Multi-touch Attribution Market Overview
The American Marketing Association has defined marketing as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large." A huge part of it is understanding which marketing campaigns will be the most effective – not only does this inform a company where it should focus its limited resources to both acquire new customers and retain existing ones, but also plan for and anticipate future growth. For most of the 20th century, marketing lacked the measurement tools that allowed campaign managers to effectively calculate ROI. In the 21st century, digital marketing is all data driven and many tools have the impression and conversion costs inbuilt, making it easier to determine ROI.
We live in a multi-device world today which requires a multi-pronged marketing attack strategy. Some of the attribution models used by campaign managers are last touch attribution, first touch attribution, and multi-touch attribution. The Multi-touch Attribution Market has tools which determine the worth of every customer touch point leading to a conversion. This helps understand the marketing campaign or channel that was most effective and worth allocating funds to for future customer generation. It is a set of rules giving “weight” to different marketing mediums. It can also be considered a mathematical equation where one side has the customer touch point as cost, and the other has the conversion value. The models primarily referred to in the Multi-touch Attribution Market are the linear model, time-decay model and custom model.
Multi-touch Attribution Market Drivers
The main drivers of the Multi-touch Attribution Market are-
Multi-touch Attribution Market Restraints
The Multi-touch Attribution Market has models which range from basic rule-based ones to advanced algorithmic ones. All of them share some persistent problems that can be difficult or even impossible to fix. Some of the Multi-touch Attribution Market restraints are-
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