The Rise of Advanced Advertising Attribution Models

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As advertising becomes more complex and marketers strive to track and measure the effectiveness of their campaigns, the rise of advanced ad attribution models can help them do just that. These advanced models are able to more accurately assign credit for conversions to the various channels and touchpoints that contributed to them.

One of the most popular of these models is the last-click model. This assigns all the credit for a conversion to the last channel or touchpoint used before the conversion occurred. While this model is easy to understand and use, it is not very accurate, as it ignores all the other channels that may have also contributed to the conversion.

A more accurate model is the first-click model. This assigns all the credit to the first channel or touchpoint used. While this model is also relatively easy to use, it is not always accurate either, as it ignores all the other channels that may have also contributed to the conversion.

A more sophisticated attribution model is the weighted-model. This assigns different weights to the different channels, depending on how much they contributed to the conversion. This model is more accurate than the last-click and first-click models, but it is also more complex to use.

Finally, there is the customer journey model. This model takes into account all the different channels and touchpoints that the customer interacted with before converting. It is the most accurate of all the models, but it is also the most complex to use.

So which of these models is the best? The answer is, it depends. Each model has its own strengths and weaknesses, and the best model for your business will depend on your specific needs and goals.

So with the rise of advanced attribution models, knowing which one is right for you will come down to trying different models and seeing which one gives you the most accurate results. You can do this by creating a test group of customers who have converted and comparing the results of the different models. This will help you to determine which model is the best fit for your business.

QUOTE FROM DATORAMA:
“First Touch–Gives 100% credit to the first touchpoint seen in the attribution lookback window.

Last Touch–Gives 100% credit to the touchpoint occurring most recently before conversion.

Linear Touch–Gives equal credit to every touchpoint seen leading up to a conversion.

Time Decay–Goes according to an exponential decay with a custom half-life parameter. The default is 7 days. The weight of each channel depends on the amount of time that passed between the touchpoint initiation and the eventual conversion.”

Attribution Models
Attribution models

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Lia

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