Efficiently investing in marketing is challenging and overwhelming. We get it. Increased ad costs, more competition, endless channel options, and tighter budgets have created the perfect storm for marketers. So what is the survival kit in this storm? It’s data.
It’s no surprise then that companies that effectively use data to guide their marketing canincrease sales productivity by 25%.With crunched budgets and less to spend on marketing than ever, quality marketing insights are critical to maximizing your spend and return on investment (ROI).
That’s why forEditions, Winter ’23, Shopify is launching marketing reports tosimplify and elevate your marketing data so you cannot only survive the storm, but grow with efficient investment. The best part is: these reports are included in your Shopify plan.
With marketing insights from Shopify, you can take advantage of:
- Greater accuracy.Data in Shopify is the closest to the customer experience, with the clearest view into their behavior. Shopify’s data is also unbiased toward ad effectiveness.
- Greater insight.Get new aha moments with a holistic view of your marketing investment. Look at data for traffic, sales, and all channels in one place.
- Greater actionability.Easily take action on your marketing data from a central workstation and use direct paths to apply learnings in Shopify or third-party ads and marketing campaigns.
Let’s explore each new report to learn what questions they can answer and how they can help you get more out of your marketing budget.
Explore Shopify’s new marketing reports:
Marketing Summary: Insights at a glance
Start with the new Marketing Summary, review key performance indicators (KPIs), and visualize month-to-month results. Use this information to measure the effectiveness of your marketing, from driving traffic to converting to sales, as part of your daily routine.
Use this report to:
- Get a daily snapshot of your marketing’s effectiveness
- Track sessions and sales over time
- Drill down into each data point
Top Channel Performance: Analyze your channel mix
Scroll down the Marketing section to see your top five marketing channels by sales, sessions, orders, conversion, average order value (AOV), first-time customers, or assisted orders—for any specified timeframe.
Use this report to:
- Get a snapshot of your channel results
- Assess which channels perform best
- View sales and sessions data together for key channels
Overall Channel Performance: Put marketing insights to work
从你的Top Channel Performancereport, click “View Report” and get transported to the Overall Channel Performance report. Visualize your top channels over time, and see all your results in one place. Deepen your analysis with new attribution model options and modify/sort your table by the metrics that you care about most, from AOV to sales.
Use this report to:
- See all marketing channels, organic and paid
- Uncover high-performing and low-performing channels (by sales, sessions, orders, conversion, AOV, first-time customers, and assisted orders)
- Compare conversion points across the customer journey by switching between attribution models
Channel Activity Report: Get granular
Learn about the role each channel is playing across the entire purchasing journey—from that first store visit to purchase.Click a Channel Activity report for a deep dive into a specific channel’s performance, looking at all activities in that channel.
Use this report to:
- See a complete list of marketing activities related to that channel
- Validate which activities perform best
- Prioritize which activities to repeat or increase investment in
Attribution Models: Understand the customer journey
Lean into being a data-nerd with new Attribution Models—the dropdown options found on the top left of the new Channel Performance report. They provide a holistic understanding of your customers’ journey to conversion.
You can modify the Channel Performance report using three different attribution models:
- Conversion by last click.Gives 100% of the credit to the last click event of the buyer before they purchase.
- Conversion by last non-direct click.Gives 100% of the credit to the last click event before a buyer comes directly to your store to make a purchase
- Conversion by first click.Gives 100% credit to the first click event of the buyer before they purchase.
Use these models to:
- Uncover when and where across the customer journey buyers are converting
- Determine which assets (medium, channel, etc) are most useful at each stage of the journey
- Guide investment in the most effective channels for your funnel goals
Let’s get to work
Log in to yourShopify adminnow and discover the power of new and improved marketing insights andattributionto drive your business forward. Covert more, spend less, and do it all in one place—with accurate, insightful, and actionable marketing data.
Put marketing insights to work with Shopify
Shopify’s easy-to-understand reports help you adapt to growing trends, improve marketing efficiency, and maximize your return on ad spend everywhere you market your business.