Understanding the Journey to Conversion with Full Funnel Attribution

 

Full funnel attribution is a powerful analytical approach that provides marketers with insights into the entire customer journey. Using this comprehensive model provides marketers a better way to measure and analyze the performance of marketing channels across the entire customer journey with accurate marketing campaign attribution. Unlike traditional models that focus on specific touchpoints, this approach takes every interaction a customer has with a brand into account.

 

The Customer Journey

Understanding the customer journey is essential to grasp the full funnel concept. The journey typically consists of multiple stages, including:

  • Awareness
  • Consideration
  • Intent 
  • Purchase
  • Advocacy

Each stage represents a different level of engagement, and customers may interact with various touchpoints, like social media, email, and search ads, at each stage.

customer journey calculator printed out graphs pen

 

 

Full Funnel Attribution Methodologies

 

First-Touch Attribution:

  • Attributes the entire value of a conversion to the first touchpoint the customer interacts with.
  • Useful for understanding the initial source of awareness.

glowing "start" button man in suit pushing button first touch model

 

Last-Touch Attribution:

  • Allocates the entire value of a conversion to the last touchpoint before the conversion.
  • Highlights the channel that directly contributed to the conversion.

finish line - "finish" on track

 

Linear Attribution:

  • Distributes the value of a conversion equally among all touchpoints in the customer journey.
  • Offers a more balanced view of the customer’s interactions.

Linear line graph

 

Time Decay Attribution:

  • Assigns more value to touchpoints that occur closer to conversion.
  • Reflects the idea that interactions closer to conversion are more influential.

one red influencer three blue influencers illustrates time decay model and influence of later-in-cycle touchpoints see saw

 

Algorithmic Attribution:

  • Utilizes machine learning algorithms to assign varying weights to different touchpoints based on their historical impact.
  • Provides a dynamic and data-driven approach.

person icon - trying to decide where to go next shapes around him with arrows to show next steps

 

 

The Impact of Using a Full Funnel Approach 

 

Optimized Budget Allocation:

  • Enables marketers to allocate budgets more effectively by identifying high-performing channels.

ad campaign on ipad red coffee cup with coffee notepad money / change donut pencils pens all on a desk - marketing budget allocation

 

Improved Campaign Effectiveness:

  • Provides insights into which touchpoints are most influential at each stage, allowing for the optimization of content and strategies.

3D data insights bar graph on ipad person holding hand over ipad arrow pointing up

 

Enhanced Customer Understanding:

  • Offers a holistic view of customer behavior, helping marketers understand the complete customer journey and make data-driven decisions.

person on phone with 3D social media icons - HAPPY - understanding the customer

 

Increased ROI:

  • By understanding the contribution of each touchpoint, marketers can make informed decisions to improve overall campaign performance and increase return on investment.

ROI on block letters notepad sticky notes pen magnifying glass

 

 

Full funnel attribution is a powerful tool for modern marketers seeking a comprehensive understanding of their customer’s journey. By moving beyond traditional models marketers can make data-driven decisions that lead to more effective campaigns, optimized budgets, and ultimately, increased business success.

 

 

Learn more about how to customize attribution models within Salesforce
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Morgan Early is an established marketing leader with nearly two decades of experience. After graduating with a degree in Broadcast Journalism from Minnesota State University Moorhead and working for years at a news station in Fargo, ND, Morgan moved to Minneapolis/St. Paul to start her career in marketing. While working full time and learning the marketing ropes, Morgan earned her Master of Mass Communication degree from South Dakota State University. Eventually, Morgan and her husband longed for warmer weather and migrated south to San Antonio, Texas for the long haul – although Minnesota will always be “home”. When she isn’t working, she enjoys spending time with her husband and three little dogs. She also takes dance classes, enjoys kayaking, has an interest in fashion, and is an experienced traveler with an extensive list of countries visited (and an even bigger list of countries she still needs to make it to).

Morgan Early

Author: Morgan Early

Director of Marketing, Full Circle Insights