April 13, 2017 - By Michele Szabocsik, Director of Product Marketing, Visual IQ
Multi-touch attribution is broad discipline that includes multiple methods and models. Knowing which model is right for your business needs depends on what you want to do with output. That’s why our marketing intelligence platform offers the flexibility to select from several MTA models.
This post explains the fundamentals of multi-touch attribution, highlights the differences in available methods and models in our platform, and helps you choose the right model for your business.
What is Multi-Touch Attribution?
Multi-touch attribution (MTA) is an advanced way of measuring marketing effectiveness because it accounts for the cross-channel consumer journey. It replaces the default, flawed approach of measuring performance within marketing channel silos – typically giving all of the credit to the last marketing touchpoint experienced by a consumer before she converts. This siloed approach leads marketers to double-count success metrics because multiple channels are taking credit for the same KPI event, such as a conversion or lead. It also neglects to measure the contribution of supporting marketing channels and tactics earlier in the consumer journey that play a role in influencing a desired action.
MTA eliminates this duplication because it looks at the consumer journey across marketing and advertising channels and tactics. Leveraging individual, user-level data across addressable channels like direct mail, online display and paid search, MTA calculates and assigns fractional credit of a KPI event to the marketing touchpoints along the consumer journey that influenced a desired business outcome. Depending on the MTA model, these insights into past performance can also be used to inform more efficient and effective planning and optimization decisions for future campaigns, as well as those already in flight.
Different MTA Models
While there are many different types of MTA models, the level of sophistication of each model can differ dramatically.
No matter the method, the common denominator between all MTA models is that each tracks the consumer journey and de-duplicates it across channels and tactics to assign credit for a KPI event (e.g., conversion, lead, etc.) to one or more touchpoints.
Here is an overview of the MTA models available in our platform, and how they are typically used:
Which Model is Best for You?
At a time when marketers are increasingly held accountable for demonstrating marketing success, any of these models is better than siloed channel measurement or no measurement at all. Any of these models will arm you with insight into the consumer journey that you didn’t have before. Ultimately, deciding which MTA solution is right for you comes down to your goals, business requirements and how you want to use the output to improve the effectiveness of your marketing.
To learn more about how MTA compares to other types of attribution approaches, download our whitepaper, Untangling Attribution’s Web of Confusion: A Primer for Marketers.