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This is an AWESOME feature!
We were a little late to the game when setting up our Marketing Channel logic, so we're using this feature to go back in time and create visit based segment channels. Previously, if we were building a visit segment based on the referrer, the referrer only lasted until 30 minutes of inactivity and we would be under-reporting orders for those referrers. Now we're pushing that to a full 24 hours of inactivity, which is helping us attribute about 30% more orders/revenue to referrers. This is also the case with Organic Search, Organic Social, And anything else that would pivot off of a referrer.
One thing that we're noticing, report suites with a modified visit expiration don't seem to take into account persistent eVar values that were set previous to the report timeframe. So If I have a report that is broken out by the months September and October, the eVar is smaller if my report timeframe is set to just September and October vs if I extend the report timeframe all the way back to January.
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