◆ Executive Insights — What This Attribution Analysis Reveals
Single-Touch Dominates Volume; Multi-Touch Drives Value
68.7% of conversions (178 of 259) are single-touch — Last Click captures these accurately. The remaining 31.3% involve 2+ campaigns. Customers who interact with 3 ads generate 21.9% of revenue from just 8.1% of conversions — a revenue-per-conversion rate 2.7× higher than single-touch buyers.
Last Click Understates Account Revenue by 2.1×
Last Click reports total revenue at £162,311. Attribution analysis identifies £335,468 in total campaign influence — a £173,157 gap. Retargeting alone accounts for £132,989 in assisted revenue that does not appear in any standard Google Ads report.
Fast Buyers Are the Majority; High-Value Buyers Take Longer
68.7% of customers convert within 24 hours, generating £47,272 (35.2% of revenue). Customers who take 12+ days represent 8.9% of conversions but 15.8% of revenue — a revenue-per-conversion rate 2.3× higher than same-day buyers. Retargeting window length directly determines whether this segment is captured.
Revenue Concentrated Across a Three-Campaign Funnel
93% of attributed revenue traces to three campaigns: Retargeting (£245,468 true influence), Sales-PMax (£70,469), Flawless Shopping (£20,101). The funnel is sequential. Disrupting any tier reduces the others’ effectiveness — with a measurable 2–4 week lag before impact appears in reported conversions.
✦ Direct Answers to 4 Key Questions — Beyond Last-Click Reporting
Which campaign acquires new customers?
Flawless Shopping
55 assists vs 26 closes — Introducer role. Introduces 2.12 new customers per close.
Which campaign assists conversions?
Sales-PMax
70 closes + 70 assists — perfectly balanced mid-funnel. Controls the middle step of the customer journey.
Which campaign closes deals?
Retargeting
63.45 primary conversions, £112,479 direct revenue. 23× Offline Invoice + 6.19× Website Purchase.
Is Retargeting spend justified?
Yes — 58× ROAS
£4,233 spend drives £245,468 total influence. Direct £112K + Assisted £133K.
Enter Google Ads data for custom date range
Go to Google Ads → set your date range → copy the totals from the Campaigns view summary row:
ℹ Attribution analysis always reflects 28-day data — the minimum for statistically reliable multi-touch results.
★
KPI Overview — Attribution Metrics (28-Day Window)
Two conversion counts explained: 105.68 = primary purchase goals (Google Ads standard “Conversions” column). 259 = all tracked interaction types including appointments, WhatsApp, and checkout signals, used in the attribution analysis to understand each campaign’s full funnel role. Both are correct for their purpose.
Avg. Days to Purchase
3.7
From first ad to conversion
Avg. Ad Interactions
2.2
Touchpoints before converting
Same-Day Conversions
68.7%
Convert within 24 hours
Highest True ROAS
58×
Retargeting — attribution-adjusted
Retargeting True Influence
£245,468
£112K direct + £133K assisted
MTA Revenue Uplift
+118%
More value revealed vs Last Click
1
Campaign Role Intelligence — Introducer / Assist / Closer
Business Question
Which campaigns introduce, assist, and close conversions — and what does each campaign’s role mean for budget decisions?
Role determined by Assist Ratio (assists ÷ last-click conversions). Pure Introducer: zero last-click, top-of-funnel only. Introducer (>1.5): more assists than closes. Assist (0.5–1.5): balanced mid-funnel. Closer (<0.5): predominantly bottom-of-funnel.
