Multi-Touch Social Attribution Models Give Most Accurate Results

Just because your Facebook ads are not getting a lot of clicks doesn’t mean they aren’t performing well. When you have a social media ad running and you aren’t seeing the type of results you want, like clicks or website conversions, think about how many channels you actually go through.

Think About How You Shop Online

When you need something but are not sure on the specifics you Google it, right? What did we do when we were little and wanted something or wanted to know something? You asked your parents and if they’re like some parents, they won’t let you forget it. The internet is like one encompassing parent. We ask it questions, it gives us answers, and then reminds us of whatever we searched for… EVERYWHERE.

Say you Google “types of dinosaurs,” you’ll get top-ranked pages listing all dinosaurs known of. That’s that, right? Wrong. Now you are reading the news online and you see a Google ad to the side about a natural history museum in the next state with a dinosaur exhibit. (Depending on the news site you might even get recommended articles about dinosaurs too.)

Who Gets the Credit?

Maybe you are interested in going to the dinosaur exhibit during a long weekend trip. Not all of us are the type to click directly on an ad, we like to do the research ourselves. What many of us would do is Google the museum first and look at the professionalism of their site, it’s information on pricing, amenities, location, and other exhibits.

If you saw the ad first on CNN.com then, going by the first-touch social model, Google Ads get all the credit because that’s the point of discovery. This is the most common and least accurate model used. Even though you didn’t click on it there, the internet knows you saw it there first.

Working by the last-touch social model, neither Facebook, Instagram, Twitter, etc. would get the attribution for sending you to the website, which can make it appear as though the ad isn’t working because the website alone was the point, not an ad.

This is unfortunate news for businesses that would like to track their performance and know whether or not they are wasting their money on certain services or marketing agencies. Luckily, everything is always evolving and it’s now possible to get more accurate results.

Optimize Marketing Goals with Multi-Touch

In order to move forward with optimizing ads and results, we must delve deeper to figure out where to focus attention and budget when it comes to social media. The multi-touch model allows you to measure the effectiveness every single touch point that leads to the final conversion figure.

Every touch point is equally weighted, which means all points of contact receive the same amount of credit. Marketers use this social model to understand behaviors surrounding the conversion so they can decide which social media channels need increasing focus or elimination.

Position-Based Focuses on Revenue

This one might require a little more thought and skill to decide on. The position-based social model gives two touchpoints on every path to purchase more weight than the other two touchpoints. You can choose whichever two points you want to carry more weight. Many times the outer touchpoints are weighed more heavily than the inner so, that would be the points of discovery and final click for purchase.

For instance, 40 percent of the weight could go to Google Ads because that was the discovery point and 40 to their website as the final click to purchase (not clicking on an ad to get there), 10 percent each to Facebook and Twitter. these would all be flexible per product, client, etc.

If you are looking to report on your metrics for social media, this approach is most effective. Vanity metrics give you a positive picture overall of reach and popularity, but they don’t connect your channels to revenue.

 

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Author turnthepage

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