As you’re optimizing your advert campaigns, one of many first metrics you’ll in all probability take a look at is your conversion fee.
However what for those who needed extra granular information in your clients’ buy journey? What for those who needed to grasp not simply what share of individuals purchased your product, however how lengthy it took them to make these purchases?
That is referred to as Time To Conversion, and it’s a key measurement instrument that many advertisers are nonetheless overlooking.
Primarily, Time to Conversion is the time between when a buyer engages together with your advert and after they make a purchase order.
Sure merchandise have for much longer occasions to conversion than others, and so do sure adverts: for instance, DSP adverts take longer to drive purchases than Sponsored Merchandise adverts.
Unlock Time To Conversion insights with Amazon Advertising and marketing Cloud
“Time to conversion” is a well-liked metric in different segments of the digital advert world. Google tracks a model of this metric, and so does Fb. However there aren’t some ways to measure Time To Conversion within the Amazon context. Till now.
That’s the place Amazon Advertising and marketing Cloud is available in. Amazon Advertising and marketing Cloud (AMC) is the one place the place you may monitor the time elapsed between advert contact and ultimate buy.
You should utilize our Time To Conversion question to make smarter selections about when to re-target consumers with adverts, whether or not or not it’s time to change your attribution window, and extra.
For example…
Here’s a plot of the Time to Conversion for 2 Intentwise shoppers. Model 1 sells lower-priced child toys, whereas Model 2 sells higher-priced STEM toys.
Right here’s Model 1 (cheaper price):
Right here’s Model 2 (increased value):
As you may see, Model 1 sees extra conversions inside the first 24 hours than Model 2. That may be due to value: Model 2 is costlier, so its clients are taking barely longer to make their purchases.
Understanding your Time To Conversion graph is important. With this information, you may reply questions like:
1. How lengthy ought to I wait earlier than working a re-targeting marketing campaign?
After your buyer views your product with out buying, it’s important to determine when to re-target these consumers who clicked your advert however didn’t make a purchase order.
Generally, the rule of thumb is to re-target shortly. A Stanford research from 2019, for example, concluded that manufacturers ought to re-target clients inside two days after they go to a web site. Half of the impression on gross sales occurred in these first two days.
However precisely how lengthy do you have to wait earlier than re-targeting? An hour? A day?
The Time to Conversion question is designed particularly to reply these questions. Working the Time to Conversion question can produce a graph like this:
Have a look at your unfold intently, after which use it to calibrate the timing of your re-targeting marketing campaign.
For instance, for those who uncover that there’s a spike within the variety of conversions 36 hours after an advert click on, you would possibly wait till that spike has handed earlier than you re-target. In any other case, the re-targeting marketing campaign may be untimely.
By the identical token, Time To Conversion can inform you when you must cease re-targeting clients.
The Time To Conversion question reveals you when purchases start to plummet—say, after 30 days—so you understand, by that time, re-targeting may be a waste of cash.
2. When is the proper time to deploy my media combine?
You would possibly wish to know: How lengthy does it take a buyer to transform after seeing a DSP advert vs. after seeing a Sponsored Merchandise or Sponsored Manufacturers advert? AMC can shortly reply these questions for you.
Unsurprisingly, Sponsored Merchandise adverts have a a lot quicker Instances To Conversion than DSP adverts do. In spite of everything, they’re decrease within the conversion funnel than DSP adverts.
However understanding the Time To Conversion for every advert kind lets you deploy your media combine extra strategically.
As an illustration, you may construct an viewers of consumers who noticed a DSP advert. With Time To Conversion, you may determine the optimum second to serve them the subsequent advert.
Then repeat the method till you may have maximized conversions.
3. Is it value it to vary my attribution window?
As we lately defined on our weblog, Amazon solely attributes gross sales for as much as 14 days after an advert is clicked. (The one exception: Sponsored Merchandise adverts on Vendor Central solely get a 7-day attribution window.)
Meaning, if somebody buys your product 15 days after interacting together with your advert, the advert gained’t get credit score for influencing the sale.
There at the moment are methods to extend your attribution window, nevertheless. In AMC, for example, now you can create 28-day attribution home windows for every type of adverts.
However do you have to trouble?
Time To Conversion is a good way to seek out out whether or not widening your attribution window will make a significant impression on the way you consider your advert campaigns.
Let’s say you run a Time To Conversion question, and also you uncover that nearly no gross sales are coming 15-28 days after an advert is considered. This outcome would possibly sign to you that growing your attribution window isn’t value it.
Nevertheless, you would possibly discover {that a} bigger variety of gross sales are occurring in that 15-28-day interval. This may be the case particularly for those who promote a high-price product, for which individuals are inclined to take longer to make buy selections.
In that case, it may be time to widen your attribution window in AMC. And with out the Time To Conversion question, you wouldn’t even understand what number of gross sales you had been lacking.
Able to get began? Join a demo of Intentwise’s AMC resolution.
