As we all know that in today’s scenario advertising is a tricky business in the online domain precisely because you can never determine where the traffic is coming from in an exact manner and in how much ways.
You can never pinpoint a particular ad which is much more prompted someone to buy a particular product as the person may well buy after a definitive period of time and hence, tracing that purchase back to a specific advertisement may seem sometimes to be impossible.
Moreover, with Google analytics, it is no longer the most difficult job there is precise because of the new methods of evaluation of some of the advanced ad channels.
Hence, if you have advertised on the multiple sites and platform, then it is highly likely that the contribution of each site in the final purchase can be easily measured and valued to ensure that you know if the advertisement at a site is bringing out you a huge profit or not.
While the overview seems simple, the undercurrents are about with some of the complex transactions and reports.
More: Social Finance launches $2 billion India funds
1- Understanding the various reports
There are multiple reports which are as of now involved in stating the contribution of the various channels of advertising. Multiple sessions are tracked to understand how shoppers communicate with these different channels over these sessions and how the interaction varies from person to person.
The three most important channels are social media, display advertising and Google ads for shopping. There are a few other metrics to consider which includes such as assisted conversions.
It contains the detailed report of direct conversions where the last click happened from the ad as well as with the assisted conversions where particular ads assisted in this final click.
So, once you evaluate all the direct conversions, then at that time you will get a clear idea of whether a channel is contributing to closing sale or some channels are better at assisting. Now, some of the other essential aspects would be the kind of channels having the most powerful impact.
More: Massive petition drive launched to force an end to social media “shadow banning” and other forms of censorship
2- Gauging the contribution of particular channels
Display and social network channels always tend to have a higher percentage in the contribution. However, if Google shopping is paired with the keyword campaign, then at that point in time you may discover that it tends to have a higher rate of success.
You can also group channels according to their sources as well as mediums to discover some of the more unusual trends. E-commerce sites, however, need to tweak some of the more advanced settings to understand the performance of multi-channel marketing campaigns in a much more comprehensive manner.
For instance, a user can simply select the proper type of conversion as e-commerce to evaluate this scenario. So, you also need to forget about the goals so that your transactions can be understood in terms of commerce as well as its revenue and profit. Now, evaluate the report of the transactions over the last one month and see how e-commerce websites have become a fared for you.
Similar methods can be adapted for diverse kinds of channels and platforms. The diversity of the channels is where the complexity begins, but it only shows how marketing is no longer one-dimensional or monolithic but needs to be much more dispersed and expanding.
More: Google Fired 48 Employees in Alleged Sexual Harassment Case
3- Evaluating the traffic reports
Understanding how, one of the largest social media platforms Facebook ads help in achieving marketing success, you need to evaluate the metric conversion segments. If the last click happened from Facebook or some other social media, then at that point of time you need to select the particular source with the help of which it happens to see the higher rate of conversion.
Google analytics thus provides an intensive understanding of the assisting sales, which is also an unprecedented statistical insight. If the channel seems unproductive and the Return On Investment figure is not worth pursuing, then you can easily chuck the channel out of your business plan.
Moreover, the assist figure can reveal some of the startling facts. Often, certain sites which may seem unproductive because of the lack of last clicks may also have high assisting figures. Thus, providing the accurate value be not going to be much as obvious as it seems for a channel, and Google analytics is showing the real figures beyond the fog.
More: Conversation Marketing Hacks: 8 Ways to ‘Speak Human’ and Change the Game