LTV tracking is a way of seeing the average long term value of your leads depending on the source they come from. Please take in mind this guide specifically covers the LTV attribution mode in the standard reports and not the LTV mode inside the Sales/LTV tab, which allows you to view the overall LTV of a specific group of leads instead. For more information on that see THIS GUIDE.
First Seen tracking is a way of seeing the results of clicks from specific dates over time. These are best used to see the LONG TERM ROI on ad spend over time.
How LTV Mode Works
LTV mode will calculate the average value for your leads coming from a particular source over the selected timeframe.
For example, if you choose to calculate the LTV for a 6 month period, Hyros will calculate the average value of every lead coming from each of your sources over that length of time. It will then by default group these into traffic sources.
You will also be able to see your total leads (how many email events were tracked by hyros within the selected time frame) and total sales (how many purchased were made by a lead within the selected time frame).
At the top of the report, you will see a visual graph where you can view the LTV for your top 5 results.
All of this allows you to answer questions such as:
“how much do my leads spend on average from X traffic source over a certain time frame?” and
“how much should I be spending on my leads to make a profit in the long term?”
Want to dig deeper? When loading the report, just select “show advanced options” below. This will allow you to group your results in different ways, and filter leads in more detail to answer different questions.
For example, if you wanted to find out the average LTV from customers who interacted with a specific opt in only, you could add a specific tag for users who opt in on that page and then insert that tag in the “tags” field. This will take into account all leads who have that tag ONLY when calculating the LTV. This type of filtering allows you to look at your LTV more granularly to answer more specific questions.
For more information on specific report filters, please see THIS GUIDE.
How First Seen Tracking Works
First seen tracking works by taking all the customers that were FIRST SEEN during the time period you select on the REPORT BOARD
For example if set the dates to Feb 1st to Feb 15th last seen would collect all the customers that entered your business during that time frame.
It will then organize them by source.
So for example if a customer clicked @facebookad1 on Feb 3rd and it was their first tracked interaction they would be credited to @facebook1 on the REPORT BOARD.
HOWEVER : If they clicked BEFORE or AFTER Feb 15th they would not be factored in on this board.
Next : First Seen mode will attribute ALL sales from these users to the current date and attribute the sales to the original source.
This allows you to answer a question like :
“I spent $20k on ads in January, 8 months ago. How much more money have the customers from those ads spent over the last 8 months?”
If you find this confusing use the video demostration below.
Watch Me Demostrate Using First Seen and LTV Tracking Below