Sophie Logan - Are you accurately reporting on the value of your ppc activities sophie logan
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Sophie Logan - Are you accurately reporting on the value of your ppc activities sophie logan
- 1. Are you accurately reporting on the value of your PPC activities? Sophie Logan
- 2. Sophie Logan ● Paid Media Team Leader ● MA Advertising, Marketing and the Media and BSc Management and Marketing ● Joined Hallam in July 2017 2 @marketingsoph
- 3. Dexter - The PPC Pug
- 4. Agenda ● The modern customer journey ● PPC and ROI ● Assisted conversions ● Attribution models ● Summary
- 5. Customer journeys are becoming more complex, involving multiple touch points and longer paths to conversions. . . 5
- 6. The modern customer journey ● There is a major reshaping of the traditional marketing funnel ● Conversion paths are no longer linear ● Paths now typically consist of multiple devices
- 8. Challenge ● Conversions are no longer coming directly from a single source ● It is taking longer for users to convert, meaning that ROI is delayed ● Stakeholders can struggle to see the value of digital marketing, due to lack of knowledge and a preference towards more traditional marketing activities
- 9. 9 As conversion paths become less direct, it becomes harder to prove return on investment
- 11. Source/Medium Path: Acquisition - All traffic - Source Medium
- 12. Assisted conversions are the number of conversions a particular channel attributed to. 1 2
- 13. Assisted conversions Path: Conversions - Multi-Channel Funnels - Assisted Conversions
- 14. 1 4 9 Assisted Conversions & 100 Direct Conversions 8.61% increase in conversions from direct conversions alone
- 15. Top conversion paths Path: Conversions - Multi-Channel Funnels - Top Conversion Paths
- 16. 1 6 Now what?
- 18. Attribution models are rules, or sets of rules, that determine how much conversion credit is assigned to different touchpoints in the conversion path. 1 8
- 19. Attribution models ● Last Interaction – 100% credit to the last touchpoint ● Last Non-Direct Click - Direct traffic is ignored with 100% credit going to the last touchpoint before conversion ● First Interaction – 100% credit to the first touchpoint ● Linear – Each touchpoint receives equal credit ● Time Decay – The touchpoint closest in time to the conversion gets the most credit ● Position Based – 40% is credited to the first and last interactions, with 20% evenly distributed to touchpoints in the middle.
- 20. Attribution model comparison tool – Google Analytics ● Compares how different attribution models impact the valuation of marketing channels ● Assessible via Google Analytics ● Requires conversion tracking ● Can compare up to 3 conversion models at a time
- 21. Attribution model comparison tool Linear model: 1,443.61 conversions Vs Position Based model: 1,473.23 conversions
- 22. Attribution model comparison tool Path: Conversions - Attribution - Model Comparison Tool Linear model: 812.26 conversions Vs Last Google Ads Click model: 1,071 conversions
- 23. 2 3 ‘Linear’ to ‘Last Google Ads Click’, would have been seen 31.85% more conversions during a 30 day period
- 24. Attribution model implementation Path: Tools & Settings – Measurement - Conversions
- 25. Putting the attribution model to use Path: Tools & Settings – Measurement – Conversions – Select Conversion
- 26. Important to remember ● Changing attribution models will effect the results of other source/mediums performance ● Does not consider offline touchpoints or external influences ● Does not factor in cross device usage ● Your conversion tracking must be accurate!
- 27. Summary
- 28. Summary ● Path to conversions are becoming less and less linear, resulting in multiple touchpoints during a single conversion path and longer path to conversions ● Marketers are being impacted by this overhaul of the traditional marketing funnel as it makes attributing conversion credit to touchpoints challenging ● Assisted conversions recognise when a touchpoint, in this case PPC, has played a part in driving a conversion ● Attribution models define how conversion credit is awarded to a touchpoint ● The attribution model comparison tool can ensure you are using the model which most effectively demonstrates the impact of PPC on conversion performance ● Attribution models can easily be changed in the Google Ads platform
Editor's Notes
- I started Hallam as a Digital Marketing Executive, before specialising in Paid Media in my role of consultant.
- This is Dexter, aka PPC Pug! If you want to find out more about him then head over to our website where he has his own section on ‘meet the team’.
- It goes without saying that the way we convert is changing. Royalty free image - https://www.pexels.com/photo/accounting-apps-bookkeeper-business-273691/
- When we decide to purchase a product or sign up for a service, we are spending so much more time gathering information. From comparison sites, to YouTube video reviews and Facebook feedback, to in-store/offline visits and discount code searches, we are no longer going straight from awareness to consideration to conversion. This is causing an overhaul of the traditional marketing funnel, and it's preference towards a linear conversion path.
