This is probably the best, most reliable attribution model. But it is also the most difficult to implement and requires the most robust marketing software and tools.
This model is fully customizable based on your customers' sales cycle and goals. It requires a deep understanding of historical trends to understand the effectiveness of marketing channels.
Using this model, you will get the best idea of the value of your marketing strategies. To implement this model, you just need to know what you are doing or work with the best experts in the field of marketing.
Pros
Offers the most detailed and deep attribution for customer iran email list acquisition and conversion.
Personalized marketing analytics based on your customers and their goals.
Cons
Difficult to implement attribution model.
Excellent data is required, both historically and on an ongoing basis.
Problem with first and last touch models
To understand the problems with first and last touch models, you first need to understand how they work.
The first-touch model attributes all conversions to the first interaction with the customer. So if a customer finds you through Instagram, that channel gets all the credit for converting the customer. But in reality, it takes much more than one interaction to convert. You also need to nurture them with text messages and emails to show them why they should buy from you.
The first touch model ignores additional ads in Google search results that they interact with, downloading an ebook from your site, and personalized email recommendations that help them understand your products and how they relate to their needs.
The last touch model works similarly, except it gives all the credit for conversion to the last interaction with your business. You may also hear this model referred to as last-click or last-interaction. With this model, you don’t give weight to the different parts of the customer journey. Instead, all the credit goes to the last interaction.
Using last-touch attribution reduces the value of customer nurturing. It also doesn't account for the high costs of building brand awareness and acquiring new customers.
Both models are short-sighted and do not take into account the process of acquiring a new customer. They do not recognize the value of building relationships and gradually learning about a potential customer in order to tailor your experience to them, which will ultimately lead to conversion.
While these attribution models are the easiest to implement, they do little to help guide your marketing efforts and hone your strategies to get the most out of each customer interaction because they ignore the value of so many customer interactions.