With the release of the Google Analytics Attribution Modeling tool to all users, I am sure many marketers are excited but don’t know where to start.
To start, you need to crawl before you walk. Start with what you know by using your current reporting as your framework. Google Analytics’ Multi-Channel Funnels reports are the gateway to Attribution Modeling. Let’s review a few of the reports.
Use the Overview report to see how your channels interact (see Venn diagram, below). If there are large overlaps between your channels, this shows that multiple touch points happened before the conversion and is a sign you should look into attribution. Remember which ones overlap so you can pay close attention to those in attribution.
Next, view the Time Lag and Path Length reports to see how often visitors came to your site and how many interactions visitors had with your site before they converted. If a high percentage of your conversions are greater than 0 or 1 visit or interaction, then you should consider looking at the attribution tool.
Review the Assisted Conversions report to see how each channel initiated, assisted and completed as well as the value of those sales and conversions. Look at the Assisted/Last Click Conversion value (last column below) to determine if the channel value is:
- Close to 0, primarily functioning as the final interaction
- 1, primarily functioning equally in assist and final interaction
- Exceeds 1, primarily assisting conversions
Use the Top Conversion Path report to see all of your unique conversion paths that lead to conversions. This can also help confirm what you will eventually see in the attribution modeling tool.
- Create custom channels that are based on your channel structures
- For example, you could create a custom channel grouping by breaking out branded and non-branded PPC and organic terms.
The use of multichannel funnels and attribution modeling allows for marketers to gain control of their ROI and make smarter decisions when allocating marketing dollars. You also see the big picture as you view your marketing campaigns as unified. This will give you more insight and the ability to change campaigns based on consumer behavior. You will do a better job providing clients with information when they want it along the customer journey.
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