What each model actually answers
First-touch and last-touch are the two single-touch attribution models - each assigns all credit to one interaction and ignores the rest of the journey. They are not competing answers to the same question; they are answers to two different questions.
| First-touch | Last-touch | |
|---|---|---|
| Question answered | What got this person's attention in the first place? | What convinced them to convert, right at the end? |
| Rewards | Awareness, top-of-funnel, content/SEO | Bottom-funnel, retargeting, branded search, direct |
| Common bias | Overcredits acquisition channels for customers who took a long path | Overcredits the channel closest to conversion, even if it just closed an already-decided buyer |
| Best fit | Evaluating top-of-funnel/demand-generation spend | Short sales cycles, single or few-channel journeys |
Why the choice matters more than it looks
Budget decisions follow whichever model is on the dashboard people look at. A team reporting purely on last-touch will systematically defund the awareness channels that created the demand last-touch gets credit for closing - a real, repeatedly observed pattern in accounts that switch models, though the exact magnitude is specific to each business's channel mix (label: general pattern, not a measured universal number).
A practical default
If you can only report one model and your sales cycle involves more than one channel, a multi-touch model (see attribution models) is a better default than either single-touch extreme. Where multi-touch is not yet feasible - identity resolution not solid enough, or too new an implementation - report both first-touch and last-touch side by side rather than picking one and treating it as the whole truth.