What is Marketing Attribution?
Marketing attribution is the distribution of the conversion value among campaigns that encouraged the user through the funnel.
There are dozens of possible attribution models. Let’s take a look at the most popular ones.
First Interaction or First Click. All the value received from a conversion is attributed to the first source that led the user down the funnel.
Last Interaction or Last Click. The entire value of the conversion goes to the last channel that the user came in contact with before the conversion.
Last Non-Direct Click. Google Analytics reports use this model by default. The entire conversion value is assigned to the last non-direct channel in the chain.
Linear Model. Divides the transaction value equally among all sources in the chain.
Time Decay. The value of a transaction is distributed between channels incrementally.
Position-Based or U-Shaped. With these models, most credit is given to two sources (40% each): the one that introduced the user to the brand and the one that closed the deal. The remaining 20% is divided equally among all channels in the middle of the funnel.
Data Attribution (Data-Driven Attribution). It calculates the value of channels using your data and the Shapley vector logic.
Markov chains. Attribution based on Markov chains helps answer the question of how the lack of a channel will affect conversions. For example, OWOX BI Attribution.