Introducing Digital Impact - helping our clients measure the impact of digital activity
As any successful agency will testify to, we live and die by the results we create for our clients. At Fresh Egg our mission is to uncover client challenges and transform them into digital success. In order to ensure we truly live by our mission, the results we report on must be supported by evidence and concrete metrics rather than hypothesis and caveats.
Delivering an accessible solution to complex modelling and reporting with Digital Impact
Along with campaign effectiveness and accurate forecasting, delivering reliable return on investment (ROI) metrics for our clients is essential. Although an incredibly powerful tool, using Google Analytics alone for reporting on ROI is not enough. We need to be able to show reliable, robust and real-time ROI evidence. Access to this level of insight is a benefit for any marketer surely, but one that can come at a cost. Our clients' budgets don't always stretch to what's on offer by tech giants. It was this core need that sparked the development of our proprietary tool, Digital Impact.
We had a clear vision for Digital Impact before we set about developing it. The Digital Impact Tool needed:
- to deliver accurate and statistically-focused reporting for onsite SEO and any other digital activity.
- to calculate ROI against our clients' digital marketing activity, including demonstrating the impact of specific events and interventions.
- to reliably forecast the impact of our actions based on past site engagement data.
- integrate with Google Analytics and other data sources (dynamic access to historical data, filters, metrics) and forecast future trends.
- accurately estimate causal effect using Google's CausalImpact.
- to be accessible to our entire client base.
How does Digital Impact work?
At its core, Digital Impact uses Google’s CausalImpact package to model and predict the effect of digital events or interventions, such as site migrations. It works by analysing a response and control series of data points, such as clicks or conversions and Digital Impact, then constructs a Bayesian structural time-series model which is used to predict the counterfactual. For example, how the response metric would have evolved after the intervention if the intervention had never occurred.
Data visualisation chart from Digital Impact
The outputs of Digital Impact, as illustrated above, shows:
- Was the event significant or not significant – statistically was the change significant, i.e. did the change result in a statistically significant increase in traffic? This is modelled on a 95% and above significance prediction.
- The increase or decrease over a period – evaluating the daily difference between the predicted and actual result means an estimated increase or decrease figure can be calculated.
- The revenue change – taking the average order value and conversion rate for the period the change was made. We can calculate a reliable ROI figure by taking the estimated additional sessions driven by the SEO change and calculating this figure against the average order value and site conversion rate.
- The percentage change – by evaluating the daily difference between the change and actual, an average percentage increase or decrease across the period can be calculated.
- The accuracy of the model with predicted (modelled) vs actual data mapped together before the date of event, providing an overall percentage of statistical significance and accuracy.
How we use Digital Impact at Fresh Egg?
Unsurprisingly, Digital Impact is now hard wired into our approach at Fresh Egg. By baking it into our decision matrixes, we have been able to build an approach that puts effectiveness at its core from the off.
The first and most important benefit is that we are delivering tangible results for our clients, with accurate and reliable forecasted and post campaign analysis and ROI figures. Big tick.
We regularly use Digital Impact in our planning and discovery process to prioritise our recommendations based on their estimated and projected return as Digital Impact gives us the insight and evidential data to create and better strategic output for clients. Another big tick.
Above all, Digital Impact has made complex econometric modelling accessible to our entire client base, thus delivering a sound level of data science and attribution and all delivered as part of our standard terms of service. One last big tick.
Activities we regularly measure using Digital Impact include:
- Whether changing page titles has increased sessions.
- The impact of a site migration on visibility.
- The impact of structured data on CTRs from Google.
- Whether enhancing a sites on and off-site content has increased sessions.
- The impact of TV and offline advertising on brand search volumes.
- The impact of page speed optimisation on user engagement.
Digital Impact has recently been receiving the recognition it deserves. Understandably, our clients absolutely love it as it allows us to plan, report and forecast with complete and utter confidence.
We were honoured earlier on in the year when Digital Impact was awarded the coveted Technical Innovation of the year at the 2018 Drum Search awards and it has also been shortlisted for Best use of emerging technologies in the 2018 Wirehive awards.
If you are curious about Digital Impact and have any questions at all about how it works, or how it could help you bring more accurate reporting to your digital activity, then do not hesitate in getting in touch and one of our team will be more than happy to help.