Assisted Conversion Rate Metric Definition

Assisted Conversion Rate measures the percentage of conversions that are influenced by a marketing channel or touchpoint but not directly attributed to it as the last interaction. This metric helps businesses understand the impact of various channels in supporting conversions throughout the customer journey, highlighting the role of each channel in the conversion process.

Detailed Explanation

What is Assisted Conversion Rate?

Assisted Conversion Rate refers to the proportion of conversions in which a specific marketing channel or touchpoint contributed but did not serve as the final step before the conversion. For example, a customer may first encounter a brand through a social media ad, click through a paid search ad, and finally convert through an email campaign. In this case, social media and paid search would be considered assisting channels. This metric helps marketers evaluate the overall influence and value of each channel in guiding users toward conversions.

How it Works?

Assisted Conversion Rate is calculated by dividing the number of conversions that a channel assisted with by the total number of conversions influenced by any channel, expressed as a percentage:

Assisted Conversion Rate = (Number of Assisted Conversions / Total Conversions) x 100

This metric helps businesses understand the broader customer journey, as it identifies channels that play a critical role in the early or middle stages of the conversion process, even if they are not the final touchpoint before conversion.

Types of Assisted Conversions

1. Paid Search Assisted Conversions: Measures how often paid search ads contribute to conversions without being the last-click interaction.
2. Social Media Assisted Conversions: Tracks conversions where social media interactions helped guide the user towards a final conversion.
3. Email Assisted Conversions: Evaluates conversions that were influenced by email campaigns but finalized through another channel.
4. Referral Assisted Conversions: Measures the impact of referral traffic in assisting conversions that ultimately occurred through a different channel.
5. Organic Search Assisted Conversions: Tracks how organic search plays a role in the discovery phase, even if users convert later through other touchpoints.

Illustrative Scenarios

Examples

• A retailer tracks Assisted Conversion Rate for social media, finding that 30% of its conversions are influenced by social media ads, even though the final conversions happen through paid search.
• A B2B company uses Assisted Conversion Rate to understand how its email campaigns support the sales process. They find that 25% of their conversions involve an email touchpoint before the user finally converts through the website.

Segmentation

Assisted Conversion Rate can be segmented by channel, campaign, or user behavior to understand which channels are most effective at supporting conversions. For instance, businesses can analyze whether social media has a higher assisted conversion impact during product launches or if email campaigns drive more assists during promotions.

Factors Influencing Assisted Conversion Rate

1. Customer Journey Length: Longer customer journeys with multiple touchpoints tend to have higher assisted conversion rates, as users interact with several channels before converting.
2. Channel Integration: Channels that are well-integrated into the overall marketing strategy, such as retargeting ads and content marketing, are more likely to assist in conversions.
3. Brand Awareness: Channels that focus on building awareness, like social media and display ads, often play a significant role in assisting conversions by keeping the brand top of mind.
4. Engagement Quality: Channels that provide engaging content, like informative blog posts or interactive ads, are more likely to assist conversions by nurturing potential customers.
5. Campaign Strategy: Multi-channel campaigns that guide users through different stages of the funnel typically have higher assisted conversion rates, as they influence users across multiple touchpoints.

Strategies to Improve Assisted Conversion Rate

1. Focus on Multi-Channel Campaigns: Use a combination of channels, such as social media, email, and paid ads, to ensure that each stage of the customer journey is supported and that users are consistently engaged.
2. Enhance Content Across Channels: Provide valuable and engaging content at each touchpoint to increase the likelihood that users will interact with your brand again before converting.
3. Implement Retargeting Campaigns: Use retargeting ads to re-engage users who have previously interacted with your brand, increasing the chances of assisted conversions.
4. Leverage Data Analytics: Analyze customer journey data to identify which channels and touchpoints most frequently assist conversions, allowing you to optimize those channels for better performance.
5. Strengthen Brand Presence on Awareness Channels: Focus on building a strong brand presence on social media, display ads, and content marketing to keep your brand top of mind throughout the customer journey.

Benchmark Indicators

Understanding Assisted Conversion Rate benchmarks by industry helps businesses evaluate the contribution of each channel and set realistic goals for optimizing multi-channel strategies:

• Technology Industry: Assisted Conversion Rate benchmarks typically range from 20% to 40%, with social media and content marketing playing a key role in guiding users to conversions.
• Healthcare Industry: Assisted Conversion Rate benchmarks range from 15% to 30%, focusing on content marketing and email campaigns as key supporting channels.
• Financial Services: Assisted Conversion Rate generally ranges from 25% to 40%, as customers often interact with multiple touchpoints, such as organic search and paid search, before converting.
• E-commerce: Assisted Conversion Rate benchmarks range from 30% to 50%, with channels like display ads, social media, and email playing significant roles in guiding users through the purchase process.
• Education Sector: Assisted Conversion Rate can range from 20% to 35%, influenced by social media campaigns, email newsletters, and content downloads.
• Real Estate: Assisted Conversion Rate benchmarks range between 25% to 45%, with high engagement from email campaigns, content marketing, and referral traffic.

Tools for Measuring Assisted Conversion Rate

1. Google Analytics: Provides Multi-Channel Funnel reports that help track assisted conversions and identify how different channels contribute to conversion paths.
2. Attribution Modeling Tools: Platforms like HubSpot, Adobe Analytics, and Nielsen provide detailed insights into multi-touch attribution and assisted conversion rates across various channels.
3. CRM Platforms: CRM tools like Salesforce can track touchpoints across the customer journey, helping businesses analyze the role of different channels in assisting conversions.

Common Pitfalls and Mistakes

1. Overemphasizing Last-Click Conversions: Focusing only on the last interaction before conversion can overlook the important role of assisting channels, resulting in underinvestment in key touchpoints.
2. Ignoring Cross-Channel Synergies: Not considering how channels work together can lead to missed opportunities for optimizing assisted conversion strategies.
3. Failing to Use Data-Driven Insights: Neglecting to analyze data from assisted conversions can prevent businesses from understanding which channels are most effective in supporting conversions.
4. Not Adjusting Attribution Models: Relying on a single attribution model may not fully capture the value of assisted conversions; using models like linear or position-based can provide better insights.
5. Setting Unrealistic Goals: Setting unattainable targets for assisted conversions can lead to frustration; it’s important to base goals on realistic industry benchmarks.