This is a big topic but with one simple solution; Digital Playback.
Do you need to understand the impact of one channel upon another? And the best one to use for each individual customer? Digital Playback can help you make those decisions.
Digital Playback gives you clear accurate digital analytics measurement to assess the performance of all your marketing AND your sales effectiveness regardless of channel.
Digital Playback links all off- line and on-line customer behaviour into a series of highly visual dashboards informing your marketing investment decisions.
For example, our Business Performance Summary dashboard shows you the top line view of spend, visitor numbers and transactions etc , but also shows how traffic is reaching your site channel by channel. The line graph on the chart below shows the channel ranked by revenue where you can see peaks and troughs or trends which are worth investigating.
In this example, the mail peak coincides with an uplift in email, showing how the two channels are working together to improve overall response rates.
This clear view also lets you see the impact of testing very quickly. When a new offer or creative is trialled, you can quickly see the customer reaction enabling you to respond or tailor your campaigns, quickly.
However, imagine evaluating channel effectiveness by customer type. Understanding whether the revenue comes from customers who make repeat purchases frequently, haven’t purchased for a while or have browsed but not purchased for a significant time. These behaviours can change your engagement strategies and offer spend and are visible through Digital Playback.
We would expect that your loyal customers visit your website through either Direct or Natural search. However, our analysis has also shown some frequent purchasers coming through PPC. Enabling our clients to reduce their reliance on PPC by seeing how much web traffic they were already generating through direct traffic and natural search. Both a cost efficiency and an opportunity to divert funding into other comms.
Similarly, attributing a specific revenue value to social media investment can be difficult. However, we found that some long-term inactive customers were engaged with the brand on social media – which prompted a re-consideration of these customer’s interaction with a campaign and an improved strategy to demonstrate to these customers they were still valued by our client. Relevancy being a key driver of personalisation and engagement.
Multiple customer touchpoints tend to deliver more value and also support the customer journey. But the most efficient use of marketing budget depends on effective deployment and this requires being able to evaluate the attribution of each channel.
Convergence Attribution assesses the value of each channel comparing both actual attribution and last click. This helps to show which channel is attributable to the sale and which has ‘helped’ on the path to purchase. We often find that although last click attribution is given to natural search and PPC, the Direct channel has often contributed significantly to the path to purchase.
The value of sales channel attribution gives a direct comparison of the cost of that channel and the return on investment which can be seen in our Convergence Attribution dashboard. Investment in underperforming channels can be diverted to other more effective marketing, adding value and improving customer engagement and sales.
Personalisation improves generated revenue. So knowing who your customers are really counts. Product relevancy, demographic and lifestyle data support the development and presentation of the right content and message to appeal to customers and ensure your campaigns are more successful.
Decisions to invest social media is often based on the belief that customers value it and it drives engagement but marketers struggle to show a direct relationship to return on investment.
The data visualisation within Digital Playback, shows you the customers who are on your social media sites and, most importantly, how often the same customers actually buy even if this is through another channel, such as in-store. This form of attribution ascribes a value to your social media channels and informs the decision making around marketing investment channels.
Putting a return on investment value to a search term can also be difficult.
High cost search terms which generate lots of interest may not convert either on-line or offline sales returning a low ROI. Digital Playback is able to assess the value of the conversion of search terms, helping you decide your investment on search terms relative to their sales return. Terms which generate high click rating online when connected with offline data can show a different picture. Customers often search on line, doing their research and then go instore to purchase. Digital playback will show you the customer journey to sales by search term.
The honing of marketing investment to increase sales is key with continuing pressure for increased budgeting effectiveness. This is a snapshot of some of the attributes of Digital Playback.
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Written by Alison Wright