Here at Lever Interactive, we got our first peek into the new Multi-Channel Funnel report in Google Analytics this week. As an agency that has long been using Google Analytics and modification to the code to report extensively on first and last clicks, we were anxiously awaiting this new feature to compare it with our first/last click reporting. And, not surprising, our analysis has been in-line with the information the new report is providing.
As many of you know, Google Analytics attributes any type of conversion (goal or ecommerce) to the last click. With today’s savvy online customer, knowing what channel they used to first visit your site, regardless of conversion is just as important as knowing the last. With the new multi-channel funnel we get a glimpse at the bigger picture.
How to Access Multi-Channel Funnels
You need to view the new Google Analytics v5 which recently became available to everyone. Under the “My Conversions” header, you will see a new navigation item “Multi-Channel Funnels.” If you are lucky enough to be included in the pilot you will see data. If you are not, hang in there, your time is coming, hopefully soon.
Finally, here is your moment to see what you have been missing:
Overall, in a 30 day timeframe, 35% of conversions have occurred with the customer visiting the site through one channel and converting through another. Need a better visualization? Build a Venn diagram like below by checking off channels to the left to see the overlap:
Two great reports are housed in the Assisted Conversion section. Here you can look at “Assist Interaction Analysis” as well as “First Interaction Analysis.” This will provide you an idea of what channels bring more conversions as a first click vs last click. One reason we use first/last click analysis is for clients running affiliate programs. Time and time again, we see that one channel brings potential customers in, get them through the shopping funnel, but they leave to find a coupon, click on an affiliate link, and finish their purchase–giving the affiliate the credit for the sale. As you can see below, in a 30 day time-span, affiliate drove in on 27 conversions and $885.04 in revenue on first click compared to 152 conversions and $5,586.23 in revenue in last click. Affiliate has the lowest “First/Last Interaction Conversions” rate at 0.18. The closer to “0,” the more this channel was a factor in the last interaction, whereas as if it exceeds 1, the more it is a first interaction channel. Most likely this client is paying for this customer twice, once through another channel like paid search, and again through the affiliate program. In order to balance this, we offer the affiliates a lower percentage when the order comes through as a last click conversion, with a first click attributed to another source.
Since Lever Interactive has been conducting first/last click analysis, there were not any surprises in the report–which further confirmed our reporting process. We know that paid search is a high driver, much more than the last click credit gives the channel. And direct tends to be more a player in the last click. Shopping comparison engines (CSE) was almost an exact split–again a very expected number as some customers start with an overall search for a product through organic or paid, then hit the shopping comparison portals for price shopping vs some customers that start with the portals.
Top Conversions Paths
Another great report is the Top Conversion Paths. Here you can see the most popular combinations of channels used that lead to a conversion. In the view below we use the “Basic Channel Grouping Path” vs the medium used above, although medium is also available in this report. The view below is based on two or more sources. Again, no surprises here for us. In our first/last click analysis we were seeing similar trends with two or more mediums involved. Paid search and direct are the top players in multi-channel funnels. Some is obviously attributed to repeat buyers, others are most likely shopping for good deals.
Customize Your Channel Grouping
While the reports come with a “Basic Channel Grouping” you can create your own–very much like advanced segments. Google even allows you to copy the basic grouping so you can simply add your own customize group.
For more information on the other Multi-Channel Funnels reports, check out the official help page from Google and the videos below: