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With so many marketing channels driving traffic to your business, how are you supposed to know which one is responsible for pulling in customers? Was it that blog article you wrote six months ago, or the Facebook article you posted last week?
To help you analyse which channel is converting into sales, you need to use a multi channel attribution model.
Attribution models are frameworks that help you determine the value and conversion rate of each touch point in your marketing channel. These touch points are the points of engagement that provide information about your business to the consumer.
The six most popularly used multi channel attribution models are:
Using a multi channel attribution model can help you analyse the performance of your marketing channels, run tests and gather data to better optimise your conversion rates. Let’s take a look at each of the models in more detail.
With the first interaction model (also known as the first-click model), the first touch-point that the consumer interacts with is the one that receives all the credit for bringing in the customer. Any other touch-points that could have been interacted with before the purchase are ignored.
For example, if the customer finds your company through Twitter, this channel will get all the credit regardless of whether they viewed your paid ad two weeks later and visited your site.
Advantages:
Disadvantage:
When to use this model
If your industry has a short buying cycle or you need to bring in a large quantity of top-of-funnel customers.
Similar to the first interaction model, in the last interaction model (also known as the last-click model), the last touch-point that the customer interacted with is the one that receives all the credit for bringing in the lead. Any other touch-points that led up to the purchase are ignored. This point is often just before the conversion.
For example, the customer might have interacted with the company multiple times but the point that will be counted is the moment they go to your website directly and make a purchase. This model is often the default model used by platforms including Google Analytics.
Advantages:
Disadvantage:
When to use this model
The last interaction model is great if your industry has a short buying cycle and there aren’t many touch-points before your conversions. You can also benefit from this if you have a sales funnel that is wide at the top and narrow at the bottom.
With this model, the interaction that gets the credit is the last interaction before the direct search or the paid ad click. This helps to eliminate any direct traffic before the conversion.
Advantage:
Disadvantage:
When to use this model
If you want a model that’s similar to the last click model and has a lot of direct traffic links for you to analyse. It can be hard to determine how customers that enter via direct traffic knew about you to begin with.
Even Google Analytics and other platforms have trouble identifying the source of direct traffic. Traffic will sometimes be marked as direct if the platform is unable to pinpoint where the visitors came from.
With this model, you split the credit for the conversion equally between all the interactions and touch-points a customer has had with your business.
For example, if a customer bought a £200 digital course through a paid ad and you have 5 touch-points, each would get 20% credit and are valued at £40.
Advantage:
Disadvantages:
When to use this model
If you want a model that is simple and easy to explain to your clients, this will demonstrate the value of each channel.
This is similar to the linear attribution model as it spreads the value across multiple channels but instead focuses on when the touch-point occurred. The point closest to the time of purchase is more valuable than the point furthest away.
Advantage:
Disadvantage:
When to use this model
This model is best if your industry has a long sales cycle such as those with expensive B2B purchases.
This model splits the credit for a customer purchase between the first and last interaction. This has also given it the name “U shaped” attribution. With this model, 40% is given to each of these points and 20% is spread out between the rest.
Advantage:
Disadvantage:
When to use this model
If you want a focused model that still acknowledges the importance of all the touch-points in your marketing strategy.
Each of these multi channel attribution models can be used to determine the ROI for all of the marketing channels you have in place. It is worth noting that there is no “best” model. They all can be used in different circumstances and all come with their own benefits and drawbacks.
The most common difficulty in trying to decide which model to use is that they all have their own flaws, and many focus too much on a single point in the cycle. You will need to decide which point is the most important factor in your strategy and which touch-points you are willing to forgo the value of.
If you are looking to increase your conversion rates and maximise your revenue, it is important that you consider your multi channel attribution models and set your marketing channels up correctly.
As a digital consultancy with 15 years of marketing experience and a focus on conversion rate optimisation and paid ads, we have helped many companies achieve their goals and raise their revenue.
If you need help with setting up your marketing channels in a way that maximises your returns, get in contact with us today.
Are you wondering how to turn your traffic into paying customers? Did you know that different types of lead funnels are required depending on the type of product or service you offer?
Many companies make the mistake of using a one-size-fits-all approach when there are hundreds of different lead funnels that they could use to achieve different goals.
Let’s take a closer look at choosing the most optimal lead funnel for your business.
Similar to a regular kitchen funnel, a lead funnel acts as a tool for leads or potential customers to go through. The aim is to turn interested visitors and prospects into long-term paying customers.
Not every visitor that goes through your funnel will end up buying from you, and people drop off at different stages of the funnel. As a marketer, your job is to test and tweak your funnel with minor changes to increase your conversion rate.
The main reasons why leads fall out of the funnel include a lack of interest, needs not being fully met or not being able to relate to your brand.
