What’s a touchpoint?
A touch or touchpoint is an interaction between a prospect or customer and your brand. It can happen on any channel and be part of any campaign or marketing effort.
It could be everything from a customer seeing a Google ad when searching for something relevant, to seeing your ad in a video, or a subscriber receiving a promotional email.
By focusing on touchpoints differently, it will highlight different ad groups, campaigns, and platforms.
You could identify how a display ad is essential in converting actively interested prospects by focusing on later events. At the same time, organic or paid search campaigns drive much of the top-of-funnel traffic.
Th art of identifying those channels, campaigns, and individual ads that contributed to a single conversion.
Since 67% of consumers use more than one channel to complete a single purchase, it’s not as simple as tracking conversions on a single platform.
To get a complete grasp on the customer journey and use the data to improve your marketing campaigns, you need to implement complex attribution models.
Single-touch attribution models
A single-touch attribution model gives 100% of the credit to a single customer touchpoint, either their first or last. Even if the customer interacted with your brand through on other occasions, that doesn’t get counted in the attribution. Only one campaign will get cleanly allotted 100% of the credit for the conversion.
Last-touch is the most common attribution model for PPC, often referred to as last-click. It gives 100% of the credit to the campaign, ad group, and ad that drives the last identifiable click before a conversion takes place.
With the first-touch attribution model, 100% of the credit for a conversion goes to the initial touchpoint, the very first ad click, organic search, or video view.
Multi-touch attribution models
The two leading challenges that marketers relate to are getting a complete view of customers over multiple interactions and tracking marketing effectiveness:
Multi-touch attribution models better cover the entire customer journey, track advertising efficiency across channels, and let you make smarter marketing decisions. Instead of ignoring integral touch points in the middle, you can see every single customer touchpoint and how they fit into the bigger picture.
Linear attribution models spread the conversion credit out evenly across every ad, ad group, and campaign.
For example, if a customer saw and clicked on four different ads, over a few weeks, each ad would get credit with 0.25, a quarter of a conversion.
The linear model helps you identify all the platforms, campaigns, and ads that contribute. Still, because the value is divided evenly with no consideration for timing, it doesn’t highlight which are the most important.
Differences between Wicked 1st party Linear attribution and traditional linear attribution
Traditional linear attribution counts every touchpoint in the customer journey and gives it equal weighting. In simplest terms, if your customer had 100 touchpoints before making a $100 purchase, each touchpoint would receive $1 in credit towards the sale. This is a popular approach for 1 reason: it is easy to understand. The problem is that all touchpoints are not created equal. Think of almost anything you have bought recently – can you recall more than 1 or 2 touchpoints you had with the brand?
Marketers like to think that all of their campaigns contributed to the sale of course. Counting all touchpoints greatly dilutes the value of the touchpoints that were most significant to the customer.
Wicked Reports linear attribution looks at 4 specific 1st party conversions and spreads the conversion value among those points. This approach narrows your focus to the highest quality conversions that are most likely to have impacted the customer on their path to purchase.
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