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:
- When MTA is most suitable
- How to choose a business objective
- Find out which media channels influence your business objective
- Find out which other factors influence your business objective
- Which cost elements you need to consider
- Choosing between different attribution models
- Which tooling to use
- Where to store your data
- How to move from data to actionable insights
- How to set up a decision structure to implement insights
The 10 steps listed above show you how to optimize your business objective by using an MTA model. You can perform an MTA analysis using different technologies. Existing modelling techniques in standard web analytics tools are often a stepping stone for organizations. However, if you have complex business dynamics, you might want to use a dedicated MTA solution. Subsequently, you can determine which media budget allocation is most effective by ranking the media channels that influence your business objective. Finally, through experimental learning and involving the relevant stakeholders, you can determine if your overall target has increased after implementing multi-touch attribution.
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