All business models require different funnels that are built in differing ways.
Here are three simple funnels that you can use to generate leads:
This funnel aims to entice viewers to take the desired action in exchange for value. There are many different types of lead magnets that you can offer, including checklists, PDF reports, free e-books or a short course. It’s up to you to choose the right lead magnet that resonates with your audience.
The most common order for this type of funnel is: lead magnet landing page into an opt-in page into a download page. Here is a small explanation of these stages.
Lead magnet – The aim is to draw visitors into signing up to your mailing list. Then, you can nurture them with communications, offers and discounts. The benefits should always be clearly outlined on your lead magnet pages and have a call-to-action button in clear view.
Opt-in page – This should have a clear section where the visitors can add their contact details so that they can receive their freebie. It should at least include their name and email address. The best practice here is to ask for as little as possible so that you do not scare them away.
Download page – This is the final page that visitors will see before they can download and receive their free gift. On this page, it is important to thank them so you set a positive first impression and ask them to check their email for further information.
Key tips to remember:
With this type of funnel, you create a short quiz. This gives you information on your leads, allowing you to market to them better. It also helps you to qualify them with micro-commitments. Filling out surveys requires a small amount of time and effort.
The most common order for this type of funnel is: opt-in page into the survey page into a results page. Here is a small explanation of these stages.
Key tips to remember:
This type of funnel is focused around a live event that you host, whether that be a live demonstration or a summit. A prospect can only view this event once they have verified their attendance. It helps to build trust because you can use this opportunity to demonstrate authority and address any questions or reservations your audience may have.
The most common order for this type of funnel is: opt-in page into a webinar page and then into a checkout page. Here is a small explanation of these stages.
Key tips to remember:
The best way to follow up with your lead funnel is to send three emails after they have opted into your email list. This helps to nurture them and keep your company at the forefront of their mind.
There are three email stages you send in order.
Building the perfect lead funnel that complements your business model is difficult. You need the understanding of what makes customers tick and the time to tweak your funnel to increase conversion rates.
Highly optimised lead funnels can be an excellent tool that provide you with an endless stream of revenue. However, without the knowledge, you can spend precious time shooting in the dark.
As a digital consultancy with 15 years of marketing experience and a focus on conversion rate optimisation, we have helped many companies achieve their goals.
If you need help with creating and setting up your funnel in a way that maximises returns, contact us today.
Do you feel like your Google listings are like islands in a sea of search results, promoting the same brand but existing separately?
When visitors search your company name, your Google+ page will appear in the Google organic search results. It’s also where you engage with your followers and target audience. Completely separate is your Google Local page, which contains reviews and appears on Google Maps searches. Historically, the two have existed in tandem, without any interaction – social content and follower growth plays no part in your local listing traffic, and vice versa.
It’s frustrating, I know.
Well, in this article, I’ll talk you through how you can merge your Google Local listing with your Google+ brand page, so they can coexist in a more symbiotic way, for better search rankings in the future.
1 in 3 searches on Google is local. Yes, 33% of searches on Google are related to location. That’s why every business should take their place in the Google+ directory of all businesses on the internet to maximise their visibility in search results.
Many business, though, are confused about where they need to be listed and how functions like Google Local and Google Maps relate to Google+. Some are frustrated, too, that they have to create separate but duplicate brand listings on Google Maps, Google Local and on Google Plus, without any interconnectedness between services.
Many brands have more than one G+ page, a local listing that shows in the SERPs next to the main search results, and a seperate G+ page that they setup, with the brand, followers and reviews, and custom URL.
But how can you get these two platforms working together?
Thankfully, Google have announced a new function that will take elements of your Google Local page and combine them into your Google+ brand page. By combining your Google services, you’ll benefit from the localisation of your local page, while maintaining the brand, reviews, followers and custom url of your Google+ page.
Put simply, you’ll benefit from far greater visibility. All reviews, maps and address information can be transferred from your local to your brand pages.
So how do you do it? Well, let me talk you through it. Here’s my step-by–step guide to merging your Google Local Listing with your brand Google+ page.
Step 1: Login to your Google+ account, select ‘Pages’ from the left-hand navigation , choose your Local page and click ‘Manage This Page.’
Step 2: Choose ‘Settings’ and scroll down to ‘Link A Different Page to This Location’. Choose your main Google+ brand page that you would like to connect to Google Maps. Wait for a message confirming that the two accounts are linked. Your Google+ brand page should now display a Verified Local Badge (tick mark) below its main icon.
That’s it…
I strongly recommend merging your Google Local listing with your brand Google+ page as soon as possible. It only takes a few minutes, and you’ll notice a major improvement in your online visibility. Still not sure why or how to link them up? Get in touch, today. I’m your outsourced digital director and will be happy to help.
