Which Conversion Attribution Models are available?
An attribution model is the rule, or set of rules, that determines how credit for sales and conversions are assigned to one or more touch points in a conversion path.
ClickMagick Campaigns supports the popular attribution models listed below—including all of the advanced models provided by Google and Facebook Ads—and you can easily switch between them at any time.
Tracking Links do support basic conversion tracking, but only the First Click and Last Click attribution models are supported. Generally speaking you should be using Campaigns as your primary conversion tracking system.
Note: The First Click, Linear, Position-Based and Time Decay attribution models were introduced on September 21, 2021 at which time historical data for these new attribution models was backfilled based on the existing data in your account.
This means that if you had Last Click conversion data for clicks which no longer existed in your account at this time (for example because you manually deleted them or they were removed based on your data retention policy) we could not backfill the historical data for the new attribution models for these non-existent clicks.
This doesn’t meaningfully affect anything, we’re just letting you know in case you notice any “discrepancies.” For example, if for “All Time” you have 1,000 conversions under the Last Click attribution model, but only 996 under tthe Linear model, this is the reason.
Here’s an overview of each attribution model, and how it might be used …
Last Click (Default Model)
The default attribution model in ClickMagick—and in Google and Facebook Ads, and just about every other analytics platform—is the Last Click model.
The Last Click model is exactly what it sounds like. Last click gives full credit for conversions to the last link or ad the user clicked on.
For example, if a user clicks one of your Google Ads, then a few days later they convert on your display remarketing campaign, that display ad gets full credit for the conversion—and your Google Ad gets no credit at all.
Despite its limitations, the Last Click model has been used successfully for decades to build wildly profitable businesses online.
If you have a simple advertising strategy, especially when combined with a short buying cycle, the Last Click model may be all that you need since it gives you the most accurate picture of what actually gets users to convert.
If you’re relatively new to online marketing we also recommend that you stick with Last Click, at least for a while. There will be plenty of opportunity to experiment with the other attribution models as your business grows and your advertising and marketing become more sophisticated.
First Click is just the opposite of Last Click. First Click gives all the credit to the first link or ad a user clicks on.
And let’s be clear, when it comes to measuring conversions, First Click is not the best model to use unless maybe you’re running just a few ads on a single ad network.
But First Click can be great for ad campaigns that are focused on awareness and “top of the funnel” engagement, because it gives you the clearest picture of which keywords or ads were enticing enough for users to engage with.
First Click shows you that you targeted a good audience, that you had a compelling call to action, your keywords were on point, and you generated awareness …
And these are the things you probably want to focus on with brand awareness campaigns and testing top of the funnel engagement.
The Linear model is the first and simplest version of a “multi-touch” attribution model that gives credit for conversions to more than a single link or ad. The Linear model distributes credit equally to every interaction a user takes before converting.
For example, if you ran a campaign focused on driving clicks via Google, sharing blog posts or other content on social media, and remarketing via display ads, the Linear model would give equal credit to all three.
The Linear model gives you a good idea of which channels and ads or keywords work and which don’t …
But it also assumes that each interaction is of equal importance, which may or may not be the case for your business.
The Position-Based model is probably the “best” model for most businesses, most of the time.
The Position-Based model gives 40% of the credit to the first link or ad clicked, 40% to the interaction just prior to the conversion, and the remaining 20% is distributed equally to any additional interactions in between.
This gives you the benefits of a multi-touch attribution model while also focusing on what are arguably the two most important interactions a prospect makes with your marketing prior to converting—the first and the last.
This model gives a lot of weight to those links and ads that initially got a user to engage with your business, a lot of weight to the interaction that ultimately led to their converting, and a little bit of weight to any other supporting interactions in between.
This is perfect for finding the right combination of awareness and ultimately what closes the sale.
The Time Decay model is a more sophisticated multi-touch attribution model in that it gives more credit to actions that happened closer to the final conversion, using an industry-standard formula based on a 7-day half-life.
For example if a user interacts with your marketing four times—once each week over a 30-day period—before converting, the first interaction might get 6.75% of the credit, the next interaction would get 13.5%, the third interaction would get 27%, and the last interaction prior to the conversion gets 54% of the credit.
The Time Decay model is great if your campaigns and buying cycle are long, and your marketing complex.
Ecommerce stores probably won’t find much benefit from Time Decay modeling as sales are too quick …
But companies who require detailed education on their offering, such as multiple demos or consultations, can benefit greatly from this model as it gives some credit to each interaction, but more and more credit as a prospect moves through your funnel prior to converting.
Article 165 Last updated: 09/22/2021 5:31:49 PM https://www.clickmagick.com/kb/?article=165