Measure Internal Campaigns with Participation metrics?
I like the concept of measuring Content Velocity discussed here, but I'm not used to using Participation Metrics so I hope there's a Participation Metric guru out here that can help shed some light on my doubts...
I am wondering if we can do a similar analysis but for conversion-related reports, specifically Internal Campaigns?
Instead of understanding which page influences customers to view more content as Content Velocity does, the idea is to understand which internal campaigns do a better job at influencing customers to trigger the buying process. In a real-life application, this will help determine which campaigns should be featured in more prominent locations of the site.
Say you have the following internal campaign report setup: Merchandising eVar with Allocation First, Expiration Purchase. Captures internal campaign code from URL after customer clicks on banner. If customer nagivates away from the destination page you overwrite the internal campaign code with a non-value. If customers clicks on a different internal campaign then the value is overwritten with the new code... At the same time you enable Participation on the Cart Adds and Order events.
We can generate the following in the context of the internal campaign report:
- "Cart Add Participation / Visits" = measures influence of internal campaigns to lead customers to add products to cart. The first internal campaign clicked will get more cart adds than subsequent campaigns, and since customers have to click a campaign in order to record a visit to it, this means a higher number here is better.
To tie this back to purchases:
- "Order Participation / Cart Add Participation" = measure efficiency of an internal campaign to influence a purchase in terms of all cart additions generated after clicking an internal campaign. A higher rate is better.
Since Participation Metrics are calculated on per visit basis, these metrics would only be relevant to cart additions and purchases that happen in the same session that customers click on the internal campaign. Also, the participation metric will give credit of cart additions and purchases that happen outside the internal campaign product finding method. This means the expiration and allocation of the eVar no longer apply when looking at these calculations (I also think the non-value would would not be useful in the context of these metrics), but I think this can help gauge which internal campaigns lead customers to both add more products to cart, and to place a purchase on your site. Plus if you have SAINT classifications to identify the location of the internal campaigns, you could also measure which location on your site is better to feature internal campaign banners to influence orders.
Maybe this is completely out of the mark and/or too complex, but what do you think?
Thanks!