Facebook offers several attribution models that you can use to understand how your ads contribute to conversions. These models include:
- Last Click/Visit Attribution Model: This model gives all the credit for the conversion to the ad that a customer last clicked or engaged with before making a purchase. It’s useful for crediting only the last click or visit in a conversion path but may not reflect the impact of earlier interactions.
- First Click/Visit Attribution Model: This assigns 100% credit to the first click or visit that initiated the conversion path. It’s helpful for valuing the first-click or visit in the consumer’s conversion journey but might overlook the impact of subsequent touchpoints.
- Linear Attribution Model: Distributes credit evenly across all touchpoints encountered along the customer’s journey. Each touchpoint, regardless of its position in the conversion path, is considered equally important.
- Time Decay Attribution Model: Assigns more credit to touchpoints that occurred closer in time to the conversion. It’s more realistic in representing how customers interact with and consider Ads as they get closer to converting.
- Positional Attribution Model: This model assigns weighted credit for a conversion to the first and last touchpoints in a conversion path, while the rest of the credit is shared equally across other touchpoints. It’s beneficial for understanding the value of the first and last touchpoints but might understate the influence of middle touchpoints.
- Even-Credit Attribution Model: Equally distributes credit among all touchpoints, acknowledging their collective importance. It’s ideal where multiple touchpoints significantly contribute to conversions but may oversimplify the impact of each touchpoint.
Choosing the right attribution model for your Facebook ads depends on your business goals, the nature of your product or service, and the customer journey. For instance, if you have a short sales cycle, a model like the Last-Click or Time-Decay might be more appropriate. For a longer sales cycle or a focus on brand awareness, the First-Click or Positional model might be more suitable.
Additionally, with changes in privacy policies and updates like iOS14, the reliability of some data obtained through Facebook Ads Manager has been affected. This means you might be missing some events and conversions, necessitating a more nuanced approach to attribution and possibly integrating other tools like Google Analytics for a more complete picture of your marketing performance.
For more detailed information, you can refer to the sources: Stiddle Blog, Kitchn.io, Hevo, and NestScale.