Optimize Your Marketing Spend: The Benefits of Multi-Touch Attribution

One of the buzzwords always echoing around the digital marketing industry is "multi-touch Attribution" or MTA. As marketing strategies and consumer behavior change, it's crucial to keep pace with changes in this area. In this post, we will explore the changing landscape of multi-touch Attribution and what you need to be aware of when utilizing it.

MTA in the Marketing World

MTA has become a staple in the marketing world, with many businesses exploring in-house versions of this model in addition to utilizing vendor offerings. The fundamental idea behind it is to assign credit for conversions to not one, but multiple touchpoints in the consumer journey. However, at further inspection, many teams discover that the effectiveness of multi-touch Attribution is no longer as robust as it once was.

Data Scope Matters

One of the critical aspects of multi-touch attribution is the scope of data it encompasses. In the past, you could collect comprehensive data from various platforms, including impressions, clicks, and conversions. This holistic view allowed for a clearer understanding of the entire consumer journey. However, the landscape has changed significantly.

Now, the data scope is fragmented, and the ability to obtain a full consumer journey is becoming increasingly challenging. Each platform only provides insights into its own ecosystem. For example, Facebook's reporting focuses solely on Facebook impressions and clicks, and Google Analytics predominantly tracks on-site visits, often omitting critical information from other platforms like Snapchat or display advertising. The industry's journey towards a unified consumer experience has been disrupted.

The Relative Approach

In this new landscape, the best way to use multi-touch attribution is a more measured approach. Instead of seeking an absolute representation of the entire consumer journey, it's more effective to compare models and data sources. By analyzing relative comparisons, you can gain insights into how different marketing channels and touchpoints contribute to the customer journey.

A practical example of the relative approach is comparing first-click attribution with last-click attribution. By examining the relative contributions of Facebook, Google Ads, and other channels in these different attribution models, you can uncover deeper insights consumer behavior. For instance, you might discover that many consumers initially interact with your brand through Facebook but only convert on a subsequent visit via search. In this way, you can gain a more nuanced understanding of the customer journey.

Adapting to the Changing Landscape

In today's landscape, the data you collect is often a sample of the overall consumer behavior. You're not observing the entire journey but rather a portion of it. Understanding this sampling approach will help you make more informed marketing decisions based on the data at your disposal.

Conclusion

Multi-touch attribution has shifted from an all-encompassing model to one that requires a more relative perspective. By comparing different attribution models and understanding the realities of data sampling, you can navigate the evolving marketing landscape more effectively. In a world where consumer behavior and marketing channels continue to change, adaptability and a willingness to learn and adjust are the keys to success.

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