| Campaign | Role | Last-Click Conv | Last-Click Revenue | Assists | Assisted Revenue | Assist Ratio | Strategic Meaning |
|---|
| Pmax GMB Manchester | Pure Introducer | 0 | £0 | 6 | £0 | ∞ | Awareness only — never closes alone |
| Standard Shopping | Pure Introducer | 0 | £0 | 1 | £0 | ∞ | Awareness campaign only |
| Flawless - Shopping | Introducer | 26 | £6,051 | 55 | £14,050 | 2.12 | Introduces 2× more customers than it closes — critical discovery campaign |
| Retargeting | ★ Revenue Closer | 138 | £112,479 | 155 | £132,989 | 1.12 | TOP revenue campaign — closes AND assists equally. True ROAS = 58× |
| Sales-PMax | Assist | 70 | £41,648 | 70 | £28,821 | 1.00 | Perfectly balanced — equal closer and assist role |
| Jewellers London | Assist | 4 | £0 | 3 | £0 | 0.75 | Slightly more closing than assisting |
| Engagement-Rings-Hatton | Assist | 4 | £0 | 4 | £0 | 1.00 | Balanced mid-funnel role |
| Hatton Garden Updated | Closer | 5 | £2 | 2 | £1 | 0.40 | Primarily closes conversions |
| Hatton Garden Mobile | Closer | 9 | £0 | 1 | £0 | 0.11 | Almost purely bottom-funnel closer |
| Manchester Mobile CPC | Closer | 1 | £0 | 0 | £0 | 0.00 | Pure closer, no assist activity |
Assist Ratio by Campaign
Assists per last-click conversion. Higher = more top-of-funnel impact. Purple = Introducer, Blue = Assist, Green = Closer.
Finding: Flawless Shopping’s assist ratio is 2.12 — 55 customer introductions for 26 last-click conversions, the highest introducer ratio in the account. Pmax GMB Manchester records 6 assists and zero last-click conversions across 28 days.
Why it matters: In Last Click reporting, Shopping contributes £6,051. Its measurable role is to seed Retargeting and PMax with audiences that convert at higher order values — a function that does not appear in any standard report.
Business implication: A budget cut to Shopping based on last-click volume would reduce Retargeting’s convertible audience within 2–3 weeks — visible as a conversion decline in the closer campaigns, not in Shopping itself.
2
Attribution Model Comparison — 5 Models Side-by-Side
Business Question
How does attribution credit shift across models — and which campaigns are systematically undervalued by Google’s Last Click default?
First Click: 100% credit to first ad. Last Click: 100% to last ad (Google default). Linear: equal share. Time Decay: more credit near conversion. Position Based: 40% first / 20% middle / 40% last. (Non-DDA models calculated from path/assist data — Google deprecated them in 2024)
| Campaign | Ad Spend | First Click | Last Click | Linear | Time Decay | Position Based | Data-Driven | Key Difference |
|---|
| Retargeting | £4,233 | 137 | 138 | 136 | 137 | 138 | 212 | DDA +74 vs Last Click (+54%) |
| Sales-PMax | £6,945 | 66 | 70 | 65 | 69 | 68 | 0 | DDA = 0 (PMax DDA not in API) |
| Flawless Shopping | £1,274 | 35 ▲ | 25 | 38 | 30 | 31 | 23.5 | First Click +40% vs Last Click |
| Hatton Garden Mobile | £2,324 | 6 | 9 | 5 | 8 | 8 | 9.5 | Consistent closer across all models |
| Hatton Garden Updated | £2,325 | 4 | 5 | 3 | 4 | 5 | 5 | Stable across all models |
| Pmax GMB Manchester | — | 2 ▲ | 0 | 3 | 1 | 1 | 0 | Invisible in Last Click, visible in First Click |
| TOTAL | £19,631 | 259 | 259 | 259 | 259 | 259 | ~259 | |
Attribution Model Comparison — Top 4 Campaigns
How credited conversions change between models for the highest-volume campaigns
Reading the First vs Last Click Gap
The delta between First Click and Last Click credit quantifies how much a campaign is undervalued in standard reporting. Flawless Shopping’s +40% gap (35 vs 25) is the cost of a last-click budget decision on a discovery campaign. Pmax GMB Manchester’s gap is infinite — 2 First Click conversions vs 0 Last Click.
Where Last Click Fails This Account
Three campaigns — Shopping, Pmax GMB Manchester, and Engagement-Rings-Hatton — show meaningful First Click or assist activity while appearing weak or invisible in Last Click. Standard reporting would flag all three as underperforming. Attribution analysis shows all three are contributing to journeys that Retargeting closes.
Recommended Action
Switch all conversion actions to Data-Driven Attribution in Google Ads. DDA assigned Retargeting 212 conversions vs 138 in Last Click — a 54% uplift. This is the signal Smart Bidding requires to allocate budget accurately across the full funnel, not just for campaigns that happen to receive the last click.
