I'll start by pointing out that we're looking for statistical significance, not accuracy or volume. Wicked Reports is not meant to be an accounting system or a way to calculate sales commissions. We utilize revenue as a signal amplifier. As such, there are certain attribution models under which we will appear to "over-report" revenue to reveal how specific campaigns or ads are contributing to different customer journey points.
We exist to show you which ads are making money and which aren't at various points of the customer journey so you can see which marketing activities drive revenue, discover where the best leads come from, and stop spending on ads that don’t work.
Note: Statistical significance is determined by sales volume and total attribution. Attribution is performed by proprietary algorithms and relies solely on first-party data and tracking.
I'll also point out that accuracy is relative to what you're measuring. For example, our numbers won't match Facebook's or Google's attribution (nor should they) because we're measuring completely different things for completely different reasons to completely different ends.
The accuracy of Wicked's reporting depends on our ability to match contacts and orders, by email, to tracked digital marketing events such as ad, email, or other tracked clicks - including our custom click events.
That said, our accuracy is the result of the accuracy, quality, and completeness of the underlying data.
In the case of your CRM (contact source) and shopping cart (order source) we are either interfacing directly with those systems in the case of any of our native integrations, or we are receiving the data from those systems via some other means.
From your Contact Source, we must be receive accurate contact create dates and email addresses. From your Order Source we must receive the order date and time stamps, customer email address, and accurate and properly formatted order information.
With respect to tracking data, the two factors impacting the quality and completeness of your data are the deployment of tracking UTMs and our tracking widget or pixel.
Proper UTMs following our recommended naming convention should be deployed on all paid, social, email, and back-links. We try to make this as easy as possible for you by providing an auto-tracking tool for your Facebook ads, an account level tracking template for Adwords, and a link builder tool for your email and social media links.
Your tracking widget or pixel must be deployed on every landing page, optin form, and order form in your marketing funnel to capture such traffic and must not be prevented from capturing traffic by blockers, iFrames, URL shortners, or redirects that could strip or interfere with the detection of UTM tracking parameters.
With perfect deployment of UTMs and tracking code with nothing interfering in collection, and perfect data from your CRM and Order Source, the accuracy of our reporting will also be perfect - with the exception of the occasional bug, which we will absolutely fix for you.
The final point I'll make regarding volume of attributed revenue is that looking at almost 250,000 orders over the past 30 days, we see about 47% have revenue eligible for *some* attribution. Depending on your business model anything over 25 to 30% attribution of total revenue could be considered perfectly healthy. In addition to the configuration and data quality issues mentioned previously in this article, a high ratio of organic or direct traffic, traffic from sources that cannot be tracked, or subscriptions and orders pre-Wicked are among the reasons not all revenue can or will be attributed even for well configured accounts.. Of course we'll work with you to get that number as high as possible, but "perfect" attribution is not required to produce statistically significant results.