Which Attribution Tool & Model is best for Startups to track Initial Marketing Efforts?
Startups face the challenge of understanding which marketing channels, campaigns, and creatives are most effective.
Also, they need to connect the long-term performance of users with the sources through which they were acquired.
This involves determining the best attribution models that can track and credit user actions to the appropriate marketing efforts.
Comparing Attribution Tools for Web vs. Mobile Analytics:
Attribution tools vary between web and mobile analytics.
Web analytics tools often use models like first-click or last-click attribution, which are simpler and focus on the initial or final touchpoints.
Mobile attribution tools, on the other hand, might employ more sophisticated models due to the complexity of user interactions on mobile devices. Mobile attribution tools often use multi-touch attribution models to provide a more holistic view of user journeys.
Examples of Common Attribution Models:
- ☞ Last-Click Attribution: Credits the final touchpoint before conversion, commonly used in web analytics (e.g., Google Analytics).
- ☞ First-Click Attribution: Credits the first interaction that brought a user to the website or app, useful for understanding initial discovery.
- ☞ Linear Attribution: Distributes credit evenly across all touchpoints, giving a balanced view of the user journey.
- ☞ Time Decay Attribution: Gives more credit to touchpoints closer to the conversion, often used in longer sales cycles.
Implementing Without Complex Statistical Techniques:
These models can typically be used out-of-the-box from various analytics tools, allowing startups to gain insights into attribution without the need for complex statistical analysis.
This simplification is crucial for startups to make informed marketing decisions with limited resources.