Lift Reports Flashcards
What are Lift Reports?
Lift Reports measure an action’s or property’s incremental impact on a conversion rate.
What does ‘incremental’ mean in the context of Lift Reports?
‘Incremental’ means that the conversion wouldn’t have happened without the action. While it’s impossible to know this definitively, measuring lift over a large audience can approximate true incrementality.
How is lift calculated?
Lift is calculated as (conversion rate with action - conversion rate without action) / conversion rate without action. For example, if conversion rates are 20% with an ad click and 10% without, the lift is (20-10)/10 = 1x.
What is an example of calculating ROAS in a Lift Report?
If there are 100 ad clicks with $1000 in spend leading to $3000 revenue, ROAS is 3x. Increasing spend to $2000 predicts $3k additional revenue. Without spending more, lift predicts $1.5k additional revenue.
What happens if lift is reduced to 0 in a Lift Report?
If lift is reduced to 0, it means the action has no impact, and additional investment in ads or alternative traffic sources will generate the same revenue.
What is a Cohort in a Lift Report?
A Cohort is a group of individuals or companies who have done a certain action or possess a certain property being measured for lift.
What is an Anti-Cohort in a Lift Report?
An Anti-Cohort is a group of individuals or companies who have NOT done a certain action or do not possess the property being measured for lift.
How do you create cohorts and anti-cohorts in a Lift Report?
Cohorts and anti-cohorts can be created using goals, properties, or segments.
What happens when you select a goal in a Lift Report?
When a goal is selected, cohorts are based on performing the goal vs. not performing it during the journey to conversion. Multiple goals can be selected for side-by-side comparison.
What happens when you select a property in a Lift Report?
When a property is selected, all values of the property create separate cohorts and anti-cohorts. For example, selecting UTM Source calculates lift for each source.
What happens when you select a segment in a Lift Report?
When a segment is selected, the cohort includes everyone in the segment, and the anti-cohort includes everyone outside the segment.
What does the Data field in a Lift Report measure?
The Data field measures the conversion rate for both the cohort and anti-cohort.
What are best practices for using Lift Reports?
Best practices include ensuring cohorts and anti-cohorts are of significant size, conversion actions are performed by enough entities, and conversion rates are similar for accuracy.
What insights can Lift Reports provide?
Lift Reports provide insights on where to allocate budget and the best stages in the customer journey to introduce specific touchpoints.
What is an example of using a Lift Report in a buyer journey?
Example: For a journey Website Visit –> MQL –> SQL –> Closed Won, lift reports can guide investment in top-of-funnel SEO, bottom-of-funnel ads, or sales team strategies, depending on where lift is positive.
