If someone comes to your site and converts, who gets the credit?
When our online Analysis tools were more primitive, that credit would be given to whatever got them there on the day. Often it was the last click or maybe direct if the they typed in the url.
But that assumes the customer journey to buying from you is a direct path. Marketing on the web is not an elevator pitch with a captive audience who must make a decision before they walk away. And yet many still view their web stats in this way. In this simplistic model a Visit gets viewed as failing if the conversion does not convert on that day, especially if it came from an paid click.
The path to conversion is not always direct. There are many ways that people interact with a website that lead ultimately (hopefully) into the “when” of the conversion.
- They are researching
- Ran out of time, will come back later.
- Need to check out a few competitors or other brands to make the decision.
- Started on a mobile, prefers the larger screen to read do the final purchase.
- Have to discuss with Partner / Check Bank Balance / Wait for next Payday
- Just not ready to buy today, but will next month.
But once they have come to your site, they are somewhere on the path to purchasing.
What was it worth for you to have this chance to show them what you do?
If their desires and your offerings align. You maybe one step closer to a sale than you were before.
How do you put a value on it even if it didn’t end in a sale today?
The attribution of value in each interaction leading up to a sale is complicated. Thankfully Google Analytics gives us tools to test and explore different attributions models. There maybe more value in your online marketing Campaigns than you have been giving it credit for.
I will leave it to Analytics Ninja Avinash Kaushik to explain this in more depth and how it can improve your bottom line. The Good, The Bad & The Ugly of Attribution Models.