Well okay, Erica, can you tell us about some of the trends you’re seeing with attribution modelling?
Definitely. So over the past few years we’ve seen a big shift in the way that our clients are doing attribution. So, it used to be that all of the value would be assigned to the last click which is called last click attribution.
Right before the conversion, whether it’s a lead or an appointment or a purchase, you would say that that sale or that lead came from the channel they last clicked through.
What we’re seeing now is that we’re moving towards a multi-attribution model, so that’s taking into account multiple touch points along that customer journey.
That’s allowing marketers to to understand the behaviours and kind of assign the value of to more of the purchase journey.
So we’re seeing a big shift in the way that modelling is done from last click to multi-touch.
Cool. And can you just give us a little definition for those following along at home of what that is exactly?
Multi-touch attribution modelling is where you assign value to the different points along the conversion pathway. So not just the last one but the ones that assisted before it.
So, for example, maybe, if I’m buying a shirt online, I see an ad on Instagram which shows me the shirt and I view that and then later on, I go on to Google and I search Topshop shirt.
I click on the Google ad, go through to the website. Then I’m about to check out, but really I get called over because my dog is jumping on top of me and so I leave it. Then I come back and I just go to Topshop.com and purchase it there.
In last click, all of that entire sale would be attributed to the website, but really Google and Instagram both attributed to the sale.
I was actually recently at the Google Masterclass in Melbourne and they did an interesting example of this.
So, the presenter asked someone to pass something they had left in the back of the class and everybody past kind of assisted in passing it forward and then that guy in the front actually got to keep it (it was a Chromecast).
And that was kind of just a real world example of only last person kind of gets to reap the rewards.
Absolutely that’s actually a really good way to illustrate it.