One of the most important questions for Ecommerce companies to answer is "which marketing vehicles are worth the investment?". However, different channel attribution methodologies can greatly impact common marketing metrics like CPO and ROAS making it difficult to get to accurate answers. For many businesses, 'last-click' attribution is the easiest attribution methodology to judge the performance and efficacy of a particular marketing effort.
It is widely known that last-click or last-touch has drawbacks. For example, awareness driving activities tend to get no credit when using this attribution method. Furthermore, Google Analytics does have limitations in how it can measure and report last-click channels.
Daasity has developed a more enhanced attribution methodology which takes influencer codes and discount codes into account so you can attribute revenue to activities like Podcasts and Paid Influencers.
That is what this dashboard is all about, helping you understand the drivers of your revenue through a more complete attribution methodology.
This dashboard has two filters relating to Date options to display output.
The first filter (A) is a traditional Date Filter that determines the date range that the data shown is for. Simply change the date range and click Run to refresh the results.
The second filter (B) is a Date Type filter. This allows you to easily update certain visualizations to be by Day, Week or Month.
Attribution Dashboard, Explained
The top section has an overall company performance (A) as well as a breakdown by channel (B) for key metrics like Marketing Spend, Gross Sales, CPO, CPA and ROAS.
Where Does This Data Come From?
Marketing Spend data comes from two places:
- A marketing Integration that automatically pulls spend each night for the prior day
- The Marketing Spend tab of your Brand Supplied Data.
First Click Orders, Sales, ROAS, CPO, CPA
Orders and Sales come from the Modified First or Last Click Channel, based on your custom Channel Mapping.
ROAS & CPO uses the Marketing Spend associated with those Orders and Gross Sales to calculate the metrics
CPA is calculated the same way that CPO is, except it is only use Orders from customers identified as New to your customer file.
First to Last Click Orders
The next section is essentially one tile, but it's incredibly important information that may have you thinking twice about your budget allocations.
The First Click to Last Click Channel Flow chart shows the first channel that drove a customer to your site on the left and the channel that they converted in on the right.
In the image above, it shows that Paid Search and Organic Search both actually drive a portion of Direct-to-Site orders when the users convert. This could help justify investing in content production for Organic rankings or increasing your budget for Paid Search, knowing that those channels are serving as introducers for a portion of customers.
The final section of the Attribution Dashboard is a series of charts broken down by the Daasity Attribution Channel. Each of these tiles tells a story about how channels are contributing to your business.
Down the left side you will see results by day on key metrics: Orders, Revenue and Gross Margin, all broken down by channel. This shows you how business trends (are weekends bigger than weekdays? Are Mondays your biggest day? Or maybe its Friday?) You may adjust the date range in the Dashboard Filter to see longer or shorter date ranges.
Down the right side you will find visualizations for other key metrics such as New Customer Rate, Average Order Value (AOV) and Average Gross Margin, all segmented by channels, displaying the top 7.
This information is useful as you look to certain channels to help achieve certain goals. For example, if acquiring new customers is a strategic imperative, then leaning into channels with the highest new customer rates (within a certain cost range) would be important.
Sometimes your highest AOV channel may not be your highest Gross Margin channel, so pending your goal (topline or bottom line), you may shift activities accordingly.