This article provides a comprehensive understanding of how Trends by Triple Whale functions as a benchmarking tool in the e-commerce sector, emphasizing its robust criteria and filtering mechanisms for accurate and useful data analysis.
Introduction
Trends by Triple Whale is a benchmarking tool specifically designed for the ecommerce industry. This tool offers valuable insights into advertising performance by analyzing data from various ad channels. The system's robust criteria and filtering ensure that users receive the most relevant and useful data for their specific needs.
In this article, we will delve into the inclusion criteria, cohort filtering, and setup process to understand how Trends by Triple Whale operates.
Inclusion Criteria
To ensure the reliability and relevance of data, Trends by Triple Whale applies the following inclusion criteria for each account on a daily basis:
Valid Currency Conversion: Accounts must have a valid currency conversion process in place.
Minimum Spend: There should be a minimum of $100 USD in ad spend.
Ad Channel Reported Revenue: Accounts must have at least $100 USD in conversion value as reported by the ad channels (Conversion Value).
Return on Ad Spend (ROAS): The ROAS must be less than 50.
Cohort Filtering
Cohort filtering in Trends by Triple Whale is based on different shop attributes, which were selected to empower marketers with insightful paid media KPIs, while also providing statistically significant cohort sample sizes. The filters include:
Industry: The tool categorizes 13 different industries\
Average Order Value (AOV): This is categorized into more than $100 USD or less than $100 USD, based on the average USD dollar amount of the last 90 days' orders.
Gross Merchandise Value (GMV): This is based on the last 365 days' USD annual revenue, categorized into less than $1M, $1M to $10M, and over $10M.
Setup and Operation
The setup and operation of Trends by Triple Whale involve several key components:
Ad Account Analysis: Every individual ad account is analyzed in relation to the associated Shopify Shop.
Account Requirements: Minimum account requirements are enforced. Data will not be shown for days with less than 20 accounts, a warning is issued for 20-50 accounts, and 50+ accounts are considered sufficient for significant data.
Lookback Window: There is a maximum lookback window of 90 days, with a comparison period of 180 days.
Data Lag: Data is always presented with a one-day lag, so the most recent data you can query is yesterday’s
Metric Calculation: Each cohort value is calculated by summing the component values and then dividing the aggregates. SUM(X) / SUM(Y)
Ad Platform Data: This only includes data from ad platforms ( Facebook, Google, TikTok, Bing, Pinterest, Amazon, Snapchat, Twitter) is considered, this doesn’t include any data from our Pixel or Shopify