process and optimize your marketing efforts accordingly. The benefits of using multitouch attribution include:
Improved understanding of the customer journey: Multitouch attribution allows you to see the full picture of the customer journey and make data-driven decisions about your marketing strategy. It allows you to understand which touchpoints are most important in the conversion process and optimize your marketing efforts accordingly.
Better allocation of budget and resources: By understanding the customer journey, you can identify which marketing channels are driving the most conversions and which are not. This information can help you make more informed decisions about where to allocate your budget and resources.
Increased ROI: By using multitouch attribution, you can optimize your marketing efforts and improve the ROI of your campaigns. You can identify which channels and campaigns are the most effective and allocate more budget and resources to them.
Improved measurement of marketing tactics: Multitouch attribution allows you to measure the impact of different marketing tactics, such as paid search, organic search, social media, email marketing, and content marketing. By understanding the customer journey, you can identify which marketing channels are driving the most conversions and which are not.
Better understanding of the customer: Multitouch attribution allows you to understand how different marketing channels and campaigns contribute to a conversion. By understanding the customer journey, you can identify which marketing channels are driving the most conversions and which are not.
However, it is important to note that multitouch attribution is not a silver bullet and it's not always possible to get a 100% accurate picture of the customer journey. There may be cases where customers interact with a brand in ways that are not captured by the tracking code, such as phone calls or in-person visits.
Conclusion
Multitouch attribution provides valuable insights into the customer journey and helps companies make data-driven decisions to improve their marketing efforts. By focusing on the most effective touchpoints, companies can optimize their customer experience and improve the overall impact of their marketing efforts. It is an essential tool for companies looking to understand the impact of their marketing efforts on the customer journey and to allocate their marketing budget more effectively. With its ability to provide a comprehensive view of the customer journey, multitouch attribution is a valuable tool for companies looking to improve their marketing efforts and drive conversions.