As part of the beta phase of the new and improved Google Analytics, there has been a release of some very tasty and sexy new features that I am excited to tell you about. The latest update released mid-April has unveiled 5 new reports in the brand spanking new muliti-channel funnels section which includes:
2. Assisted conversions;
3. Top conversion parths;
4. Path length;
5. Time lag reports.
Would answers to these questions be helpful to your business?
What paths do users follow that lead to conversions? How many days does it take for a conversion? What are the most popular conversion paths? What sources are generating the most amount of conversions? What keywords are generating the most conversions?
If you answered Yes then read on!
Totally Rad! How does this help me and my business?
Via ‘Channel Groupings’ you get to define the specific attributes of a channel and group them together. From here, the tagged channels will then be displayed in the conversion paths so you can see how they interact with each other. This gives you the ability to answer question such as; What channels initiate conversions? Which channels play a role in closing conversions? What channels assist the conversions?
Answering these questions will help you understand where your investment in online marketing is going and where opportunities might lie untapped, to get more from these channels.
Google introduce us to some new metrics to help us on this new journey. Here is a bit of a summary:
- First Interaction – the channel that initiates a a conversion
- Last Interaction – the channel that assists in closing a conversion
- Assisted Interaction -the channel that supports and bridges the first and last interaction
- First Interaction Conversions – the amount of conversions the channel initiated
- Assisted Conversions – the amount of conversions the channel assisted
- Last Interaction Conversions – the amount of conversions the channel closed
- First Interaction Conversion Value – the dollar amount the channel contributed as an initiating channel
- Assisted Conversion Value – the dollar amount the channel contributed as an assist
- Last Interaction Conversion Value – the dollar amount the channel contributed as a closing channel
- Assisted/Last Interaction Conversions – summarises the channels overall role in conversions
- First / Last Interaction Conversions – summarises the channels overall contribution to initiating and closing conversions
This is quite an exciting development and evolution in web analytics which I look forward to utilising. For more information direct from Google on this update check out the following video.
The new version of Google Analytics is currently available in beta to a small number of Google Analytics users. Google will slowly be giving access to more users over the coming period. If you are interested in checking it out before the global release then sign up for early access here.