Create participation metrics

Transcript

In this video, I’ll show you how to create participation metrics and use them in Analysis Workspace. I’ll start by explaining the term participation metric. What is it? It’s a metric that allows you to assign full credit to a conversion event across all touch points that led up to that conversion. For example, if I wanted to understand which pages led to a purchase, I would use revenue participation. Let’s say a visitor made a $200 digital purchase. I would see $200 associated with each page that led to it. Participation metrics that may have been configured in the admin area of Analytics don’t show up in the metrics component in Workspace by default. I’ll click on the plus sign to the right of metrics, which opens the calculated metric builder. You can do this anywhere in Analytics. You don’t necessarily need to be in Workspace. But since I’m demonstrating how to use participation metrics in Workspace, this is what I’m doing. I’ll continue with the revenue participation metric example I just cited. So at the top, I’ll filter the components to display revenue. I’ll drag revenue from the left and drop it on the canvas in the definitions section. I’ll name the metric at the top. This metric happens to be currency, so I’ll choose that under format. You have the option of configuring decimal places if you want. The only thing left to do is to configure the revenue metric for participation. I’ll click on the gear to the right of revenue in the definitions section. This opens a modal with an attribution model option. I’ll select that now. Then I can select the specific attribution model from the new modal. Under model, I’ll choose participation. The lookback window is configurable as well. As you can see, there’s lots of flexibility with attribution settings. For example, if you wanted to see cross-visit participation, you choose the option named Visitor Reporting Window here. This would show you revenue participation across visits, provided it falls within the timeframe selected for the report it’s used in. However, in keeping with my example, I’ll choose visit, which is the type of participation traditionally used in analytics. You can also create multiple participation metrics by using the base revenue metric and choosing different attribution models to see how that plays out in your data. I’ll select apply and then save at the top right. Once that’s saved, I’ll see this metric among my other metrics. Now I can use it in a workspace project. I’ll search for page in the left and then I’ll drag and drop this into the freeform table. Initially, let’s look at this report with the revenue metric. Notice 100% of the revenue is allocated to the order confirmation page. This is expected given that’s where all the revenue is collected. Now I’ll replace the revenue metric with revenue participation. You can see how this shows me the participation dollars associated with each page along with the percentage. Now, percentage is probably the better way of looking at this metric since most of the shopping cart pages are required in the purchase flow. You’d look at other pages to see what percentage of time they participated in a purchase and then look at the revenue that they generated. You can create participation metrics from any of the metrics you have enabled in your report suite, but some will be more useful in reporting than others. Then you can use these in analysis workspaces needed. Good luck.