Multichannel attribution is the practice of identifying, tracking, and assessing a business’ marketing channels that lead to sales to evaluate the strengths and weaknesses of each.
Multichannel attribution is an evaluative process that gives businesses insight into what’s working, what’s not, and, ultimately, which marketing channels lead to the most sales conversions.
This process is especially important given the fact that today’s customers find products through a variety of different channels, including social media, direct search, backlinks to product pages, and email.
In a multichannel attribution model, the business assigns values to each channel to determine which drive the most leads.
There are several attributions a business could use to evaluate the success of their marketing channels, including interactions, direct or non-direct clicks, and time decay. Each of these attribution metrics provides a different assessment perspective, giving businesses a glimpse into how their customers engage with each channel.
Ultimately, multichannel attribution is a way for businesses to evaluate their overarching marketing strategies and make channel-by-channel adjustments to better meet their customers.