Use Attribution Modeling to Tune Your Online Marketing Budget
To help you allocate your online marketing dollars wisely, give Google Analytics’ Attribution Modeling Tool a spin. This tool is designed to give you a sense of which online channels customers used to interact with your business before they decided to make a purchase on your website. It also offers you different ways to model the profitability, or conversion value, of each channel depending on where and when those interactions occurred on the path to purchase.
You can access the tool via the left-hand navigation in your Google Analytics profile by clicking Conversions > Attribution > Model Comparison Tool.
To start, we recommend clicking through the different models and noting how the conversion values change for each channel depending on the model you have selected. As you learn more about the models, you may find that one is most relevant for your marketing strategy. Here are some of the models you can utilize:
- “Last Interaction,” which gives all the conversion value to the final channel the customer used before making a purchase.
- “First Interaction,” which gives all the conversion value to the first recorded encounter a customer had with your business online.
- “Linear,” which gives the same conversion value to each channel interaction on the conversion path.
For more information about the attribution models available in your Google Analytics account and their different uses, we’d recommend viewing Google’s article “About the default attribution models.”
To make informed decisions about your online marketing, it’s important to understand which channels are most profitable. The Attribution Modeling Tool helps you gauge this profitability in ways that best suit your business approach.
About the Marketing Bite
Marketing Bites are short actionable tips to help you market your business. Each Bite contains a marketing idea and an easy to complete action. The Marketing Bite is emailed weekly to subscribers.
"You offer such great information - I feel like I am gaining a bigger and smarter marketing presence. Thank you so much!" -Pamela
"Thanks. I have been getting a lot of value from [the Marketing Bite]. If I need help with marketing on the web in the future, I know where to find the experts." -Jodi
Need a Website?Get a Quote
- Marketing Bite: Simplify Your Homepage Text
- Marketing Bite: Connect with Email Subscribers on Facebook
- Marketing Bite: Use Attribution Modeling to Tune Your Online Marketing Budget
- Marketing Bite: Hone Your Marketing Approach Using Customer Observations
- Marketing Bite: Test Your Mailing List Signup
- Marketing Bite: Read Facebook's Admin's Guide to Moderating Your Page