Marketers use many different channels to advertise their products, but analysing the effectiveness of each channel is a near impossible challenge due to the variety of mediums used. Tracking the journey of a user who walked past a billboard in the street, who then saw a social advert on their phone, did a bit more research on their tablet, before purchasing on their laptop at home is impossible. Knowing how much money to invest in each available channel becomes a challenge, because if one channel is underperforming it could have a massive impact on others.
A new tool from the Google Analytics team has been created to help companies know how important each channel is in their industry. Google has taken data from 36,000 analytics accounts, which have millions of purchases across 11 industries in 7 countries, and calculated aggregate statistics to develop a benchmarking tool - The Customer Journey to Online Purchase.
The tool helps advertisers see which channels help assist with a user interaction, and which act as a last interaction (creating the sale). As you would expect, industry sector and location have a big effect on how the customers ‘path to purchase’ is influenced by different advertising channels. The tool also analyses the average order value depending on the length (days) of the customer journey.
More information can be found on the Google Anlytics blog or try The Customer Journey to Online Purchase tool.