New Attribution Models Report: How to Assess the Role of Channels in Conversions Is Up to You

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ashammi228
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New Attribution Models Report: How to Assess the Role of Channels in Conversions Is Up to You

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Content
How it was
How it became
How to use?
To effectively distribute the budget between advertising channels, you need to see exactly how each channel contributes to the conversion. Each company has its own specifics: somewhere it is important to track offline channels, somewhere - the entire chain of interactions, and somewhere in most cases the purchase is made immediately and the last transition is of the greatest importance. The new Attribution Models report allows you to choose the model that is right for your business. We tell you what this report is and how to use it.

How it was
Before making a purchase on a website, a user telegram database search often goes through a long journey. For example, they get acquainted with an offer by going to the website from the Search Results, then return thanks to a media banner, make a call from a classified ad, and finally make a purchase a week later, having learned about the start of a sale through social networks. How can you understand which channel ultimately "worked"?

The standard attribution model (Traffic Analysis report) assigns conversion to the last interaction with the advertising campaign, meaning that all credit for the conversion goes to the last source. In our case, it would be social networks. But by relying only on this model, an Internet marketer may underestimate one of the channels involved in the chain, reduce its budget, and ultimately face a decrease in the number of conversions from other channels.

How it became
To correctly assess the impact of each channel, the end-to-end analytics system CoMagic has a report called "Associated Conversions". It allows you to take into account the indirect impact of each channel on conversions when analyzing it. The attribution model allows you to go even further - it allows you to decide for yourself how to break down the value of conversion across different channels.

There are 7 attribution models available:


As you apply each model, you can see how the bar chart changes:

Let's take an example: a marketer at the Twin Peaks real estate agency needs to accurately assess the effectiveness of each advertising channel. Our marketer knows that before making a purchase, as a rule, a user goes through a long path of interaction with the company. This could be search results (SEO), contextual advertising, social networks, email newsletters, display advertising, etc. However, the first visit — when the future buyer gets to know the company, and the last one — when the client signs up for a viewing — play a particularly important role in making a purchase. Thus, the most suitable attribution model for Twin Peaks would be the "40-20-40 Position-Based" model, when the first and last visits are assigned 40% of the conversion, and the remaining 20% ​​are evenly distributed among other visits.


How to use?
1. Understand that you need it. If most of your company's conversions come from a single visit, the standard "Last Click" model will likely suit you. You can find out the length of the interaction using the "Multi-Channel Funnels" report in Google Analytics. Look at the number of conversions made from the first visit. If a third of all conversions come from two or more visits, then it makes sense to reconsider the standard attribution model.
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