If almost a year ago we brought you the new beta of Session Quality in Analyticswith which we have achieved great results in Remarketing strategies for many of our clients, today it is the turn of the latest novelty that has been enabled for us: the Conversion Probability Beta in Analytics.
And you may ask... what is it and what can it be used for?
This is a dimension that allows us to group the different visitors to our Web site based on their likelihood of making a purchase in the next 30 days. Both this dimension and the average conversion probability percentage metric, based on algorithmic data modeling techniques, the calculation of which is based on similar to those of Smart Lists and Smart Targets. The probability resulting from such a calculation is represented with values between 1 and 100the former being the least likely and the latter the most likely.
In addition, thanks to the new beta of Conversion Probability in Analytics, we can obtain a average of this metric for the store's different digital channelsThis is very valuable information that will allow us to have an overview of the business and the probability of conversion of users depending on the channel they reach:
Expand your Remarketing opportunities
From the experience we have in remarketing strategiesWe are confident that working with audiences created from these metrics will allow us to maximize return on investmentThe company is more aggressive in the group of users with a high probability of conversion, and even negativizing at a given moment all those with almost zero probability of conversion. To do this you can generate segments of these dimensions and then create remarketing lists from the segment, or directly from the creation of audiences.
As you can see, the possibilities that open up for both management and analytics are multiple, but here comes the negative part... currently not available for all accountsThe Session Quality feature, as was the case with the Session Quality feature, is expected to be enabled for all accounts.
Finally, it should be noted that there are a number of requirements to calculate the dimension and metric:
- Minimum 1,000 e-commerce transactions required per month. Conversion probability is currently based on transaction data only.
- After reaching the threshold of 1,000 transactions Analytics requires 30 days of data to generate the model.
If at any time the number of transactions falls below the minimum required Analytics will use the last valid model to generate the data for the report.
We are going to start experimenting by creating advanced Conversion Probability audiences and, in a short time, we will surely be able to bring you the results! Would you like to give it a try?