Stylistpick has seen the number of conversions driven directly from Facebook ads jump from 3% to 15% after applying a multi-click attribution model to the social network.
The online fashion accessory retailer has been working with ad management platform Marin Software to measure the role Facebook ads play in conversions and monitor how the ads influence other channels including PPC, display and affiliates. Marin tracked all the retailer’s Facebook ads across various product campaigns over a four-month period.
Traditionally the retailer had viewed all its channels using a last-click attribution model which showed Facebook ads only led to a 3% conversion rate, which compared poorly to other channels.
However, once it integrated its channels into the Marin platform it pinpointed that Facebook ads help drive a much higher conversion rate when viewed as part of a multi-click attribution model. Using this model it saw conversions jump to 15% driven directly from Facebook ads. Conversions were categorised by paid subscription sign-ups, email registrations and Likes.
Stylistpick’s senior online marketing manager Cormac Doyle said Facebook ads play a key role in the first-click path to conversion, and have in some cases driven up to 70% hikes in revenue. “One of the things we have noticed is that if you look at Facebook as a multi-click rather than last-click attribution morel it drives significant revenue,” he said.
Most of the conversions that come from click-throughs on Facebook ads are driven from the first click, not the last nor intermediary, according to Doyle. “Anyone looking only at their ads on a last-click conversion basis, in any case where there are multiple clicks in the path to conversion, will be undervaluing Facebook,” he said.
The insight has helped it bolster its understanding of the role Facebook can play in its overall attribution modelling, which in turn has led to more effective budget allocation.
“We are seeing incremental conversions through Facebook ads, which shows they are early influencers in consumers’ purchasing behaviour. When we switch Facebook ads off we see a definite dip in traffic and conversions – without that initial interaction people may not then go on to do generic searches on Google for example. If we removed it we would be removing an important part of the conversion path,” said Doyle.
Stylistpick has around 500 unique ad creatives, and 5,000 ad variations running across Facebook, highlighting multiple products.
“We thought it was important not to just replicate what is working in paid search to Facebook, which lots of brands seem to do. We haven’t found that really works.