Finding: Flawless Shopping receives 35 conversions under First Click vs 25 under Last Click (+40%). Pmax GMB Manchester receives 2 First Click conversions and 0 Last Click — entirely absent from standard reporting. Data-Driven Attribution assigns Retargeting 212 conversions vs 138 in Last Click (+54%).
Why it matters: The First Click vs Last Click delta is the most reliable indicator of campaigns that standard reporting systematically misvalues. All three cases above represent budget risk if decisions are made from the Campaigns view alone.
Business implication: Data-Driven Attribution gives Smart Bidding the correct signal across all touchpoints. Until DDA is applied account-wide, automated bidding is optimising for closers only — not for the full journey that produces conversions.
3
Multi-Touch vs Last Click — The Attribution Gap
Business Question
How much campaign revenue influence is hidden by Last Click attribution — and which campaigns are most understated?
Attribution-Adjusted ROAS = (Last-Click Revenue + Assisted Revenue) ÷ Ad Spend. The gap between this figure and standard Last Click ROAS is the cost of the attribution blind spot for each campaign.
Standard Last-Click View
26.6×
Retargeting ROAS
What Google Ads reports show by default
Shopping Last-Click ROAS
4.75×
→
Multi-Touch
Attribution
Reveals
Attribution-Adjusted View
58×
Retargeting True ROAS
Including £132,989 in assisted revenue influence
Shopping Attribution-Adjusted ROAS
15.8×
Ad Spend (28 days)
£4,233
Retargeting budget spent
Last-Click Revenue
£112,479
What standard reports show
Assisted Revenue
£132,989
155 assists — hidden in standard report
TRUE Total Influence
£245,468
293 conversion paths touched
True ROAS
58×
£245,468 ÷ £4,233
Last-Click vs True Revenue Influence — All Campaigns
Blue = last-click revenue only. Gold = total revenue influence (direct + assisted combined)
| Campaign | Ad Spend | Last-Click Revenue | Assisted Revenue | True Revenue Influence | Uplift vs Last Click |
|---|
| Retargeting | £4,233 | £112,479 | £132,989 | £245,468 | +118% more than shown |
| Sales-PMax | £6,945 | £41,648 | £28,821 | £70,469 | +69% more than shown |
| Flawless Shopping | £1,274 | £6,051 | £14,050 | £20,101 | +232% more than shown |
| Hatton Garden Updated | £2,325 | £5,472 | £1 | £5,473 | Minimal assist activity |
| Hatton Garden Mobile | £2,324 | £0 | £0 | £0 | Revenue not tracked (appointments only) |
Finding: Retargeting’s £132,989 in assisted revenue — 54% of its total £245,468 influence — is entirely absent from standard Google Ads reports. Flawless Shopping’s last-click figure (£6,051) represents 30% of its true £20,101 revenue influence. Sales-PMax shows a 69% gap (£41,648 reported vs £70,469 true).
Why it matters: Last Click systematically undervalues campaigns that assist — and transfers their credit to campaigns that receive the final click. The larger a campaign’s Assist Ratio, the larger the understatement in standard reporting.
Business implication: Any budget decision based on last-click ROAS will underfund Retargeting and Shopping while appearing to optimise. The three most undervalued campaigns by Last Click are the same three that form the primary customer acquisition funnel.
4
Customer Journey Behaviour — Time and Touchpoints
Business Question
How long do customers take to convert, how many ad interactions do they require — and does journey length correlate with order value?
Two dimensions of the same customer journey, analysed independently. Time to purchase shows whether retargeting windows are correctly sized. Path length shows whether customers are seeing enough of the campaign mix before converting.
