Set up revenue attribution in GA
1. Access the list of different attribution models in Google Analytics.
Go to Conversions > Multi-Channel Funnel > Model Comparison Tool and click on select model. The list of available attribution models will appear in the drop-down menu.
2. Choose the attribution model that makes sense from your business perspective.
Select the model First Interaction if the products you sell have a short buying cycle or if you want to learn which traffic sources are important in the early phase of the customer journey. Select the model Time Decay if your sales cycle is very long. Select the model Position-Based if your users use multiple touchpoints before the conversion, and you want to highlight the beginning and the end of the customer journey. Select the Linear Model if you’re starting out with your online store and want to have a complete overview of all the possible channels that lead to a conversion.
3. Compare the default Google Analytics attribution model Last Interaction with your preferred attribution model identified in the previous step to get a different perspective of the performance of your channels.
Go to Conversions > Multi-Channel Funnel > Model Comparison Tool to compare the different click attribution models. Click on select model and choose the preferred model from the drop-down menu. Under % change conversions (from last interaction) you can view how the conversion count changed for each of the channel when applying the attribution model you selected.
4. Get more granular data and compare the attribution models for every single traffic source and Google Ads campaign.
Go to Conversions > Multi-Channel Funnel > Model Comparison Tool. Click on select model and choose the preferred model from the drop-down menu. Select source/medium to replace the default channel view with a more detailed overview of all the specific traffic sources. Select Google Ads campaigns to better understand the role of each of your Google Ads campaigns.
5. Use the insights to make strategic decisions about your marketing channels and specific Google campaigns.
If the channel or campaign: Generates few conversions regardless of the attribution model that you use, consider reducing spend in this channel, optimizing it or deactivating it. Generates many conversions regardless of the attribution model, prioritize it in your marketing strategy, increase spend to maximize the potential. Generates many last-click conversions, but few conversions according to the other attribution models, keep investing in this channel. At the same invest in the channels whose importance increases when your preferred attribution model is applied. Generates few last-click conversions, but it’s importance increases when your preferred attribution model is applied, keep investing in the channel. While it doesn’t drive last-click conversions, it plays an important role in your customer’s journey.