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Google Analytics Adds Conversion Funnel Benchmarking Tool
Tim Peterson / AdWeek / April 26, 2013
Plots channels’ impacts on purchase paths by industry
With marketers all but required to play in multiple digital channels these days, ranging from online display to search to email, they are increasingly likely to have a hard time figuring out which channels to invest in at what point in a consumer’s path to conversion.
But since Google plays in most of those channels, and has a window into conversions (via e-commerce sites that use Google Analytics), it is now opening the shades for marketers to get a peek.
Today Google Analytics unveiled a benchmarking tool called The Customer Journey to Online Purchase. Similar to the mobile ad calculator introduced last month, the multichannel tool won’t directly help advertisers manage actual buys, but is intended as guide. Like those SparkCharts study aids, it won’t guarantee you ace the test, but it will help ensure you studied the right lesson.
Pulling purchase data from more than 36,000 e-commerce sites which have opted in to share that data with Google Analytics, the tool plots various marketing channels on a conversion path from awareness to consideration to intent and ultimately decision, and modifies the spectrum for seven countries and 11 different industries, including consumer packaged goods, finance and auto. “For [a particular] industry or all industries, you can see different marketing channels and what position they’re playing in the conversion funnel,” said Google Analytics engineering director Paul Muret.