Different attribution models for conversions/revenues
ATTRIBUTION MODELS :
Attribution model is a strategy to enable the marketers to analyze and assign credit to the marketing touchpoints (email, SMS, push notifications, and web banners) that occur at specific steps of the user journey. The marketers can scrutinize the first interaction to the last interaction of the customers with the touch-points. Further, they can know which of the campaigns are engaging the customers most effectively.
You can map out the revenues as well as track conversions on the basis of the attribution models. Read this article to know the different attribution models in NotifyVisitors.
DIFFERENT ATTRIBUTION MODELS TO TRACK REVENUE/CONVERSIONS :
NotifyVisitors lets you map out the conversion and also enables revenue mapping on the basis of different attribution models. Read them below :
- Simple interaction: In the simple interaction attribution model, the credit is given to all the channels and touchpoints that led to the revenue generation/conversion.
- Last interaction: In the last interaction attribution model, the credit will be given to the last interaction that resulted in the revenue generation. In other words, you can assign credit to that channel or campaign with which the customer interacted for the last time, which resulted in revenue generation/conversion.
- First interaction: The first interaction, however, focuses on giving credit to the channel or campaign with which the customer interacted for the very first time that consequently led to revenue generation/ conversions.
- Linear interaction: In the following attribution model, the credit is equally distributed amongst the different channels or campaigns with which the customer interacted in his journey and the interaction through that channel or campaign resulted in the revenue generation/conversion.
HOW DO ATTRIBUTION MODELS WORK IN NOTIFYVISITORS :
NotifyVisitors enables you to track the conversion and revenue for different events on the basis of the attribution models. Read below to know how to navigate to the attribution models in NotifyVisitors dashboard and what are the different attribution models that notifyvisitors provide, to track the conversions and to map out the revenue.
How to view the revenue analytics on the basis of attribution models in NotifyVisitors:
- Navigate to the NotifyVisitors dashboard> Analytics> Revenue. Go to the attribution model and view the different attribution models in the drop-down menu.
2. Determine the time -frame from the date filter and choose the event from choose event category. If you are mapping out revenue on the basis of different attribution models, you will be knowing the revenue generated from different channels, campaigns, and touch-points.
- Attribution models will tell you the analytics in respect of the different channels, campaigns, and touch-points. You can decide which channel or campaign you need to give credit for the revenue generation.
- You can view the below images for the total revenue generated through different channels and campaigns in the simple interaction attribution model.
- View the below images for the total revenue generated through different channels and campaigns in the last interaction attribution model.
How to view the conversion analytics on the basis of different attribution models in NotifyVisitors :
1. Navigate to the NotifyVisitors dashboard> Analytics> Conversions. Go to the attribution model and view the different attribution models in the drop-down menu.
2. Determine the time -frame from the date filter for which you will be tracking conversions. If you are tracking out the conversions on the basis of different attribution models, you will be knowing the conversions from different channels, campaigns, and touch-points.
- Attribution models will tell you the analytics in respect of the different channels, campaigns, and touch-points. You can decide which channel or campaign you need to give credit for the sales or conversion.
- You can have an overview of all the goal conversions wherein, you can view the conversions from multiple channels. Also, you can view the conversion analytics as well as the interactions (where the user performed an action but did not convert) from an individual channel.
Note: Select the attribution model and date range to view the conversion analytics of different channels, campaigns, and touch-points.
Simpler interaction :
Linear interaction :
Conclusion
Attribution models are meant to help you understand the source of revenue generation and conversions. In other words, you can know how a person converted by giving credits to different channels, campaigns, and touch-points. The attribution models can help you strategize future campaigns. You can choose the right attribution model to unlock the powerful data.
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