Last week, Google launched an awesome new analytics tool. Based on pulling data from 36,000 of Google’s largest advertisers, Google is now able to provide quality insights about the buying patterns of consumers in your target industry.
According to an article on Marketing Land, Google uses data from both e-commerce and multichannel funnels in order to create the benchmark data for this tool. Based on this benchmark information, Google displays how long it takes consumers to buy and how they move towards their purchase.
This tool is a great way to understand the purchase patterns of your customers before you start throwing money at an experimental marketing campaign. Here are just a few of the insights you will glean from using this tool:
- Learn how purchase patterns differ from industry to industry
- Compare data across 11 of the top industries
- Gain quality insight about your paid search campaigns
- Understand the correlation between the time it takes to make a purchase and the purchase value
- Compare your data with the industry benchmark data provided
- Understand how different channels influence conversions
If you’re not sold yet, check out the tool for yourself.