How do I set up Revenue tracking in Analytics

[#1]

We are a mortgage loan provider. We want to track revenue generated by two events..

1. Pre-qualify form

2. Loan application.

Both are forms that visitors fill out when they come to our site. We want to track the loan amount applied for in both cases and be able to attribute it back to conversion points, and referrers, and Marketing Channels. Currently we have evars and success events set up on various paths leading to the both events listed above. Now we want to implement revenue tracking. I got mixed responses from client care so not sure which is the best response or the correct way of doing it. Right now I have sent up an event as currency to pass the value of the loan to an event variable that I have set as currency. However should I be using the purchase event variable instead? and if so am I suppose to set up some sort of product list as well? If so how do I do that?  When reading about this stuff in blogs and ADobe material it seems so cut and dry, but trying to implement it seems confusing. Funny thing is we are only trying to track two things. There are many retails sites that have over 100s of products so it seems like this should be doable and easy.  Please help. I am not sure what to do.

Thanks

[#2 · Accepted solution]

Hi there,

You do have a lot of options so it can definitely cause confusion - sorry!

I'll try and explain based on your two options:

Option 1: Currency Events:

Currency events (as shown here: Compare counter, incrementor, and currency events ) are basically just regular events that can accept 2 decimals and are formatted with a $ dollar sign ahead of them in the interface. In Workspace, the data would look like this:

Both of these metrics are currency events.

* You'll notice that the decimals are not shown by default. If you need decimals, you can create a calculated metric based on a currency event and add decimal places there.

* You'll also notice that the currency symbol is shown based on the report suite's Base Currency setup. That's why these two metrics show a USD $ rather than a Euro or GBP symbol.

To implement currency events, you do not have to use the products variable if you don't want to. You can simply set:

s.events="event2=9.95";

and event2, if it's a currency event, will receive $9.95.

Option 2: Using Products:

I'll be honest, the products variable is complex and difficult to use. Everyone gets tripped up here, so you're not alone if it's confusing.

Unfortunately this is a bit of a necessary evil because, as you mentioned, some companies have thousands of products that need to be tracked, each with individual metrics for revenue, units, discounts, tax, shipping, and more. So that's why it's so complex.

If you want to use the default "Revenue" metric in Adobe Analytics, then you *must* use the products variable to send data to it.There is no other way to capture data in that metric without using products. The advantage to doing this is you can apply revenue metrics to product SKUs, rather than eVars. There are some significant advantages to doing this, especially when multiple products are being purchased at the same time - product A costs $40, product B costs $10: using the products variable ensures that each product receives the correct amount of revenue. If you were to set these in eVars, you couldn't properly distinguish them unless you used different events too.

Here's the syntax (as described here: products 😞

s.products = "Category;Product;Quantity;Price";

Let's break down the individual fields:

Category is generally ignored since you have more control using Classifications. Therefore, the products variable syntax usually starts with a semicolon.

Product is the product name/sku that you want to pass in.

Quantity is the total number of units being purchased

Price is the total number of units times individual revenue per product purchased.

You can also send product-specific events and merchandising eVars here, but that's a whole new can of worms that I don't think you need to worry about just yet. For a good merch eVars reference: (https://analyticsdemystified.com/adobe-analytics/merchandising-evars-omniture/ )

Populating the Revenue metric also requires sending the purchase event:

events="purchase";

I hope that helps!

[#3]

You may want to try this extension:

Adobe Analytics Product String Launch Extension

It makes it easy to add events, products, etc to the purchase.

For tax/discounts/etc - you'll want to pass those in as additional custom events with the purchase. Check out the details on Product-specific custom events and Order-Wide custom events on this KB page: products

[#4]

Hi Eric,

I'm using Adobe Launch as my implementation method.

If I have a single product purchase, do I need to hardcode this on the /thank-you page?

1. s.events="purchase"

2. s.products="Footwear;Running Shoes;1;69.95"

3. s.purchaseID="1234567890"

OR

Do I need to have a digitalData.transaction object in my dataLayer and use data elements to pick up values for category, product, quantity, price and purchaseID.

What about tax, discounts and transactionTotal? Where would I have these values?

Also, if I create a rule to push revenue info to AA, would I need to create a Rule > Adobe Analytics > Set Variables and then jump to custom code section to have something like this?

s.events ="purchase"

s.products="%category%;%product%;%quantity%;%productRevenue%"

s.purchaseID=%purchaseID"

Where would transaction Total go?

Thanks.