Thursday, 30 January 2014
Measure Early and Measure Deep - Extend Your Conversion Funnels
It's a couple of month's old but today I came across an interesting infographic from Infectious Media which highlights the importance of "viewability" of an online advertisement.
The headline: 54% of all digital advertising is not seen.
The key message is that optimising the placement of your ads will deliver a better result. Much like focusing on the deliverability of emails will help optimise an email campaign.
In a conversion funnel, you need to address all of the main points.
1. How many people arrive at the entry point (search, navigation, subscriber list)
2. How many people see the message (deliverability, viewability)
3. How many people click on the call to action (click through rate)
Except it's not that simple. Ultimately what matters is if a customer pays.or transacts. Either in this web session or a future one. Either online, on the phone or in store.
A conversion funnel is not complete until the transaction of money in can be traced back to the spend of money to acquire the customer.
This is never easy to do because the customer may have seen many different messages along the way and might be transacting on the 3rd or 4th visit. This is where attribution modelling comes in, a geeky sport in it's own right.
What you can focus on with some simplicity is putting tracking in as early and as deep into the funnel as you can.
Early: viewability is a good example
Deep: Instead of measuring clicks from the ad, measure purchases as well. Or sign ups. Or downloads. If you are taking the user offline to a phone call, measure phone calls. Even better, measure phone calls answered. Even better, measure phone calls answered where the call time is more than a time threshold. If you want to know how to do that, let me know.
Your conversion funnel is more accurate the earlier and deeper you measure.
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