Drive Sales
Figure 3-2: Google Analytics Showing Assisted Conversions Report
Google and the Google logo are registered trademarks of Google Inc., used with permission. A conversion paths report will show you the various branding initiatives and the number of conversions that were assisted by each channel. But you have to drill even deeper if you want to find the link between branding and the economic value produced by them — sales. It’s fairly easy for eCommerce websites to determine that link, since economic value equals the total revenue from the website’s sales transactions. But for lead-generation websites, there’s one additional calculation needed. You need to know your sales revenue from your online leads; and then you must assess how many leads you need in order to sell a certain amount of product through your offline channels. Once you have both numbers, calculate the ratio (with the sales revenue figure in the numerator). This ratio represents the economic value of getting each lead through your digital channels. Economic Value per lead
Sales Revenue from online leads Amount of leads needed to close those sales
You should set up this ratio as the conversion goal value in Google Analytics, so you can see revenue numbers instead of conversion count (just as you’d see with an eCommerce model). Of course, when looking at a report, this kind of economic value won’t represent actual transactions or present time income. Instead, it represents highly probable future transactions and income in the short term. Taking this step will also give you access to the assisted conversion value tied to your marketing efforts, as you see in the following report.
35