Nearly half of all e-commerce and brand conversions started with a display advertisement.
In a sales funnel, brand awareness happens at the top, whereas the “lower funnel” is home to the point of sale. While the sale is the final goal, brands need to focus on the “upper funnel” in drive more new customers to purchase. This report underscores the role that display can play in driving initial interest and the value of investing in upper-funnel and mid-funnel tactics when finally capturing insights of Full-Funnel Attribution.
C3 Metrics examined 50,000 transactions across a subset of clients. C3 Metrics’ proprietary decision engine provides full-funnel attribution modeling, capturing all online media sources from the top of the funnel, where sales are originated, to the conversion at the bottom of the funnel. Across all 50,000 transactions analyzed, C3 Metrics determined originators, assists and converters for each transaction at a granular level.
The C3 Metrics’ Labs study found that in 44% of all online transactions analyzed, display was the first media source, which originated the transaction funnel, ultimately delivering the 50,000 conversions.
C3 Metrics CEO Mark Hughes elaborated, “If an advertiser is still using last click/last view analytics, they never see this kind of data because every online ad in the upper funnel is hidden—and given zero credit. Since clients using C3 Metrics have insight to which media plant the seeds of revenue that initiates a consumer transaction, they reallocate media dollars to sources driving incremental revenue versus competing at the bottom of the funnel.”
C3 Metrics’ Labs results underscore that, when measured thoroughly with full-funnel attribution, display has much more value than ever expected. In fact, of all 50,000 transactions analyzed, only 13% were converted by a display ad.
Insight into top-of-funnel activity is critical in understanding what actually drives awareness, interest and revenue.
With proper attribution modeling, advertisers can see far above “last click/last view” residing at the end of the funnel, and consequently allocate budget to channels that best originate and assist incremental revenue, like display.
C3 Metrics CEO added, “Puzzlingly enough, it’s the only industry where all the competition is for last place. But now, we’re on the verge of a major shift in media metrics.”