By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AmextaFinanceAmextaFinance
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
AmextaFinanceAmextaFinance
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
AmextaFinance > Small Business > From Last-Click To Multi-Touch Models
Small Business

From Last-Click To Multi-Touch Models

News Room
Last updated: 2023/08/28 at 11:22 AM
By News Room
Share
7 Min Read
SHARE

Sergio Alvarez is a performance marketing expert, digital attribution leader and CEO and founder of Ai Media Group.

Contents
Last-Click Vs. Multi-Touch AttributionThe ChallengesGetting Started With Multi-Touch AttributionEvolution Or Revolution?

If you’re still measuring sales attribution based on the last place your customer clicked before converting, you’re missing out on valuable information. Attribution has evolved, and in a brave, new, data-driven world, a multi-touch model can be the key to deeply understanding your customer and replicating sales.

Last-Click Vs. Multi-Touch Attribution

The difference between last-click attribution and the multi-touch model is evident in their descriptions. The former attributes sales directly to the last platform your customer interacted with before converting. The latter takes into account every touchpoint they interacted with along the way.

Last-click attribution is a bit like having the navigation system in your car directing you to a place without telling you when to turn left or right. When you use last-click attribution, you’re hoping to replicate an action your customer took without having any idea what turns they took to get there, where they paused, and what turned them in the wrong direction. Looking at it in this way, it makes complete sense that this evolution in attribution has occurred.

We now have the capability to deeply understand our customer’s journey. Why would we remain fixated on their endpoint? For higher price point purchases, in particular, understanding the journey is vital because a consumer will almost never make such a purchase without a relatively extensive journey of research. If you don’t understand how they do that, how can you hope to insert yourself into their purchasing path?

The Challenges

Multi-touch attribution is a major development in the digital marketing space, but it has its challenges. To get the true benefit out of multi-touch attribution, you need to be able to follow an individual’s journey.

Of course, those very important data privacy laws now prevent many pieces of identifying information from being tracked online. Thankfully, you don’t actually need to know who the user is in order to obtain valuable insights from their data. You just need to know their online identity. As such, a necessity in correct multi-touch attribution is having access to unique identifiers for users that are still PII (personal identifiable information) compliant.

Another acknowledgment to make is that no form of attribution is ever going to consist of 100% accurate information all the time. One cannot track users on private browsers, for instance, but because multi-touch attribution gives you more information than last-click attribution, the end result is typically going to be more accurate.

In direct comparison, I’ve found that platform-specific ad data isn’t always accurate. Why would one platform give credit to another? Of course, each platform is going to say that all the digital traction came from their platform, and there were no other steps in-between. So if we’re looking at a continuum of accuracy, multi-touch attribution strategies are usually going to come out at the top of the curve.

Getting Started With Multi-Touch Attribution

If you aren’t already transitioning toward a multi-touch attribution strategy, I suggest you start immediately. Last-click attribution is not the way of the future, and it’s not the best way to level up your business.

One of the most important things to take into account when evolving to multi-touch attribution is that you need to ensure your entire team is working toward one overarching goal. Whether it’s an internal department or an outsourced agency, everyone working on your digital campaigns is going to have their own agenda.

Your brand team is in charge of extending your brand presence, for instance, while your lead generation team is responsible for expanding the top of the sales funnel. Those two agendas may well crossover at some point, and without multi-touch attribution and a single overarching goal to work toward, you may be paying two teams to do the same thing.

By being really clear on what that ultimate goal is, you can more easily identify the platforms and touchpoints that are feeding it. Then, rather than wasting your marketing budget by duplicating activities, you can actually funnel more money into what really is getting the results you want.

Although multi-touch attribution has really evolved due to an enhanced digital marketing space, the touchpoints you measure should not be solely digital in nature. I’ve noticed one of the most frequently forgotten pieces of data involves telephone calls made to your business by customers. This is very often the point at which a customer will be finally convinced to make a higher price point purchase, and yet, that sale will probably never be linked to all the preceding touchpoints the customer engaged with.

Similarly, any other form of in-person or offline contact with customers must inform part of your data collection strategy.

Evolution Or Revolution?

The movement from last-click to multi-touch attribution is not just a clever tactic for marketers. It’s really a game changer for businesses and consumers. I think the future of business is in relationships, and the deeper a brand knows their customer, the better that relationship will be. For the brand, that means more sales. For the consumers, it means that their needs will be better served, and the marketing they see will be more focused and useful.

In a world where information overload is a real risk, we can all do it with greater insights and fewer distractions.

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?

Read the full article here

News Room August 28, 2023 August 28, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
UBS, Citi and other banks hit with $21.5mn penalty over Singapore money-laundering case

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Hitachi Energy says AI power spikes threaten to destabilise global supply

Stay informed with free updatesSimply sign up to the Artificial intelligence myFT…

The Lunar Society is a cautionary tale for Trump’s America

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Indian regulator temporarily bans Jane Street from dealing securities

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

EU watchdog warns Ursula von der Leyen against rushing deregulation

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

- Advertisement -
Ad imageAd image

You Might Also Like

Small Business

Why Do We Stay In A Job When We Are Not Happy? Insights To Help You Get The Career You Deserve

By News Room
Small Business

Making A Large Language Model Transparent, Compliant And Reliable

By News Room
Small Business

The Important Initiative For Real Digital Marketing Results

By News Room
Small Business

The Future Of Real Estate

By News Room
Small Business

How AI Is Transforming Healthcare Risk Adjustment

By News Room
Small Business

How Do Hard Knocks Help? 5 Life-Changing Lessons Taught By Adversity

By News Room
Small Business

Lessons Learned From The World’s Most Successful Startups

By News Room
Small Business

Small Business Saturday Encourages Consumers To Shop Small And Local

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

YOUR EMAIL HAS BEEN CONFIRMED.
THANK YOU!

Welcome Back!

Sign in to your account

Lost your password?