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Attribution is one of the most important elements of an effective marketing strategy, providing efficiency gains of 15-30%. The more accurate your attribution model is, the easier it is to optimize your marketing message to focus on the most effective touch points. Accuracy helps you to shorten the sales cycle, increase conversions and reduce marketing spend.
Here are the four most common attribution models:
Linear is the simplest model. Credit is evenly distributed to every touch point in the buyer’s journey, and all channels are included.
Google calls the U-Shaped model a “position-based” model. It works well for lead generation. While every touchpoint is tracked, it emphasizes the importance of two key touchpoints: the first touch and the lead conversion touch. Both of these two touches get 40% credit in the attribution mode. The remaining 20% is equally split between all of the remaining touchpoints.
The W-Shaped model moves past lead conversion to the opportunity stage. The three key touches are the first touch,the lead conversion touch, and the opportunity creation touch. Each of these receives 30% of the credit, with the remaining 10% split equally among all other touchpoints.
The Z-Shaped Model, also known as the Full-Path model, accounts for marketing beyond the opportunity stage. The four key stages in the model are the first touch, the lead conversion touch, the opportunity creation touch, and the customer close. Each key stage receives 22.5% of the credit. The remaining 10% is split equally among all other touchpoints.
