The path to conversion is complex. Although you have in mind the various possible channels that lead to it (eg Search, Display, Direct Access, Price Comparators). You still wonder how to value the channels.
This will be possible thanks to marketing attribution models.
Concretely, an allocation model is used to assign a conversion to one or more channels depending on the chosen option, namely Single Touch Attribution (STA) or Multi-Touch Attribution (MTA).
Maybe you already have one in place in your company? If so, between us, there is a good chance that it is the Last Click. It comes from the Single Touch Attribution model which assigns the entire conversion (and thus the entire credit) to the last interaction before the conversion.
Take the example of Paul, Acquisition Manager of a French ready-to-wear company. He launched a campaign for his new Autumn / Winter collection via Display, Comparators and Search channels. By opting for an STA model (here Last Click), it will only obtain a partial vision of the performance of its Mix Media, and not valuing the multiple partners who intervene in the Customer Journey
Historically anchored as a reference for advertisers, the Single Touch model brings a clear vision, easily understandable and operationally simple to set up, but biased.
Indeed, although STA models can be customized by deprioritizing interactions such as those related to brand notoriety (direct access, SEA Brand …) or scenarios that value the beginning of the journey, this model has the flaws of its qualities. It continues to assign a conversion to a single channel.
The other option would then be to move towards multi-touch attribution models that can attribute the sale to multiple channels. Standard models exist such as linear or time decay. It is also possible to customize an MTA model based on engagement generation or distribution criteria.
STATE OF PLAY
To help you see more clearly, here is a listing of the most frequently used models with the associated descriptions:
There are so many options to manage your attribution, it remains to know when and how to use an attribution tool.