Attribution refers to giving credit to a particular advertising campaign or collection of campaigns for conversions. LeadsRx offers several different attribution models and allows you to change them at any time to see what works best for your company.
Any Touch Attribution
Also known as the “Influencer Attribution”. Assigns credit to all touchpoints giving each one full point. This basically says each marketing touchpoint played a role in “influencing” a consumer to convert… the software does not weight one touchpoint any more importantly than another. In this model, the total number of conversions may be greater than the actual count.
Closer Touch Attribution
Assigns credit for the conversion to the last touchpoint but only if it occurs within a predefined time period. The default time period is 2 minutes, and this can be changed to any value appropriate for your company.
First Touch Attribution
Assigns credit for the conversion only to the first touchpoint that the visitor encountered.
Last Touch Attribution
Assigns credit for the conversion only to the last touchpoint that the visitor encountered.
Linear Multi-Touch Attribution
Assigns each touchpoint a fraction of the attribution. For example, if a conversion path has 5 touchpoints, then each is given 20% credit, or a score of 0.20.
Weighted Multi-Touch Attribution
First and last touchpoints are each give 40% of the attribution credit, and all other touchpoints divide the remaining 20% evenly.
Algorithmic Multi-Touch Attribution
The LeadsRx algorithmic model assigns weights to each of your touchpoints based on past performance of those touchpoints. The system looks at both positive and negative outcomes of touchpoints in terms of contributing to conversions. In addition, the frequency of a touchpoint is taken into consideration in the algorithm making this model particularly well-suited for brand advertising as opposed to direct-response advertising.
Average Cost Per Conversion
Calculating average cost per conversion takes into account all the conversions received from paid sources and what those costs were, all conversions that resulted from free groupings such as organic search, and any overhead costs you have entered such as ad agency fees. Using all of this data, LeadsRx calculates an average cost per conversion.
Touchpoints represent specific marketing efforts like email marketing, online advertisements, social marketing, and even direct mail.
The default grouping includes all marketing campaigns that are NOT included in another grouping. These usually include direct traffic where a visitor typed your URL directly into the browser, as well as referral traffic where the visitor came through a link on another website directly to your site.
Marketing touchpoints can be organized into “groupings” to report results for the grouping as a whole. Examples of groupings could be all Pay-per-Click Advertising, 3rd Party Syndication Programs, or a Fall Promotion. Groupings are totally up to you and should be based on how you want to view performance of marketing efforts.
The number of conversions divided by the number of campaign participants. Usually, the higher the conversion rate, the better your website or landing page is working at getting new customers.
A “conversion” can be just about anything you want to track as a revenue or customer goal. For example, you could track new account signups, newsletter subscribers, eCommerce purchases, etc. Conversion can also be thought of as business “outcomes”.
Direct Search Traffic/Direct Visitors
When a visitor typed your URL directly into the browser to reach your website, this is considered direct traffic. They were already familiar with your brand and came directly to you.
ROAS / Return On Ad Spend
Return On Ad Spend is calculated by looking at the cost of an advertising grouping compared to the revenue received from conversions attributed to this grouping.
Visitors to your site within the specified time period are unique visitors only on their first visit. This number is often different from “total visitors” since that number usually counts visitors who leave and then return as two visitors.