Time to Purchase — Days from First Ad to Conversion
Conversions by Days to Purchase
Number of conversions per time lag bucket
Revenue (£) by Days to Purchase
Revenue value associated with each time lag bucket
| Days to Conversion | Conversions | % of Conv. | Revenue (£) | % of Revenue | Buyer Profile |
|---|
| <1 day | 178 | 68.7% | £47,272 | 35.2% | Fast buyer — likely retargeting |
| 1 day | 15 | 5.8% | £10,412 | 7.8% | Quick decision, next day |
| 2 days | 9 | 3.5% | £5,846 | 4.4% | |
| 3 days | 6 | 2.3% | £25,320 | 18.9% | High-value deliberate buyers |
| 4–6 days | 16 | 6.2% | £8,590 | 6.4% | |
| 7–11 days | 12 | 4.6% | £15,440 | 11.5% | Long consideration, premium spend |
| 12+ days | 23 | 8.9% | £21,238 | 15.8% | Research buyers — highest AOV |
Interaction Depth — Ad Touchpoints Before Conversion
Conversions by Number of Ad Interactions
How many ads customers saw before buying
Revenue (£) by Path Length
Revenue generated by customers with N ad interactions
Finding: Same-day buyers (68.7% of volume) generate £47,272 — an average of £266 per conversion. Customers who take 3 days generate £25,320 from 6 conversions (£4,220 average). Customers with 12+ day journeys generate £21,238 from 23 conversions (£923 average). Journey length and order value are positively correlated.
Why it matters: The highest-AOV customer segment (3-day buyers at £4,220 average) requires a minimum 3-day retargeting window to capture. The 12+ day segment requires a 30-day window. Both are currently at risk if retargeting is set to a short attribution window or frequency-capped aggressively.
Business implication: Set retargeting windows to 30 days. Customers who convert at the highest order values take 3–14 days on average — a retargeting window shorter than this systematically misses the most valuable segment in the account.
5
Most Common Conversion Paths
Business Question
Which campaign sequences are customers following before converting — and where does Google’s privacy threshold hide the most valuable paths?
Each chip represents one campaign touchpoint in sequence. Paths with fewer than 10 conversions each are aggregated into “Other paths” by Google’s privacy threshold — this bucket typically contains the most strategically relevant cross-campaign journeys. (31 May – 27 Jun 2026)
Top Conversion Paths by Volume
Named paths only — 119 conversions (£92,227) in “Other paths” are privacy-filtered by Google (fewer than 10 conversions per path)
| Rank | Conversion Path (Campaign Sequence) | Conversions | Revenue (£) | Path Type |
|---|
| 1 | Retargeting | 62 | £41,888 | Single Touch |
| 2 | Sales-PMax (12 May 2023) | 35 | £0 tracked | Single Touch |
| 3 | Flawless - Shopping | 12 | £1 | Single Touch |
| 4 | Hatton Garden Mobile | 9 | £0 tracked | Single Touch |
| 5 | Flawless - Shopping→Flawless - Shopping | 5 | £0 | 2-Touch Same |
| 6 | Hatton Garden Updated | 4 | £1 | Single Touch |
| 7 | Jewellers London→Jewellers London | 2 | £0 | 2-Touch Same |
| 8 | Shopping→Shopping→Shopping | 2 | £0 | 3-Touch Same |
| Privacy | Other paths (Google hides paths with ≤10 conversions each) | 119 | £92,227 | Multi-Campaign |
Finding: 119 conversions totalling £92,227 sit in the “Other paths” bucket. All visible named paths are single-campaign. Every cross-campaign path — Shopping → Retargeting, PMax → Retargeting — falls below Google’s 10-conversion privacy threshold and is therefore hidden.
Why it matters: The paths that most clearly demonstrate funnel sequencing are exactly the ones Google cannot report individually. The £92,227 in hidden paths is not low-value traffic — it is the population whose journeys span multiple campaigns and whose order values tend to be higher.
Business implication: The assist and role data in Sections 1 and 3 provides the only available proxy for understanding these hidden paths. Single-campaign path visibility is a reporting artefact, not evidence that customers are converting without multi-campaign exposure.
7
Conversion Type Breakdown — What Each Campaign Converts
Business Question
Which conversion types does each campaign drive — and why do campaigns reporting £0 revenue still represent real business value?
Conversions categorised into 3 tiers: Tier 1 = Direct Revenue (Offline Invoice + Website Purchase). Tier 2 = Appointment Pipeline (Appointments + Contact Form) — assigned £0 in Google Ads but feeds Offline Invoice revenue. Tier 3 = Engagement Signals (WhatsApp + Checkout) — early-funnel intent indicators.
