Implementing Multi-Touch Attribution in 10 Easy Steps
Follow these steps to success.
Time to start implementing Multi-touch attribution (MTA)? Let’s start by defining attribution: the process by which you allocate value from your revenue to the marketing touchpoints a customer was exposed to before making a purchase. To spread your budget accurately across all these different touchpoints, MTA uses mathematical models . This is an improvement upon simpler models, such as last click. They only measure the impact of the last touchpoint in the customer journey.
This 10-step roadmap will show you how to start implementing MTA to reach your business objectives, without using too many complicated tools and techniques. These 10 steps to success are:
- Knowing when MTA is most suitable
- Choosing a business objective
- Finding out which media channels influence your business objective
- Finding out which other factors influence your business objective
- Considering relevant cost elements
- Involving the right stakeholders
- Choosing a tooling to use
- Knowing where to store your data
- Moving from data to actionable insights
- And finally setting up a decision structure to implement insights
The 10 steps listed above show you how to kick off multi-touch attribution in your organization.
Start by defining your business objective. Then identify all relevant media channels, factors of influence and costs. Subsequently, involve all relevant stakeholders early in the process and choose a tooling. Existing modelling techniques in standard web analytics tools are often a steppingstone for organizations. As soon as you want to include costs, offline media channels and model factors of influence unique to your business, you might want to use a dedicated attribution solution. Finally, through experimental learning you can determine if you are reaching your business objectives after implementing multi-touch attribution.
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