Model comparison

Model comparison

The same 508 qualified leads, credited two ways. Clicks alone miss the awareness that offline, AI search and word of mouth create; the self-reported answer puts it back.

Last non-direct click
Gives all credit to the last tracked click that wasn't direct traffic. It's the default in most ad platforms and rewards channels that close: brand search, retargeting, email.
First click + self-reported
Credits the first tracked click. If that click was brand search or direct, it is replaced by the channel from the lead's own answer to “How did you hear about us?” on the Attio form, classified by an LLM.

Qualified leads by channel

Bars show each model's credit; the chip shows the change.

Last non-direct First click + SRA
Google Ads
210
89
−121
Organic Search
104
43
−61
AI Search
14
103
+89 · 7×
LinkedIn Ads
75
78
+3
Referral & WOM
2
66
+64 · 33×
Email
60
17
−43
Direct
14
39
+25 · 3×
Organic Social
22
36
+14
Offline Marketing
1
25
+24 · 25×
Reddit Ads
0
7
+7
Meta Ads
6
5
−1
Where the credit moved
390 of 508 qualified leads (76.8%) change channel between the models
Google AdsAI Search38
Google AdsLinkedIn Ads33
Google AdsReferral & WOM26
Organic SearchAI Search25
Google AdsOrganic Search17
Organic SearchLinkedIn Ads16
LinkedIn AdsReferral & WOM15
Organic SearchReferral & WOM15
Organic SearchGoogle Ads13

Cost / QL under each model

Paid channels only. A channel can look expensive on clicks and efficient once self-reported demand is counted.

ChannelSpendQLs · last non-directQLs · first click + SRACost / QL · last non-directCost / QL · first click + SRAVerdict
LinkedIn Ads
£136,5967578£1,821£1,751Consistent
Google Ads
£89,34921089£425£1,004Overvalued by clicks
Offline Marketing
£59,819125£59,819£2,393Undervalued by clicks
Meta Ads
£23,24665£3,874£4,649Overvalued by clicks
Reddit Ads
£13,95207—£1,993Undervalued by clicks
“How did you hear about us?”
Free-text field on Wave's Attio-connected forms, for leads created in this period

Response rate

88.1%

1,087 of 1,234 leads

Re-attributed

269

brand or direct first clicks replaced

Classified to a channel545
Ambiguous (“Google”, “online”), ignored363
Don't remember179

Re-attribution rules

  • • Brand search and direct first clicks are always overridden.
  • • Paid non-brand clicks are protected: a verified click beats a survey answer.
  • • Search-engine answers are ignored; clicks already separate brand from non-brand.
  • • A synthetic touchpoint is placed one second before the first visit.
Recent answers and their classification
The LLM maps free text to Wave's channel taxonomy, down to the event or placement when the answer names it

“Google Gemini”

Kwame Taylor · Meridiangrid Games · 6 Oct · first click: (direct) / (none)

Gemini

“CTO Craft Con talk”

Elena Patel · Quantaworks Capital · 6 Oct · first click: (direct) / (none)

Event · CTO Craft Con

“Saw you on Facebook”

Noah Okafor · Helixloop Studio · 6 Oct · first click: Prospecting · Founders lookalike

Meta Ads

“Word of mouth”

Daniel de Vries · Lumenic Energy · 6 Oct · first click: Brand · Wave Group

Referral & WOM

“Perplexity search”

Omar Walker · Kinetfield Pay · 6 Oct · first click: Organic · Branded queries

Perplexity

“Billboard on Silicon Roundabout”

Noah Novak · Rivetmark Robotics · 6 Oct · first click: Organic · Branded queries

Billboards · Shoreditch & Silicon Roundabout

“Used you at my last company”

Lucas Fischer · Sablenest Capital · 6 Oct · first click: Brand · Wave Group

Referral & WOM

“billboard near Liverpool St”

Omar Green · Rivetra Security · 6 Oct · first click: Organic · Branded queries

Billboards · Shoreditch & Silicon Roundabout

“CTO Craft Con talk”

James Clarke · Solacepoint Analytics · 6 Oct · first click: (direct) / (none)

Event · CTO Craft Con

“Used you at my last company”

Sakura Moreau · Tesselline Pay · 5 Oct · first click: (direct) / (none)

Referral & WOM

“Saw a billboard on Old Street”

Nina Murphy · Corvidbridge Analytics · 5 Oct · first click: Brand · Wave Group

Billboards · Shoreditch & Silicon Roundabout

“Met Tom at CTO Craft Con”

Arthur Schmidt · Graniteline Logistics · 5 Oct · first click: Brand · Wave Group

Event · CTO Craft Con

“Followed you on X”

Mia Khan · Nimbusnest Systems · 5 Oct · first click: X · Company posts

LinkedIn · Founder & company posts

“GPT suggested Wave for staff augmentation”

Sophia Clarke · Tandempoint Systems · 5 Oct · first click: Brand · Wave Group

ChatGPT

“LinkedIn”

Felix O'Connor · Halcyonly Labs · 5 Oct · first click: Thought Leadership · AI transformation

LinkedIn Ads

“My former CTO used Wave”

Harry Williams · Sablestack Cloud · 5 Oct · first click: Google reviews (1,000+ ★5.0)

Referral & WOM

“Found you via Perplexity”

Lucas Green · Sablemark Labs · 5 Oct · first click: (direct) / (none)

Perplexity

“Instagram ad”

Marco Chen · Parallaxmark Capital · 5 Oct · first click: (direct) / (none)

Meta Ads

“Used you at my last company”

Amelia O'Connor · Beaconic Robotics · 5 Oct · first click: (direct) / (none)

Referral & WOM

“Asked ChatGPT for the best tech recruiters in London”

Chloe Moreau · Cobaltloop Games · 5 Oct · first click: Organic · Branded queries

ChatGPT

“Recommendation from our investor”

Lena Kowalski · Pulseic Analytics · 5 Oct · first click: (direct) / (none)

Referral & WOM

“claude ai”

James Brown · Atlasic Energy · 5 Oct · first click: (direct) / (none)

Claude

“Sponsored post on LinkedIn”

Ruth Wilson · Atlasstack Logistics · 5 Oct · first click: Lead Gen Form · Elite shortlist in 48h

LinkedIn Ads

“Our VC introduced us”

Freya Clarke · Sableloop Games · 5 Oct · first click: (direct) / (none)

Referral & WOM