We are in a new world where we encounter a ton of marketing messaging on a whole range of digital channels. As a marketer understanding the customer journey is more complicated and detailed than ever. As that is what your customers now expect.
There are many touch-points along the customer journey, from the first engagement to the final goal. These touch points can range from display banners, social media posts, emails, search ads and many more formats. These can be tracked in many ways resulting in large amounts of data. The most important thing is how we use this data to capture deeper insights into customer behaviour and measure the effectiveness of what channels play a role in the final conversion. Keep reading to find out about multi-touch attribution and its benefits.
So, what is multi-touch attribution?
Multi-touch attribution looks at the impact of touch-points along all stages of the marketing funnel. Awareness, consideration and acquisition levels. Looking at the different touch-points helps to identify which platform and channels are the key drivers of conversions and leads. Using this data, you can more effectively decide which areas to invest in and develop messaging for.
Example – let’s say someone sees your ad on Display but later decides to search on Google your brand clicks on a Search Ad and decides to purchase. If you were using a last-touch attribution model you would have missed the real value of that Display ad in the customer’s journey.
Unlike the above last-touch attribution or first-touch attribution model, the data-driven, multi-channel attribution model recognises all steps in a consumer’s journey from first to last.
NLOM has created a customer journey technology to help understand Multi-touch attribution. This shows which channels have an important impact on conversions. For some businesses that have multiple brands, it also helps to identify the cross-brand journey a customer goes through when they are in-market and considering one brand over another.
Below is an example of some of the top customer journey paths. It tells us the average journey duration and the number of journeys in that path.
If you want to find out more about multi-touch attribution and how it can take your marketing to the next level, please contact us!