Multi-Touch Attribution Defined
Multi-touch attribution is a set of rules that assigns credits for sales and conversion to multiple touchpoints across the customer journey. Specifically, it is assigning credit to all the touchpoint a consumer may of interacted with including; digital ads, retail location, website, packaging, and promotional events. Different to a single touch attribution, multi-touch assumes that all touchpoints play some role in driving conversion.
Due to multiple touchpoints, there are a limitless number of variations in a multi touch approach, specifically, in regards to the number of steps that can be credited and the percentage of credit attributed to each step.
There are three models within a multi-touch approach:
- Linear attribution
- Time decay attribution
- U-shaped attribution
The benefits of a good multi-touch approach is that it will give insight into:
- Which messages a consumer was exposed to and on what channel
- Which touchpoint had the greatest impact on their decision to purchase
- The role brand perception played in the decision to convert
- The role of message sequencing
- Which messaging gets the best results from each consumer
- The impact of external factors
In Data Defined, we help make the complex world of data more accessible by explaining some of the most complex aspects of the field.
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