Attribution analysis is the key to understanding the effectiveness of branding and sales activities. At the same time, it is a subject that is still not well-known and, in many companies, pushed into the background. NowyMarketing comes to the rescue and in its article clearly presents ways to analyze online advertising campaigns. They also explain basic concepts such as:
- CTR (click through rate) - a parameter indicating the ratio between the number of clicks and displays of an advertisement,
- Conversion rate - indicator showing the percentage of people who performed a specific action (e.g. subscribed to a newsletter, filled in a contact form or made a transaction),
- Customer journey - the path that a customer goes through from the moment of learning about an offer available on the market until making a purchase.
From the article Attribution analysis, or how to measure, you will also learn about the predefined attribution models that Google Analytics enables, namely:
- last interaction - a model assigning a conversion value to the last point of contact between the customer and eCommerce,
- last non-direct click - a model analogous to last click, with the difference that the conversion value results from the last, non-direct known source,
- time decoy - the more recent the visit, the greater the contribution to the source,
- first interaction - assigning sales or conversions in their entirety to touchpoints at the beginning of the path,
- position based - a model that assigns a 40% share to the first and last ad interaction and associated keywords, and the remaining 20% share equally to other ad interactions along the path,
- linear - each touchpoint along the conversion path, so paid search, social networks, email, and direct channels, will receive the same share of the sales result.
A lot of information? Approach the topic carefully and calmly, because with effective attribution analysis you will learn who is buying from your eCommerce and why, as well as how costly this process is for your business. Remember, knowledge is power!
Let's stay on the topic of data interpretation. We believe that it is best to learn not from one's own mistakes but from the mistakes of others, therefore we recommend the article The most common mistakes in implementing web analytics on e-commerce websites published on Marketing przy Kawie. Incorrectly implemented eCommerce source code tool script? Lack of measurement and verification of assumed KPIs? Lack of proper filtering? Inoperative eCommerce module in Google Analytics? If any of these problems concerns your business - find out how to fix it!
Finally, a summary of the B2B report McKinsey & Co. Do you know that 83% of business executives consider digital-based omnichannel sales to be more effective compared to direct sales? Poland's largest strategic advisory firm also reports that the majority of respondents plan to maintain or increase operational spending, including digital sales, within 5 years. What's more - 85% of executives surveyed expect digital-based omnichannel B2B sales to be the primary sales channel in the near future.
