Best Channels

Knowing the best-performing marketing channels is crucial in reaching your most desired customers. So let's take a look at the Best Channels Report - you are going to see marketing in a different light after this!

Definitions

With the help of our Best Channels Report, you are able to uncover which marketing channels attract the best - instead of the cheapest - customers. Your UTM source tags form the basis for linking the performance of your marketing channels with all purchases of your customers. This will allow you to understand your customers’ marketing journey from start to finish.

In addition, don’t forget to connect your advertising platforms with RetentionX to enrich this report with key metrics, such as Ad Spend, Impressions, and Clicks. All metrics or calculations that use this data are marked with the icon of the respective advertising platform.

But before you dive into data analysis, let's ensure that we are on the same page with some definitions. You can evaluate the performance of your channels based on the following metrics:

Attribution Model

Typically, a user does not convert immediately after just one interaction with your campaigns, but has multiple touch points. For example, a prospect is targeted on Instagram, but clicks on the campaign without placing an order right away. Later, he returns to your store through an e-mail campaign and ultimately makes a purchase. Which marketing channel then gets the credit after the customer converts?

That’s where marketing attribution models comes in. Different attribution models factor in the customer journey's various touch points, so you’ll have an objective view of which marketing channels led to the most conversions.

This functionality is exclusively available for custom integrations and 

• First Click: Conversions are attributed to the first click/channel that the customer interacted with.
• Last Click: Conversions are attributed to the last click/channel that the customer interacted with.

Use Cases

Marketing is a key investment to make, but are you getting your money's worth? With RetentionX you can measure the quality of resulting customers for each channel: if a channel has low CAC but the customers that it acquires have the lowest LTV, then maybe investing in this channel did not turn out to be a good idea.

Based on this you can dynamically adjust your budget to the quality of your customers and scale your best channels: LTV and CAC should be balanced to make sure that you are acquiring the best customers with the lowest expenditure.

Data Needed

• Most important: UTM parameters
  • Marketing Campaign Journey
  • Marketing First Click Date
  • Marketing Last Click Date 
• Customer ID
• Order Number
• Order Date
• VAT
• Discounts
• Shipping Revenue
• Stock Keeping Unit (SKU)
• Items Sold
• Item Price
• Cost of Goods Sold
• Product Returns

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