The Multi-Channel Funnels is an analysis tool, which allows you to find out how website visitors became conversions, in other words, which websites, media or banners they clicked before having bought something at your online store. The Multi-Channel Funnels is a Google Analytics feature, describes the electronic path from interested website visitor to a paying customer.
If a customer bought a product, he usually came through various channels to a web store, for example, through organic or paid search, social media, newsletters, and banners. He may have been searching for a product or a brand or became aware of the website because of a recommendation. The previous clicks, searches and page visits play an important role. This data will help you recognize how various marketing channels work in tandem to generate clicks and sales.
The Multi-Channel Funnels tool collects and visualizes this data and makes it possible to optimize certain channels in terms of conversions or preparations through reports.
The funnel can display each channel and analyze its performance. Thus, you can assess the effectiveness of marketing activities on each channel. This makes budget decisions in digital marketing easier and can help to ensure that the marketing measures will continuously improve. Multi-Channel Funnels works only provided it has data. An E-commerce software or tracking interface is therefore necessary under certain circumstances.
The Multi-Channel Funnels tool determines data by evaluating the conversion paths. It records sequences of interactions that ultimately resulted in the purchase of a product. These interactions are clicks on links, affiliates or looking at the organic and paid search. Even social networks, e-mail newsletters or specially created campaigns can serve as a resource for interactions. The Multi-Channel Funnels offers five different reports to evaluate these interactions:
1.) The overview visualizes the data. You can select up to four channels with it. This shows how many conversions have been made overall and the statistical breakdown for each channel.
2.) Path length: How many clicks did it take for a user to become a conversion?
3.) Preparatory conversions: If a particular channel acts as a preparatory resource which transforms visitors into a conversion, one speaks of a preliminary conversion.
4.) Top conversion paths: These are the paths that have a high percentage of sales and very often result in conversions.
5.) Time interval: The period to be considered can be defined with this function. The default value is 30 days, it can also be adjusted up to 90 days.
That way you can find out what media with what campaigns and which keywords generated the most revenue. And also, where there is potential for improvement, for example, by adding keywords or functional changes of a webpage (keyword: usability).
Conclusion: The funnel is an essential monitoring tool for the success of websites.