Multi Channel Funnels help you identify which channels are contributing to your sales and conversions, confusing? Not really, by default Google Analytics shows you the last click conversion for any sales or conversion but you cannot identify which channels were a part of the conversion cycle, which channel initiated? which brought the user back?, to answer such questions analytics brings in Multi channel funnels.
Lets consider an example here,
Above is a series of interactions that happened before a conversion took place. As you can see, the user came in from an Email for the first time which is marked as “First Interaction”, then he saw an ad and clicked through to come onto the website which as marked as the Paid Search, then he followed one of the social post and came onto the website for the third instance. Till this moment, the user was only visiting the site and bouncing off. At last he searched organically and came on to the website to make a purchase decision, which is shown as “Last Interaction” or “Purchase/Conversion” in the example. With the Google analytics converions report, you would be able to only see “Organic Search” as the channel who got the conversion, but with Multi channel funnels report, you would be able to take a call on which medium is contributing to your sales/conversion cycle and make a better decision on where to spend your budgets.
Assisted conversion report helps you identify which channel initiated, contributed and completed in the conversion cycle along with the value of those sales and conversions. A channel can primarily play 3 roles:
- Initiate a conversion (First Interaction)
- Assist a conversion (Assisted Interaction)
- Complete a conversion (Last Interaction)
Assisted Conversions and Value: This shows the number of sales and conversion a channel assisted. If a channel appears anywhere in the converison flow except the last interaction, it is considered as assisted conversion. The higher the value of this number, the better the channel is in assisting a conversion.
Last Click or Direct Conversion and Value: The higher the value of this number, the better the channel is helping in closing the sales or conversion. The channel that appears last in the conversion flow, for example in the above snippet, “Organic Search” is the last interation for Google Analytics.
First Click Conversion and Value: This shows the number of sales and conversion a channel initiated. If a channel appears first in the interation cycle, it is considered as first interaction. The higher the value for this number, the better the channel is in initiating the conversion flow.
The top conversion paths report highlights the sequences of channel interactions as well as the number of conversions from each path along with the conversion value.
By default, you see the MCF channel grouping path but you can always change the primary dimension to “Source/Medium Path”, “Source Path”, “Medium Path” or create a custom channel grouping according to your requirements.
The time lag report shows you the data in number of days since the user came on the site for the first time (First Interaction) to his conversion (Last Interaction) on the website.
The time lag report shows you the time lag in days (0,1,2,3,4,5,6,7,8,9,10,11, 12-30) along with the conversion and their value. It also shows the percentage of total conversions and conversion value.
The path length report shows you how many channel interactions it took to the final conversion.