So, it looks like Google have done it again with their very clever free web analytics product with Multi Channel Funnels.
Long has the argument over the channel attribution raged between marketers, agencies and analysts. Who should be paid for a visitor’s on site activity, the original driver, the last driver, what about the intermediates? Well Google have now given a shot in the arm to this question, multi channel funnels break down your goals to show what sources have driven your converting visitors (throughout a 30 day life cycle).
For example the below table and chart shows goal conversions for one of our clients where more than one source has been attributed to a goal achieving visitor, along with the overlap between them.
This provides far more insight into the media mix used for your site than any traditional views provided. For instance, until now you may have been ploughing in time and money to a social media strategy, only to find that none of your goals have been attributed to social. Using this new tool you can see the relationship that social (or any other source) has with the others, and hopefully that this has had an involvement in the goals for your site!! (or they will confirm that you haven’t had any measurable benefit in clicks……)
This is another example of Google delivering more value from a product that already exists, costs nothing to have, and looks fantastic. There was no complicated setup or creation of reports required, the default provision instantly gives greater understanding, and with a little tweaking users will be able to get even more from this new data. This is entirely different to our experience of paid for solutions which, whilst their upgrades are touted as free will always have a time and setup cost. That only covers the inclusion in your existing system; you then have setup reporting so that something useful can be gained from the investment. Surely the established paid for players need to follow Google’s example and start making their interfaces better, and their updates cleverer?
As always, if you’d like to talk to us about this or anything else drop us a message on our contact page.