Overview
Participation Rate is the percentage of your active customer base that is advocating in a given period. A high Participation Rate means that more people are aware of and motivated by your programs. It is an indicator of the effectiveness of your marketing strategy.
Calculating Participation Rate
Participation Rate = (advocates/customers) * 100
Advocates: the number of unique people that have advocated on your behalf (e.g. the user has shared, dropped a hint, left a rating or a review, etc.).
Customers: the total number of unique people who have become a customer (both referral and non-referral). This is a proxy for the total potential reach of your advocacy efforts. In your program, the desired activity may be a download, a new account opened, a purchase, or a registration. We only count each person once, so if they have multiple purchases, this will not affect your Participation Rate.
Another way you can think about this is that for every 100 people who have purchased (both referral and non-referral), 10 are going on to advocate (10% Participation Rate).
How to Run the Report
Select a time range: Choose from predefined options such as Last Day, Last Week, or Last Month, or specify a custom range.
Choose the program: Select a specific program or choose all programs to include all programs in the report.
Choose the period: Select a specific period if you'd like a breakdown by day, week or month
Optional - Update the Customer Step: Select an event from the drop down if you'd specifically like to look at this rate as a percentage of a different event you are sending to Extole. By default, it should pull the event that a referred friend becomes a customer, which may be different than the rewardable event.
If the data returns as 100% or looks incorrect, contact your CSM to review how the Customer and Transacted aliases are implemented and whether you are sending all events to Extole.
Report Output
The data in this report includes a visualization. The height of each bar represents the Participation Rate for the selected period. To the right of the graph, you'll see the Participation Rate of the current period and an average of your Participation Rate.
Downloading the raw data from within My Extole, you'll see the following columns:
Period start time: This is the start time of the data in a given week.
Period end time: This is the end time of the data in a given week.
Period: This is how the data in your report is grouped. In this case, by week.
Advocates: This is how many unique people advocated in a given week.
Customers: This is the total number of unique people who have become customers in the given period. Again, "customer" is dependent on your program flow. Common "customer" events include conversions, accounts opened, and subscription started. This metric counts all people who have become a customer, whether from referral or non-referral.
Participation Rate: This is the Participation Rate of the period
Looking to schedule this report so that it runs automatically? You can read more about scheduling reports here.