Understanding your customers purchasing behaviour is one of the most important insights that you can have. Getting a better insight will allow you to optimize your marketing funnel so you are getting more bang for your marketing budget. Smart marketers know that to market effectively you need a good marketing mix to target the right audience. Running display ads may cost more and have lower direct conversion but that doesn’t mean that they aren’t effective. With Google Analytics multi-channel funnel you can see the full picture and see if email or display ads are assisting in the final conversion. You can also see the time lag between the customers first interaction with one of your campaigns and when they eventually purchased. Google have announce a new benchmark tool which will allow you to see the customer journey for different business sectors. I’ve run the report for the UK retail sector and it shows some interesting dashboard results below. AIDA is a framework that you could use to map out your marketing and advertising activities against each step of the customers journey. Attention, Interest, Decision and Action.
From the stats below, 54% of revenue comes from purchases made outside of one day. This shows that consumers in the UK make a considered purchase where they research what they’re buying before making purchasing immediately.
To learn more about attribution models and google multi-channel funnels have a look at the video below