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3 Types of Social Media Attribution Models You Should Try!

by Soft2share.com

It is no secret that social media has grown and evolved a lot in recent years. It has given people new ways of communicating and interacting with each other. Every brand is using social media to influence buyers’ decisions, connect with people from anywhere, and advertise their products or services. In such cases measuring the impact of your business tactics can be challenging. This is where social media attribution helps you! For effectively tracking the performance of their marketing efforts, businesses can use mobile marketing platforms like Trackier that help you manage your ad campaigns effectively over a unified platform. They offer various features like anti-fraud detection, reporting analysis, campaign performance, etc.

What is Attribution?

 

Attribution can be understood as a process that tells marketers about the touchpoints that resulted in the desired outcome or the goal of the business. It also helps them optimize their strategies according to the latest trends and customers’ requirements.

Brands can create their own attribution models according to the duration of your client journeys and sales cycles. For example, if an e-commerce brand is running a campaign on social media platforms to enhance user engagement and increase sales. Here the conversion touchpoints can be evaluated easily by the brands through social media attribution. To understand that more deeply lets deep dive further into the nature of different attribution models.

Choose the Right Attribution Model for Your Business

 

With so many ways to track mobile attribution, marketers and app publishers may develop precise customer journey maps and get valuable industry insights. Practical marketing data are driven by the unique capabilities of each mobile attribution model. Here are a few of them:

 

First Touch Attribution: This attribution model gives credit to the channel or the ad that the user viewed before making the desired action. Here the other touchpoint is not considered but only the initial stage that initiated the purchase or conversion.

For example, after viewing the ad on the social media platform the user purchased from the brand’s website. According to a first-touch attribution model, the social media ad that initially exposed the consumer to the business would receive credit for the sale.

 

Last Touch Attribution: On the other hand Last-touch attribution, gives credit to the last interaction touchpoint. It is assumed that the last encounter has the highest influence on arousing curiosity and kicking off the conversion process. Like, when a user sees a sponsored post on a social media platform, they click on it to go to the business’ website.  Later, they click on a different social media ad from the same business, go back to the website, and complete a purchase. In a last-touch attribution model, the final click on the second social media ad that redirected the customer to the website would receive credit for the purchase.

 

Multi-Touch Attribution: Multi-touch attribution gives credit to multiple touchpoints that result in the conversion or the desired outcome. Through multi-touch attribution, marketers can evaluate the various touch points that lead to the conversion from the user. This helps understand the entire user journey and optimize the marketing efforts for better results.

There are several methods for multi-touch attribution, including:

  • Linear attribution model:Each point in the customer journey receives equal credit under a linear attribution model.
  • Time Decay Attribution:Time decay attribution gives credit to the touchpoints that are nearer to the conversion event.
  • U-Shaped (Position-Based) Attribution:U-shaped attribution gives the initial and last touchpoints more weightage in the customer journey.
  • Algorithmic Attribution: Based on previous data, algorithmic attribution models allocate credit for each touchpoint using algorithms.

Conclusion

Businesses can get important insights into the success of their social media initiatives, improve their strategy, and more effectively allocate resources by giving credit where credit is due to social media touchpoints. Each touchpoint—whether it’s the initial exposure via a social media ad, following interactions with organic posts, or the final click that results in a conversion—contributes to the success of the campaign as a whole.

 

For businesses looking to maximize their return on investment and successfully navigate the changing world of social media marketing, knowing the impact of social media touchpoints through proper attribution is essential.

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