Marketing attribution — knowing the value of each marketing touchpoint — has never been more complicated. The explosion of marketing channels and devices has added layers of complexity to what was, a few years ago, a relatively simple funnel. Whether or not your digital teams are working in channel or device silos, one of the absolute requirements of attribution is for all parties to agree on the goals of the attribution program, the key metrics involved, and the models to test.
Among the metrics your teams need to understand, the most important, and effectively functioning as the fulcrum of a good attribution program, is the lifetime value (LTV) of a customer. U-shaped, Game Theory, econometric, Time Delay, etc., are all nuanced and complex, and they give you more insights than simple last-click models. But none of them paint an exact picture, which is why part of the secret to mastering attribution is knowing when your goals have been reached versus when the pursuit of perfection is a dangerous rabbit hole.