The attribution model is a framework that helps marketers determine the value or influence of different marketing channels and touchpoints in the customer journey. By attributing value to different interaction points, a company can better understand which components of its marketing strategy are most effective and where optimisation is possible. This is particularly important in a multichannel marketing environment, where customers may have multiple touchpoints with a brand before making a purchase decision.

There are different types of attribution models, from simple "last-click" models that attribute the entire value of a conversion to the last interaction point, to complex algorithms that use machine learning to calculate the value of different touchpoints based on numerous variables. Some of the most common models are the "first-click" model, the "linear" model, in which each touchpoint is valued equally, and the "time-decay" model, which gives more weight to more recent interactions.

By using a suitable attribution model, a company can measure its marketing ROI (return on investment) more accurately and thus create a more sound basis for decisions on future marketing expenditure. It also helps to better understand customer behaviour, which can lead to more targeted and efficient marketing strategies. At a time when the purchase path is becoming increasingly complex and customers are being reached through a variety of channels, the attribution model provides an indispensable guide to effective marketing.