100 people clicked on my ad and 97 of them didn’t convert...why?01 Mar 2018Clicks and goals, as a business owner these two words mean only one thing - money.Clicks cost you money and goals bring you money but how do you give credit to a goal completion that happened without someone clicking on your new, sexy ad? Multi Channel AttributionThink about the last time you clicked on an ad - did you fill out the form or complete your purchase then and there? Unless you are Jeff Bezos the answer is probably not.In fact, a very generic industry conversion rate is just 3%. This means out of 100 clicks, 3 people will complete your goal (either purchasing your product or completing a form).The key to any sexy campaign is to find the right recipe to a users conversion journey and build the campaigns around that. At Alyka we’re not the type to set and forget when it comes to your campaigns. We believe that giving credit where credit is due is the best way to understand your audience and nothing does that better than Attribution Modeling. Attribution Modeling Examples Before we get into the attribution modeling examples let’s paint the scene:A customer finds your site by clicking on one of your AdWords ads and takes no further action.She returns one week later by clicking through from a social network however on the same day, she comes back a third time via one of your email campaigns, and a few hours later, she returns again directly and makes a purchase (finally).In the Last Interaction attribution model, the last touchpoint (in this case the Direct channel) would receive 100% of the credit for the sale.In the Last Non-Direct Click attribution model, all direct traffic is ignored, and 100% of the credit for the sale goes to the last channel that the customer clicked through from before converting. For example, an email channel.In the Last AdWords Click attribution model, the last AdWords click (in this case, the first and only click to the Paid Search channel) would receive 100% of the credit for the sale.In the First Interaction attribution model, the first touchpoint (in this case, the Paid Search channel) would receive 100% of the credit for the sale.In the Linear attribution model, each touchpoint in the conversion path (in this case the Paid Search, Social Network, Email, and Direct channels) would share equal credit of 25% each for the sale.In the Time Decay attribution model, the touchpoints closest in time to the sale or conversion get most of the credit. Going back to the scene we painted earlier, since this client purchased your product because they interacted with Direct and Email channels within a few hours of the conversion. These channels will get most of the credit and the Social Network channels will receive less credit.In the Position Based attribution model, 40% credit is assigned to each the first and last interaction, and the remaining 20% credit is distributed evenly to the middle interactions. In the above example, the Paid Search and Direct channels would each receive 40% credit, while the Social Network and Email channels would each receive 10% credit. Okay but...in English?At first attribution modeling seems complicated, it takes a certain type of data guy to analyse it, understand it and then strategise from it but luckily, that’s not your job.It’s ours.Get in touch to talk to our team of data guys about your campaigns performance. We bet there’s data hiding in there that can bring you more leads, more sales and better results.