(03) 9988 2341 Get SupportGoogle Analytics 4 (GA4) has a new way of measuring and attributing data compared to the old version. In GA4, they use an "event-driven" approach for collecting data and attribution modelling.
Here are some key aspects of GA4 attribution:
Google defines Attribution as "Assigning credit for conversions to different ads, clicks, and factors along a user's path to completing a conversion. An attribution model can be a rule, a set of rules, or a data-driven algorithm that determines how credit for conversions is assigned to touchpoints on conversion paths."
So, while attribution modelling is the process of assigning value to touchpoints in conversion paths, an attribution model is the way that value is assigned. In short, attribution modelling is the "what," and an attribution model is the "how." The attribution models in Google Analytics fall into two categories: default attribution models and custom attribution models.
The main problem areas that Google Attribution model addresses are
Earlier, only the last click gives all the credit to the user's very last touchpoint before converting. Whereas, Attribution is focused on understanding the full customer journey versus only last-click impact.
With analytics attribution, the advertisers have full-funnel attribution data, and they can see the conversion impact of keywords and ads based on multichannel and multidevice conversion path data.
Marketing attribution is a useful tool for understanding how your users interact with different channels before coming to your website. It is beneficial for valuing your marketing channels and understanding your customers' behaviours.
The various attribution models can be divided into two main categories, i.e., Single-touch attribution model and multi-touch attribution model:
Single Touch attribution models focus on one component of the conversion process, giving you data surrounding the specific touchpoints that are interacted with at these stages. It means you will miss a large portion of the data, but you can focus on specific interactions with greater precision.
Last Interaction Attribution: The Last Interaction attribution model, also referred to as "last-click" or "last-touch," gives all the credit to a customer's final pre-conversion touchpoint. This model provides 100% of the credit to your business's last interaction with a lead before they convert. The direct traffic, in this instance, gets all of the credit for that purchase. 100% of the value is assigned to that last interaction.
First Interaction Attribution: The First Interaction attribution model gives credit to the often underappreciated first touchpoint. The first interaction is similar to the Last Interaction, in that it provides 100% of the credit to one-click/interaction. The first interaction (also called "First-Click") gives all of the credit for a conversion to your business's first interaction with the customer.
Last Non-Direct Click: The Last Non-Direct Click attribution model is effectively the same as the Last Interaction model. However, it ignores all direct traffic. 100% of the value is still assigned to a single interaction. With the last non-direct click, it eliminates any "direct" interactions that occur right before the conversion.
Last Ads Click: The Last Ad Click attribution model will recognize your final Ads interaction. If this touchpoint is at all present in your conversion path, it will receive all the credit. If it is not, it reverts to the Last Interaction model.
Multi-Touch attribution models focus on the entire conversion process or part of the conversion path, giving you information on how parts of your marketing strategy work in tandem and allow you to see the big picture of conversions.
Linear Attribution: The Linear attribution model gives equal credit to each touchpoint in the conversion process. With a Linear attribution model, you split credit for a conversion equally between all the interactions the customer had with your business. Linear Attribution gives you a more balanced look at your whole marketing strategy than a single-event attribution model.
Time Decay Attribution: The Time Decay model gives more credence to the touchpoints that occurred later in the conversion process. Time Decay attribution is similar to Linear attribution - it spreads out the value across multiple events. But unlike Linear attribution, the Time Decay model also considers 'when' the touchpoint occurred. Interactions that occur closer to the time of purchase have more value attributed to them. The first interaction gets less credit, while the last interaction will get the most.
Position-Based Attribution: The Position Based attribution model is also commonly referred to as the U-Shaped model, due to the first and last touchpoints each receiving 40% of the credit, and the remaining 20% being shared evenly amongst the remaining touchpoints.
Once we understand customers’ activity leading up to a sale, we can focus resources on the most effective path to conversion. Using analytics attribution model can give you deep insights on which marketing channels are delivering the highest ROI and getting you the most customer engagement. The biggest benefit of analytics attribution is that it helps you improve your prospect-to-customer conversion path as well as lets you focus on the channels that are utmost important for the conversion.
The only right attribution model is the one that provides you with valuable information to increase ROI from your strategy. The key is to figure out which one is a good fit for your business or marketing campaign.
