Analyze Multi-Channel Funnels Reports
May 29, 2017 |
Everyone knows that a chain is only as strong as its weakest link. That's why understanding a user's path towards conversion is just as important as the conversion itself.
Delving into the path that a user took towards making that conversion helps to isolate what worked well and what didn't work well along the way. It tells you not only what channels are driving your success but what conversion affinities your users have, so that you can bolster your methods and replicate your success going forward.
Due to the significant insights afforded by seeing a user's path towards conversions, we've launched four new multi-channel funnel reports that will help you determine:
- The number and value of closed sales and goal conversions that were initiated, assisted, and completed based on organic search, direct links, referrals, social networks, paid search, and email marketing campaigns (Assisted Conversions report).
- What role site referrals, searches, and ads have had in the conversion process (Top Conversion Path report).
- The amount of time between the user's first visit and purchase or completion of a conversion goal (Time Lag Report).
- How many times a user interacted with channels prior to converting (Path Length Report).
Multi-Channel Funnels Assisted Conversions Report
More often than not a conversion is a multi-layered, multi-stepped process that transcends a single channel. The Multi-Channel Funnels Assisted Conversions Report
affords you insight into the underlying value of the channels that drive your conversions. Significant in the fact that it provides you with a more holistic view of your traffic channels, the report indicates the number of assisted conversions and their value on a per channel basis. With this, a channel's true value can be determined. Meaning, while a channel may falter in its ability to garner last interaction conversions, it may for all intents and purposes be an assisted conversions powerhouse.
Specifically, the Multi-Channel Funnels Assisted Conversions Report
offers insights into the number and value of closed sales and goal conversions each channel initiated, assisted, and completed. Additionally, you are also afforded a calculation of assisted vs. last interaction conversions that serves to summarize the performance of the channel relative to its role in garnering both assisted and last interaction conversions.
To this extent, the report presents conversion data in multiple formats that includes a visual graph that enables you to track a specific segment of your conversion data of your choosing. Accenting the graph is a summary that indicates totals for each conversion metric tracked by the report. Lastly, the Channel Group Table presents a per channel breakdown of assisted conversions, assisted value, last interaction conversions, last interactions conversion value, and the aforementioned calculation of assisted vs. last interaction conversions.
The Multi-Channel Funnels Assisted Conversions Report presents a detailed breakdown of the role of each channel in securing conversions
Conversion Time Lag Report
How long does it take for your users to make a conversion? It's an important question that helps you understand the mindset of those who visit your site. Does your service or product lend itself to quick conversions or do users need to gain a more extensive kind of familiarity before making a commitment? The Conversion Time Lag Report
tells you how many days it took a site visitor to convert. Meaning, you can see if your conversions are happening immediately or if they tend to happen over the course of numerous days, etc.
See how long it typically takes to score a conversion on a per goal basis
Since the report includes a goal filter you can monitor user behavior relative to the type of conversion being made. Meaning, it's possible that getting a site visitor to sign up for a newsletter may happen relatively quickly, whereas getting them to initiate a free trial may not. Seeing a breakdown of the "time lag" on a per goal basis offers you insight into the nature of the goals from a user's perspective. With this you can understand what type of goals you need to gently guide your users towards completing and what sort of goals require a less involved effort.
Top Conversion Paths Report
Knowing the assisted conversion value of each traffic channel is of obvious importance. However, there is a way to go one step further in understanding how your conversions come about, and that is the actual conversion path site visitors take. The Top Conversion Paths Report
does exactly that. The report helps you analyze the sequence of interactions that led a user to a conversion, and determine the role that site referrals, searches, and ads have had in the conversion process. That is, the report offers you detailed information that helps shed light on how site visitors behaved along the path to conversion.
Do your site visitors tend to directly revisit your site numerous times after seeing an ad, if so what does that tell you about your customers and their decision process? Does it take more visits to your site to convert when an ad is the initial engaging channel? Understanding such patterns can help you engage in more efficient and effective practices.
Determine what path towards conversions are most common and effective
Like the Multi-Channel Funnels Assisted Conversions Report,
here you are also presented with a trends chart, which in this instance can be set to show either conversions or conversion value. The accompanying Channel Grouping Path Chart outlines the actual conversion paths undertaken by site visitors, with each path being shown against the number of assisted conversions and assisted value associated with it. Conversion paths can include organic search, paid search, email newsletters, social networks, referral sites, affiliate links, and custom campaigns created in the site's Google Analytics account.
Path Length Report
Similar to the Top Conversions Path Report,
the Path Length Report
offers insight into the road site visitors followed on their way to making a conversion. As opposed to the Top Conversions Path Report,
here you are afforded a broader, if not bird's-eye view of the conversion path site visitors undertook, specifically how many channel interactions were needed for a conversion to take place. By learning how many times a user interacted with channels prior to converting, you are afforded insight into just how much interaction is needed for users to be comfortable with the idea of committing to a conversion.
As the report features a goal filter, you can isolate consumer behavior relative to the various goals you have established. With this information you could begin the process of analyzing what about each form of goal either makes the conversion process more concise or prolonged in nature.
The Path Length Report indicating the number of channel interactions users undertook during the conversion process
The Path Towards Conversion Redemption
When it comes to conversions, there is no need to preach to the choir, the more detailed data you can get, the better. Understanding both the path users take towards conversion, along with the real value of your traffic channels, can not only help you make better business decisions, but can prevent you from making bad ones. The kind of decisions that result from not having enough information. It's like the old saying, 'don't judge a book by its cover'. Well don't judge a channel solely by its last interaction value. The same applies to users themselves. Assessing their conversions by understanding the distinct behavior behind such conversions is the only way to better improve the goal completion process and tactics you undertake. Don't just scratch the surface, use Multi-Channel Funnels to claw into what's really behind your conversions.