How does the full path attribution model calculate credit?

Q: How does the full path attribution model calculate credit?

A) Equal credit is assigned to all interactions that occurred before the conversion.
B) More credit is given to interactions that happen closer in time to the conversion.
C) All credit is assigned to the last interaction that led to a conversion like a closed won deal
D) 22.5% of credit to the first interaction, the interaction that created the contact, the interaction that created the deal, and to the interaction that closed the deal. The final 10% is assigned to the remaining interactions evenly.

Correct Answer is D) 22.5% of credit to the first interaction, the interaction that created the contact, the interaction that created the deal, and to the interaction that closed the deal. The final 10% is assigned to the remaining interactions evenly.

Explanation:

The full path attribution model is a marketing analytics model that aims to give a complete picture of how different marketing channels and touchpoints contribute to a conversion. Unlike other attribution models, which assign credit to only one or a few touchpoints, the full path attribution model attempts to give credit to all touchpoints that a customer interacts with on their way to making a purchase. Here’s how the full path attribution model calculates credit:

1. Identifying touchpoints: The first step in the full path attribution model is to identify all the touchpoints that a customer interacts with on their path to making a purchase. This could include social media ads, display ads, search ads, email campaigns, and more. Each touchpoint is assigned a unique identifier that allows it to be tracked and analyzed.
2. Assigning weight to touchpoints: Once all the touchpoints have been identified, the next step is to assign weight to each touchpoint. The weight is typically assigned based on the level of influence that each touchpoint has on the customer’s decision to make a purchase. For example, a touchpoint that leads directly to a conversion, such as a click on a search ad, might be assigned a higher weight than a touchpoint that serves to build awareness, such as a display ad.
3. Analyzing customer journeys: With the touchpoints and their weights identified, the full path attribution model analyzes customer journeys to determine the role that each touchpoint played in the conversion. This involves tracking each customer’s interactions with the various touchpoints, as well as any associated conversions, such as a purchase or lead form submission.
4. Allocating credit: Based on the analysis of customer journeys, the full path attribution model allocates credit to each touchpoint that played a role in the conversion. The credit is typically assigned based on the touchpoint’s weight and its position in the customer journey. Touchpoints that are more influential and closer to the point of conversion are typically assigned a higher credit than touchpoints that are more peripheral.
5. Aggregating data: Once credit has been allocated to each touchpoint, the full path attribution model aggregates the data to provide a complete picture of how different marketing channels and touchpoints contributed to the conversion. This allows marketers to identify which channels and touchpoints are most effective at driving conversions, and to adjust their marketing strategy accordingly.

In summary, the full path attribution model calculates credit by identifying touchpoints, assigning weight to each touchpoint, analyzing customer journeys, allocating credit based on weight and position, and aggregating data to provide a complete picture of how different marketing channels and touchpoints contribute to a conversion. By using the full path attribution model, marketers can gain a more comprehensive understanding of their marketing performance and make more informed decisions about their marketing strategy.