Retargeting — Tier 1
£112,480
23× Offline Invoice + 6.19× Website
Sales-PMax — Tier 1
£41,648
6× Offline Invoice + 3.73× Website
Hatton Garden Updated — Tier 1
£5,472
2× Offline Invoice Purchase
Engagement-Rings-Hatton — Tier 1
£2,712
1× Website Purchase
Revenue (Tier 1) vs Appointments (Tier 2) vs Engagement (Tier 3)
Stacked by campaign — darker = more strategic value
Offline Invoice Breakdown — Who Drives High-Value Sales?
Avg £4,200/sale (£130,212 ÷ 31 invoices) — most strategic conversion type
| Campaign | Role | Tier 1: Revenue Conversions | Revenue £ | Tier 2: Appointments / Pipeline | Tier 3: Engagement |
|---|
| Retargeting | Closer | 23× Offline Invoice + 6.19× Website | £112,480 | 69 London In-Store, 13 Manchester, 7 Virtual, 5 Contact Form | 32× WhatsApp, 50× Checkout |
| Sales-PMax | Assist | 6× Offline Invoice + 3.73× Website | £41,648 | 30 London In-Store, 4 Manchester, 2 Virtual, 9 Contact Form | 40× WhatsApp, 80× Checkout |
| Hatton Garden Updated | Closer | 2× Offline Invoice | £5,472 | 2 London In-Store, 1 Ring Builder In-Store, 3 Contact Form | 1× WhatsApp |
| Engagement-Rings-Hatton | Assist | 1× Website Purchase | £2,712 | 2 London In-Store, 2 Contact Form | 2× WhatsApp, 1× Checkout |
| Flawless - Shopping | Introducer | NONE — £0 direct | £0 | 6 London In-Store, 1 Manchester → feeds Retargeting | 10.5× WhatsApp, 14× Checkout |
| Hatton Garden Mobile | Closer | NONE — £0 direct | £0 | 2 London In-Store, 2 Virtual → offline not tracked | 8× WhatsApp, 6× Checkout |
Finding: 99.8% of reported revenue (£162,312) comes from two conversion types: Offline Invoice (£125,742, 77.5%) and Website Purchase (£31,700, 19.5%). All appointment, WhatsApp, and checkout conversions carry £0 assigned value in Google Ads — yet they represent the intermediate steps that produce those invoices.
Why it matters: Flawless Shopping and Hatton Garden Mobile report £0 direct revenue. Both generate appointment pipeline volume. Their apparent zero-revenue status is a measurement gap, not a performance gap — the revenue they seed shows up in Retargeting’s Offline Invoice column.
Business implication: Smart Bidding is currently optimising for Offline Invoice and Website Purchase only. Campaigns generating appointment volume receive no bidding signal. Assigning conversion values to appointments would immediately change how automated bidding allocates budget across campaign tiers.
8
Appointment Pipeline Value — The Hidden Source of Offline Revenue
Business Question
What is the calculable expected value of each appointment booking — and how does this change the apparent ROAS of campaigns currently reporting zero revenue?
Expected appointment value is calculated from account-level data: (offline invoices ÷ tracked appointments) × average invoice value. This figure can be imported into Google Ads as a conversion value to give Smart Bidding an accurate signal for pipeline-generating campaigns.
Total Offline Invoices
31
23 Retargeting + 6 Sales-PMax + 2 Hatton Garden Updated
Tracked Appointments
~127
91 Retargeting + 36 Sales-PMax booking appointments
Appointment → Offline Sale Rate
24%
31 offline invoices ÷ 127 tracked appointments
Avg Offline Invoice Value
£4,200
(£94,610 + £30,130 + £5,472) ÷ 31 total invoices
Expected Value Per Appointment
£1,008
24% conversion rate × £4,200 avg invoice
| Campaign | Appointments Booked | Captured Revenue | Hidden Pipeline Value | Total True Value | Ad Spend | True ROAS |
|---|
| Retargeting | 91 appts | £112,480 direct | Already closing | £112,480+ | £4,233 | 26.6× |
| Sales-PMax | 36 appts | £41,648 direct | Already closing | £41,648+ | £6,945 | 6.0× |
| Flawless - Shopping | 7 appts | £0 direct | 7 × £1,008 = £7,056 | ~£7,056 | £1,277 | ~5.5× |
| Hatton Garden Mobile | 4 appts | £0 direct | 4 × £1,008 = £4,032 | ~£4,032 | £2,324 | ~1.7× |
| Hatton Garden Updated | 7 pipeline | £5,472 (2× offline) | 5 more × £1,008 = £5,040 | ~£10,512 | £2,325 | ~4.5× |
Appointment Types by Campaign — Where Are Bookings Coming From?
