An attribution model is a method teams use to evaluate the value of marketing touchpoints and channels that customers interact with throughout the ecommerce experience.
Attribution modeling yields important data and insights for brands and retailers to assess the impact channels, such as websites and social media, and touchpoints, including emails and advertising, have as part of their marketing campaigns.
Through this effort, teams can understand which touchpoints are most engaging to customers and assign values based on this data to tailor strategies that can more effectively align with marketing goals.
Customers may interact with multiple touchpoints to learn about a product or service. Brands and retailers can look to specific user experience data about how effectively the channels are working through different types of attribution models and algorithms.
Common approaches include single-source attribution, which involves assigning all credit to a single touchpoint, multi-source attribution, and weighted multi-source attribution, which enables you to analyze each interaction throughout the commerce cycle and weigh each touchpoint based on its performance.
The models can ultimately provide a perspective on which channels deliver the best outcomes for your strategic business initiatives and customers’ purchasing behaviors.