Since we are a Data Agency, we get many requests about Attribution Modeling. We agree, it’s definitely possible to make a lot of fancy models using data. In many cases they even give a better indication of the value of a sale when it comes to touchpoints. However, we don’t think it’s really necessary. First of all, the value of a sale is usually determined by both the timing and combination of touchpoints.
Does that mean that you can decrease your spending on a ‘low value’ touchpoint? We would say no, as you will likely change the aforementioned combination of touchpoints. Secondly, it’s highly dependent on what you, or the chosen model, values the most. Therefore: whichever department gives us the biggest bottle of wine will be crowned the winner.
Where is the value in Attribution Modelling?
So, you might be wondering, what’s the value of attribution modeling? We always focus on the differences between models and make sure we understand them. When a ‘last click model’ indicates that email is way more valuable than a ‘first click model’ tells us, it shows that email is probably the end of the chain of touchpoints. You should therefore, in that case, focus on sealing the deal with email. Does it then make sense to start an email campaign to gain new prospects? Probably not. Would you need to invest more in retargeting and reminder emails to make sure your customer finalizes the purchase? For sure!
How to use GA4 attribution modeling
Data should not be used to make more advanced models; it should be used in understanding what is actually happening and how that translates to business. GA4 now has an interesting feature to understand attribution modeling even better: you can compare the different models next to each other. Do not use this to assign the highest value to your specific domain, instead look at the difference and understand your domain’s position in the journey of a customer and how you can leverage that position.
After all, when you create an attribution model you could also leverage your position and address the highest value to the department that gives you the biggest bottle of wine. It’s just a new truth you’re creating that is based on the point of view you have chosen.