Impact of alternative offers on visitors’ choice
This article describes a way to increase the accuracy of the product category efficiency evaluation. It can be achieved through the sales distribution analysis by product category, in the context of a landing page.
Challenge
Typically, the vast majority of sessions begin with a product page. At that, the user can land on one product page, and purchase a substitutional item or a product from a related category. Thus, individual products or entire product groups can stimulate sales of alternative products or related categories. Therefore, when evaluating the category efficiency, calculating ROI of a certain category, or evaluating advertising campaigns by category, it is important to consider how product sales and categories allocate, depending on the product category of the landing page.
Solution
Using BI Google Analytics to Google BigQuery you can collect and analyze comprehensive and unsampled data about each user action. You can supplement this data with advertising costs via BI Pipeline Cost Data Import. On the basis of this data with the help of BigQuery Reports Add-on для Google Sheets, you can answer two important questions:
- How does the share of sessions, where a user landed on the product page and bought an item from a landing pages, varies depending on the product category on the landing page?
- How does the product sales distribute, depending on the product category on the landing page?
Results are used by:
Analysts and category managers to fairly evaluate the category efficiency, calculate ROI by category. This allows you to make data-driven decisions to manage advertising budget.
FAQ
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What is an alternative offer in marketing?
An alternative offer in marketing refers to a different product or service that is presented to customers as an alternative to their initial choice. It is aimed at redirecting their attention and potentially increasing conversions. -
How can alternative offers impact conversion rates?
Alternative offers can have a significant impact on conversion rates by providing customers with additional choices. By offering alternatives, businesses can cater to different preferences and needs, increasing the likelihood of making a sale or conversion. -
What are some effective strategies for implementing alternative offers?
Some effective strategies for implementing alternative offers include conducting thorough market research to understand customer preferences, segmenting your audience to offer personalized alternative options, and testing different offers to optimize conversion rates. Additionally, employing persuasive and targeted communication strategies can positively influence the success of alternative offers.
