What is Web Attribution?

Web attribution is a crucial aspect in ecommerce, which involves tracing the journey of a customer from initial engagement to final conversion. It apportions credit to various marketing channels that have had touchpoints with the consumer along their route, such as display ads, email marketing, social media or organic search.

Through this, ecommerce businesses can analyze and understand the efficacy of their marketing strategies, recognizing the channels producing the most conversions, and hence, deciphering where to invest for future marketing initiatives.

Formula

For a simplistic view, the formula for web attribution can be represented as:

Web Attribution = (Conversion from a Channel/Total Conversions) * 100

It indicates the contribution of each channel toward the total conversions in percentage.

Example

Suppose an ecommerce store runs ads on Facebook, Google, and Instagram. A user interacts with the Facebook ad, then the Google ad, and finally converts through the Instagram ad. In the Last Click attribution model, full credit would go to Instagram as the final touchpoint.

Why is Web Attribution important?

• Allocating Marketing Budget: Web attribution provides insights into which channels are most effective, assisting in budget allocation.
• Better Conversion Rate: It enables the optimization of customer touchpoints, leading to an improved conversion rate.
• Customer Insights: Businesses can gain insights into customer behaviour, preferences, and journey patterns.

Which factors impact Web Attribution?

• Attribution model choice: The choice of model can greatly impact attribution, such as First-Click, Last-Click, Linear, Position-Based etc.
• Customer Journey Analysis: Understanding the common pathways can help improve conversions.
• Enhanced Tracking: Good tracking tools and systems ensure better data accuracy.

How can Web Attribution be improved?

• Attribution Window: The length of the attribution window, which can range from a few days to weeks, can impact the results.
• Cross-Device Usage: Consumers using multiple devices can obscure attribution as they might browse on one device and purchase on another.
• Offline Factors: Offline influences like word-of-mouth, physical store visits cannot be accounted for in web attribution.

What is Web Attribution’s relationship with other metrics?

Web attribution connects with various other ecommerce metrics such as bounce rate, conversion rate, and customer lifetime value. An effective web attribution strategy can help reduce the bounce rate, increase conversion rates, and enhance customer lifetime value by streamlining marketing efforts and enhancing user experience.