What is attribution for an online store?
Attribution describes how a conversion is assigned to each of the channels involved in the purchase funnel. Through attribution, we can assess the effectiveness of individual communication channels and determine their role across the entire customer purchase path. Before buying, customers reach our online store through many sources: paid search results, price comparison engines, social media — which is why attribution models exist, used to assign a share of the conversion to specific marketing channels.
We often limit ourselves to checking the effectiveness of only the last source before purchase. In reality, however, analyzing the entire path the user has taken is extremely important. Why is it worth analyzing different attribution models rather than only the defaults visible at first glance in various marketing tools? We may mistakenly cut investment in traffic sources that don't appear to convert, but actually serve as the first touch with our store or reinforce the customer's purchase decision (for example, inspirational content on our social media). By cutting the budget for these channels, we may make sure the customer never even hears about our offer.
We often limit ourselves to checking the effectiveness of only the last source before purchase. In reality, however, analyzing the entire path the user has taken is extremely important. Why is it worth analyzing different attribution models rather than only the defaults visible at first glance in various marketing tools? We may mistakenly cut investment in traffic sources that don't appear to convert, but actually serve as the first touch with our store or reinforce the customer's purchase decision (for example, inspirational content on our social media). By cutting the budget for these channels, we may make sure the customer never even hears about our offer.