We've learned so far that a customer journey is a sequence of numerous touchpoints. But there is one question to solve: Which action in my customer journey influenced my sale the most?
To answer this question marketers all over the world started to try different weighting models to get close to some kind of truth. One of the most known and popular model is the last click model. In this model only the last touchpoint in a customer journey gets all the credit, even though other marketing actions have been part in the same successful journey. Let's imagine we are talking about football and only the player who scored will get paid - seems to be pretty unfair right?
Still, next to last klick there are other statistical or rulebased models in place such as:
First Click Model= The first action gets all the credit for the customer journey
Linear Model= Credit is splitted equally between all actions in a customer journey
Bathtube Model= The first and the last action get most of teh credit, the other touchpoints split the remaining credit equally
As you can see - there are many different models, but all of them have one thing in common: They are rulebased. Some actions will not get the credit they should get based on their performance across all marketing actions and customer journeys.
Hence the market craved for an innovative way to track the performance of their marketing actions holistically across all actions and customer journeys, the rise of the dynamic multi-touch attribution began.
A multi-touch attribution considers all touchpoints in a successful customer journey as well as in not converting customer journeys. By comparing successful touchpoint sequences with non successful touchpoint sequences the multi-touch attribution calculates conversion probabilities for different sequences and touchpoints. Based on the probabilities each touchpoint gets a conversion weight. Hence all touchpoints who have an effect on a sale will get credit - no matter what.
If you want to learn more about the comparison between rulebased models and dynamic multi-touch attribution click here.