Product Tripwire Attribution
- January 18, 2016
Product / Tripwire Attribution Report
Wicked Reports’ Product / Tripwire Attribution report connects your customer’s buying behavior for specific products to the marketing activity that acquired them AND the revenue they generate for you AFTER their purchase of a specific product.
Hi, I’m Scott with Wicked Reports and here is our latest game-changing report filled with actionable marketing intelligence.
Buying Cycle Clarity
We call it Product / Tripwire Attribution. This report gives you clarity into the buying cycle of customers after they have purchased a specific product.
For the first time in anywhere, you can connect your marketing efforts to specific product sales within a click range, and THEN see if those customers brought you additional revenue AFTER the specific product sale. Oh, and we calculate ROI automatically back to the ad, social post, or link that first got the customer on your email list.
This reports lifts the veil on whether Tripwire products are leading to profitable lifetime customers compared to how much it cost to acquire them.
Good news for our existing customers: If you have been tracking using WickedID or UTMs, you already have this data calculated back through time.
So let’s dive in.
Back to the Future with Date Range Selection
We gave this report its own menu option, “Product Tripwire Attribution.” Wicked Reports users will notice right away that only one current attribution model is available for this report, “first optin.” This report will use marketing data related to first optin attribution, which is how your customers joined your email list.
Listen closely about date range selection. You choose dates for the click-range activity instead of the date range provided, which is the time for all the metrics on a given report. This report delivers maximum value when you pick a tight click range in the past, such as a week, and then see if the customers exhibited the anticipated purchase behavior after that click range. In essence, you go Back to the Future.
The idea is to look at the marketing clicks during the click-range activity, check for purchases of the product selected, and then look for revenue and sales both during the click range. Then also look after the click range up until the day of running the report. This will tell you your customer’s buying cycle when he is attracted to a specific Tripwire or product and from a particular marketing source.
The product drop down just after the click range selection area lists the products out of your CRM along with their product ID inside your CRM. Pretty much every Wicked Reports customer has the same product name listed multiple times, so look carefully for the correct product ID.
Once you are happy with the click range you selected and your product, click Filter and the report fires up.
Wicked Advice: Positive or Negative ROI
The first five columns are familiar to Wicked Reports users. They show the tracking we captured for the leads and sales on the row. As always, those are filterable by selecting from the drop-down or simply typing.
The real juice of this gem of a report kicks in with these next columns. We are debuting our “Wicked Advice” column that spells out very clearing if your ROI is positive or negative.
And while you get the cost, clicks, and optins for the lead source, the next columns show the sales of the particular product you selected, for the time period, put on the row of how they got on the list. We also show any other product sales that occurred during the click period selected. “Other” means not the product you selected in the dropdown.
All this gets totaled up and you have the total click revenue for the click-range period.
Total Delayed Revenue
Are you with me so far? Good. Now here is the real next level of metrics you pay us for.
“Total Delayed Revenue” is the amount of revenue the customers on this row, that bought this Tripwire or product during the click range, have spent with you AFTER the last day of the click range selected. As usual, the revenue comes from your CRM, not some misfiring pixel.
In the video example, each row’s total delayed revenue is how much money was spent after April 30th by customers that bought “Large Lobster Tails” from April 1 to April 30.
Furthermore, you can scroll to the right to find out exactly when that delayed revenue showed up.
Let your mind begin to grasp this one.
For those of you running trial memberships of any kind, this report tells you if it is working, where it is working ,and who it is working on.
Same thing goes for product attribution of any kind. It doesn’t have to be Tripwire’s. This is just the most obvious application of these analytics.
As we always do for our Wicked Reports customers, let us know how we can take this report further to give you an even greater edge on our competition.
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