You market your website to attract users on your site that you can convert into customers. The overall principle is that as long as it is cheaper to get a new customer via marketing than the customer is worth to you, then you should scale up on your marketing activities.
How to use this feature?
The marketing recommendations allow you the ideal division of marketing efforts based on your current use of marketing platforms. This gives you an overview of your options and enables you to evaluate if they are worth the effort.
The system looks at how your users behaved in the past and identified a target group, that has a high conversion rate. In other words, your most optimal target group, because it is big and contains users that did convert to your Action Goal.
You can use this information for two things. Firstly, you can evaluate if it is worth following the recommendations or not. It can be used as a baseline for a return on investment (ROI) evaluation of your marketing activity. Are they worth it?
Secondly, you can use it to benchmark against different ways of getting traffic to your site. Compare the actions with your similar social media actions and see if the ROI on that activity is better.
How do we know this?
Canecto uses a methodology called Predictive Analytics to identify your most ideal target group. The system scans through all the possible sub-segments of your converting users. The system looks for large segments with a high conversion rate.
The identified target group contains high-quality users in the segment that has a high chance of converting.
It sounds simple, but in reality, it means that thousands of different combinations are identified and compared against each other. The complexity of the findings processes will never be possible for any human to be able to reach the same result with the same speed and accuracy.
More Web Analytics areas
Know more on how other web analytics areas can grow your online business.
Growth Report Recommendations
Learn to use the Growth Report to take the actions that grows your website the most.