London In-Store, Manchester, Virtual, Ring Builder appointments — all feed the Offline Invoice revenue pipeline
Finding: 31 offline invoices from 127 tracked appointments = 24% close rate at £4,200 average invoice value. Each appointment carries £1,008 expected value. Flawless Shopping generated 7 appointments (£7,056 implied value on £1,274 spend = ~5.5× implied ROAS). Hatton Garden Mobile generated 4 appointments (£4,032 on £2,324 = ~1.7×).
Why it matters: Both campaigns report £0 revenue in Google Ads. Their actual contribution is measurable from the account’s own offline conversion data — not estimated. The 24% close rate and £4,200 average are derived from the same 28-day dataset.
Business implication: Import £1,008 as the conversion value for appointment actions in Google Ads settings. This single change gives Smart Bidding accurate signals for Shopping and Hatton Garden Mobile — campaigns currently treated as non-revenue generating by all automated bidding strategies.
9
Full Journey Map — Total Campaign Touchpoints (Last-Click + Assists)
Business Question
What is each campaign’s total footprint across all conversion paths — and does path presence correlate with spend share?
Total appearances across all conversion paths, regardless of position (first, middle, or last click). A campaign’s path footprint relative to its spend share indicates its efficiency as a touchpoint — independent of whether it receives last-click credit.
Total Campaign Touches (Last-Click + Assists Combined)
How many times each campaign appeared in any position of a conversion path
Finding: Retargeting accounts for 293 of 557 total path appearances (52.6%) on £4,233 spend (27% of total budget). Flawless Shopping accounts for 81 appearances (14.5%) on £1,274 spend (8.2% of budget) — the highest path-footprint-to-spend ratio in the account. The top 3 campaigns account for 92.3% of all path appearances.
Why it matters: Shopping generates 1.76× its proportionate share of path appearances relative to spend. This efficiency ratio is not visible in last-click or ROAS reporting — it only appears when total path presence is measured.
Business implication: The funnel operates as a closed system. Retargeting’s 293 touches require a continuously refreshed audience from Shopping and PMax. Reducing top-funnel spend reduces Retargeting’s available audience — and its conversion volume — within a measurable 2–4 week lag.
◆ Methodology & Three Principles That Apply to Any Google Ads Account
How This Report Was Built
Data source: Google Ads Attribution Report (BigQuery: flawlessfine-ga4.attribution_results). Campaign roles determined by Assist Ratio (assists ÷ last-click conversions). Attribution-Adjusted ROAS = (Last-Click Revenue + Assisted Revenue) ÷ Ad Spend. Appointment value (£1,008) derived from account-level offline conversion rate (24%) and average invoice value (£4,200) within the same 28-day window.
Three Principles That Transfer to Any Account
1. The Assist Ratio identifies budget risk. Any campaign with an assist ratio above 1.0 is more valuable than its last-click conversions suggest. Cutting it reduces closers’ performance within weeks.
2. First Click vs Last Click delta = undervaluation gap. The larger the gap, the greater the cost of last-click budget decisions.
3. Appointment value must be assigned. Any account with offline sales and unvalued pipeline conversions is giving Smart Bidding incomplete data.
Data Constraints & Interpretation Notes
A minimum 28-day window is required for statistically meaningful multi-touch data. Conversion paths with fewer than 10 conversions per path are anonymised by Google — the “Other paths” bucket is a privacy constraint, not a data gap. Attribution Report data includes all conversion types; the primary “Conversions” column in Google Ads reflects purchase-goal tracking only (105.68 vs 259 total interactions).