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How do you attribute conversion to key events?

  • 12 June 2020
  • 5 replies
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How do you attribute conversion to key events?
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  • Peishan Mixpanel Customer Success
  • Mixpanel Customer Success
  • 46 replies

One great thing about our funnel conversion is its ability to break down conversion by event properties. For instance, if you wanted to understand the purchase conversion rates by cities, you could create a 2 step funnel with Step 1: Add to Cart, and Step 2: Purchase, and use the event property “City” to see the conversion rates by cities.

 

But what if you had different key events that contributed to the purchase? Could you still understand which events drove the highest conversion rate?

 

The answer is yes, if you’re looking at a first touch attribution. Here’s an example: Suppose you’re an eCommerce company, and there are three key actions that drive users to purchase.

  1. Join a Loyalty Program

  2. Browse

  3. Search

 

You’d like to attribute the conversion rate to the first time within your conversion window that the user does any one of these events. I.e. If a user joins a loyalty program first before browsing then purchasing, the credit is given to “Join a Loyalty Program”.

 

To analyse the conversion rates, we can hop into the Funnels report, and create a custom event for the key events that we want to measure:

 

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Then, we create a two step funnel and breakdown by event property “Event Name”. Be sure to change the attribution type of the breakdown to first touch, so that we get the attribution by the key purchase drivers.

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This is the result you’d see:

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5 replies

R
Userlevel 1

Dear Peishan,

 

Thanks for sharing this. We use this feature and have found it very useful. I have a related question. How would we use this case to evaluate a “combination” of influencers, where each influencer has its own specific event. 

For example, if one were to sell a camera, one could have the following influencers:

 

  1. General features of the camera
  2. How to take excellent portraits
  3. How to make professional video

 

As a camera manufacturer and a retailer, I would like to know what is the propensity of people to purchase who watch just influencer 1, those who just watch influencer 2, and 3. This is something that I can probably do with Signal. However, I would also like to compare the same with the probability of conversion for people who watch influencer 1 AND influencer 2 in a certain time period.

We have found doing so to be yield results that are of much higher quality. Is there a way to do this today within MixPanel?

 

-Rajat

 

 

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Hi Rajat,

 

Great question! Yes you can. So for your example, let’s suppose your conversion funnel is a two step funnel: (1) view camera details (2) purchase.

 

You’d like to compare the conversion of  (A) users in this funnel who have watched just a video about the general features of the camera with (B) users who have watched both a video about the general features and taken excellent portraits. You’d just create these two separate cohorts for these users. Example of Cohort A:

 

 

Next, apply these cohorts to your funnel breakdown. You’d then be able to compare the conversion rates between the two cohorts.

 

Hope that helps!

 

R
Userlevel 1

Thanks Peishan!! this does help. We can then trend this metric to see how these numbers change.

 

-Rajat

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Just wanted to add an update! Since I wrote this piece, our product team has worked hard behind the scenes on a new feature which negates the above workaround and makes it easier than ever to see which event drives higher conversion.

Use this new “add event comparison” step in your funnel as seen in the image below.

 

You can play around with this feature in our demo report here as well: https://mixpanel.com/s/VO6iY

A

@Peishan How do you account for uniques when using the “add event comparison” feature? In your example, people could do one or all of “Browse” “Join loyalty” and “Search”  then Purchase. Is there an easy way to understand people who only did one, many, or various combinations?

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