Of the most significant perceived gaps for senior marketing professionals worldwide, 54% of those surveyed found a multitouch attribution model largely overlooked.

Today’s digital marketing world is oversaturated. That’s a gap any marketing pro can’t ignore.

But what is an attribution model? How you can use it to keep your social media marketing strategy on-trend?

Learn more about what an attribution model is. With this guide, discover which type to use for your marketing campaigns.

What Is an Attribution Model?

An attribution model tracks customer paths of sale. It credits generated sales revenue to the appropriate ad(s). This is important to follow to ensure your marketing dollars go as far as possible.

A clear picture of invested marketing dollars gives you confidence in your budgeting. There are several platforms for ad placement today in social marketing strategies. You need the best technology to track your ROI.

Common Marketing Attribution Models

Attribution models vary as much as the platforms you track conversion events across. Keeping up with these marketing channels means employing the right attribution model. The varieties are split into single-touch and multitouch attribution models.

Multitouch Attribution Model

A multitouch attribution model credits every touchpoint in the consumer’s path of sale. The multiattribute model credits each point according to its importance in the sales path.

Linear Attribution

The linear attribution credits each point on the path of sale evenly. The even division of credit makes it easy to understand. It avoids requiring a deeper understanding of data science.

At times, it can be too simplistic because it treats every point of the sales path equally. You could see a longterm dip in your ROI if you exclusively use this model.

Time Decay Attribution

The time decay attribution model gives credit to actions closest to the final conversion. If you work with long, complicated marketing campaigns, this might be the model for you.

Many consultations and brands focus on longterm ROI. They often benefit from time decay attribution the most.

U-Shaped Attribution

Another position-based model, the u-shaped model, accounts for two touchpoints in the path of sale. You want a simplified view of conversions and ROI overall. Analyzing the first and last points to the purchase path offers this.

Although simple to use, it denies your ability to analyze points in the sales path. You can lose perspective on your marketing dollars’ effectiveness. If you remain unaware of the most effective ROI sources (e.g., blogs, testimonials, newsletters), you can’t track budget spending.

W-Shaped Attribution

A w-shaped attribution model gives most credit to conversion opportunities. It also credits lead generation opportunities. This model uses the position of the sales path to distribute credit.

Using this model, you can learn how your marketing channels overlap one another. You’ll also learn which touchpoints push consumers into each stage of your sales funnel.

This allows you to optimize for future results. You can lose sight of other essential data by only focusing on three points in the sales path.

Z-Shaped Attribution

The z-shaped attribution model credits four points of the sales path. It encompasses the first touchpoint, lead creation, qualified leads, and customer wins.

As a multitouch attribution model, this offers more than the others. Not only does it merely divide ROI. It also allows you to analyze many strategies at once.

There is one significant downside to this attribution model. It can lead inexperienced marketers to assume the importance of individual touchpoints.

Single-Touch Attribution Model

Single-touch attribution models connect one touchpoint in the customer’s path of sale. This touchpoint marks the origin point of interaction and the sales moment.

Last Click Attribution

Last-click attributions, the Google Ads default, credit conversions, sale, or target goals for the last selected keyword or ad. If you plan to analyze data, this attribution model only provides the end of the sales path.

It does not allow for retargeting and is therefore ideal for outdated marketing strategies. If you want on-trend social marketing, you should avoid a last-click attribution model. Only work with experts who understand this if you want the most current social marketing services.

First Click Attribution

The first click attribution model works well for awareness-focused campaigns that aim for the top of the funnel engagement. A first click communicates which first ad or keyword a customer clicked.

The first click attribution demonstrates proper audience targeting. It also communicates the use of the correct keywords, calls to action, and generating awareness. It is not suitable for converting, though, which means more inferior ROI.

Algorithmic Attribution

The algorithmic or last nondirect click attribution model credits direct versus indirect nontraffic into a single touchpoint in the sales path. Simple to set up, it makes differentiating traffic types more effortless than ever, too.

Like other single-touch models, it is oversimplified, ignoring the possible impact of direct traffic ROI.

Custom Attribution

The custom attribution model, also known as the last most crucial model, offers you the most flexibility of single-touch attributions. Its simplicity allows you to optimize your most effective marketing channel and analyze targeted campaigns more.

Its downside is also its simplicity. A single channel view limits your chances of optimizing the rest of your marketing strategy.

Let Us Help You Find the Right Attribution Model

Even with this guide, transitioning from an older marketing attribution model to an updated attribution model takes time and expertise. You may find yourself struggling o select the correct model, so consider turning to a professional marketing agency like Drive Social Now.

We can help increase your ROI with our expertise in social marketing services. We can support your business with social media ads, websites that sell, SEO, PPC, branding, and more. Contact us today so we can help your business grow in success and recognition.