It is important to understand the difference between various attribution models. Odyssey has four pre-set models: first click linear, last click linear, linear and U-Shaped.
The First Click Linear model is the standard pre-set attribution model. In this model, most of the value is attributed to the first touchpoint. This is based on the idea that the first – initiating - touchpoints are most valuable to your business. The attributed value over the touchpoints after the first decrease linearly, resulting in the lowest reward for the final touchpoint before the conversion.
The Last Click Linear model is applicable when assumed that the last – converting - click is most valuable to you. The first touchpoints are rewarded a smaller amount, building up to the last touchpoint that is of highest value.
The Linear attribution model distributes the value equally over all touchpoints in the customer journey. This model is a good fit when all touchpoints are of equal importance to your business.
The U-Shaped (Position Based) attribution model gives the most credit to both the first and the last touchpoint of the customer journey, whilst it divides the rest of the credit to the touchpoints in between. The first and the last touchpoint get 40% of the entire credit, and the remaining 20% are being distributed between the rest.
To be able to choose between those, you have to open Odyssey and enter the Attribution Models tab after clicking on View Settings. Then you are able to choose your attribution model of choice. If needed, you are also free to customize your model by inserting your own formulas.
Want to learn more about marketing concepts, metrics, and terms that concern attribution? Please consider reading our blog articles or check our Attribution Academy and become an online marketing master!