How to count revenue for the campaigns
Count how much profit your campaigns bring you in a given period of time.
Definiton
Campaign Revenue shows you how successfully the estimated goal was reached by a specific campaign i a given period of time. The system checks if the user was enough engaged to performed an expected action and counts how much benefit it brings to your business.
How to Set the Revenue Estimation
To configure the revenue count you need to visit the Analytics section of the application. In the top right corner of the panel you can find the button "Revenue event" that opens up the configuration form.
Now you need to specify the conditions of your revenue event:
Revenue counting factor: Choose from simple and product events what type of event you want to count the revenue from.
Revenue event: Start typing the name of the event that should be considered a conversion point. (For example, "purchase").
Revenue event attribute: Pick the event attribute which values system should sum up to get the revenue calculated. Remember, it should be a numeric attribute. (For example, "price")
Currency suffix: Decide on a currency. (For example, "USD")
Revenue period: This is the number of days you give to the user to perform the expected action. So, all the event occurrences of the campaign recipients appearing within a chosen period of time are counted to the revenue result.
Now when the event is configured, your Email Campaign section includes a new column called "Revenue". Once a day (around 1 a.m. CET) it is automatically recalculated on the basis of the set parameters.
Once you configure the revenue event, first results will be shown the next day.
Use Case
The logic for calculating revenue from email campaigns begins with identifying a revenue event. Once a revenue event occurs, the system searches for the closest touchpoint in time from any email campaign (either an email open or click), that falls within the defined revenue period.
The revenue is then attributed exclusively to the campaign associated with this closest touchpoint. This ensures that the revenue event is linked to the campaign most likely to have influenced the user’s action.
Example:
Revenue counting factor: Product Event
Revenue event: Purchase
Revenue event attribute: Price
Currency suffix: USD
Revenue period: 7 days
Let's imaging there is the sequence of emails sent after the registration of the user to motivate them to make the purchase. Campaign A is sent on day 1 and the Campaign B is sent on day 3. User opens both emails. Then user makes one purchase on day 4 and the other on the day 12.
In this case the first purchase of the user (on day 4) is closer to the Campaign B, which was sent on day 3 comparing to the Campaign A sent on day 1. Due to that the revenue from this purchase will be counted only for the Campaign B "Revenue" column.
The second purchase is done on the day 12, which is more than 7 days away from both Campaign A and Campaign B. This event occurrence is not taken into calculations for these email campaigns.