- This is an example from Google of key moment during a purchase journey. Susan is looking for a dress to wear for a wedding, which consists of over 400 touchpoints in 135 days before she converts. Does any of this remind you of your latest online purchase?
- So what kinds of challenges does this for businesses?
- Why this a particularly problem in PPC is that as conversions via paid ads become less and less direct, it makes it more difficult to attribute a conversion and therefore value to the investment. As marketers, I’m sure we’ve all spent countless hours justifying the work that we do and the investments that we make. Very few companies have the financial flexibility to be spending money on PPC activities without seeing a positive financial return. When it comes to PPC, the attitude is very much "Money in, money out quickly and easily". However, we need to recognise that this is no longer the case. Royalty free image - https://www.pexels.com/photo/when-will-you-return-signage-1749057/
- So how can we explore the true value of our PPC investments? Well this is where assisted conversions come in.
- This is a typical screen we see when we evaluate the sources of our web traffic and conversions, which breaks results down into platforms and mediums. I can see here that my Google PPC activities have generated a total of 100 conversions. Whilst this is a healthy volume of conversions generated from the campaigns, assisted conversions can add to this return of investment.
- Assisted conversions consider the whole path to conversions and not just the lack click. This includes the first channel a converter came across, to the various touchpoints during their decision making period. These valuable moments are recognised via assisted conversions, and can be measured easily via the 'Assisted Conversions' tab in Google Analytics.
- So whilst the Source/medium report recorded 100 conversions, there were actually an additional 9 conversions which PPC played a part in.
- An almost 10% increase in conversions associated to my PPC activities would better facilitate me in promoting the value of PPC and it's ability to drive conversions. Royalty free image - https://www.pexels.com/photo/assorted-colors-paper-cutouts-closeup-photo-796607/
- What’s more, we can can actually visualise this using the ‘top conversions paths' in the conversions tab. These paths highlighted in yellow show PPC as not being the last click channel, but the one which originally generated the interest and awareness. This again helps to demonstrate the role which PPC has played in conversion paths, and just how many touchpoints converters are engaging with before converting. If you consider a high value purchase such as a car, you could be looking at huge conversion paths with a long time lag between initial awareness and final conversion.
- I’d highly recommend reviewing your own assisted conversions. This may be something which you choose to add into your reporting on performance, or just keep in mind for your own reference. However, some of you may be thinking, that’s great Sophie, but how can I actually use this super cool metric to better value my PPC activities without having to delve into Google Analytics?
- Well that is where attribution models come into play.
- By default, Google uses the ‘last click’ attribution model, which only credits the last touchpoint as generating the conversion, hence why we see such discrepancies when it comes to assisted conversions. However, by utilising other attribution models we can give credit to other touchpoints during the path.
- Here is a very brief breakdown of the models and how they credit various touchpoints. Hopefully the names of the models will give you an indication of what they mean, but please do read into these models further to familiarise yourself with how they credit touchpoints.
- This fabulous little tool allows you to take the guess work out of attribution or the need to experiment and test the impact of different models, as it uses previous conversion data to measure the impact of the different attribution models. So let’s see the tool in action!
- Using the model comparison tool showed the variety in conversion figures associated to each of the models, allowing me to find the one which most effectively recognise PPC driving conversions.
- Before we finish, I would like to bring to your attention things which need to be considered when working with assisted conversions and attribution models. Royalty free image - https://www.pexels.com/photo/blank-business-composition-computer-373076/
- Once you have identified the most effective tool for you, it is easy to put it to use by amending your conversion attribution model setting in Google Ads. Accessing your conversion actions via the measurements tab, allows you to see all of your enabled conversions and the attribution model they are currently using. If that coloumn is not showing on your own dashboard, then you will need to amend your columns.
- If the model needs changing, then simply click on the conversion action, go down to attribution model, select your chosen model, save and click done! I would also recommend adding a note to the date in your account, noting your attribution model amendment for future reference.
- If you are removing conversion credit from one to another, there will be impact on conversion figures attributed to mediums including direct, organic and social. Businesses with an offline presence such as direct mail or a physical store, need to remember that these influences are not being taken into consideration. Similarly external influences such as price and promotion are not included. With 46% of internet users using multiple devices within any given month, it is important to consider converters behaviours on other devices. (Stat - https://www.metageni.com/cross-device-attribution/) Most importantly, and this goes without saying for ANY of your PPC activities, if your conversion tracking is not accurate then you are at risk of using unreliable data to make attribution decisions. So before we finish and head off for ice cream, let's take a last minute to summarise what we have gone through.