Identify channel interactions pre and post-sale
Identifying the point of sale in every customer’s journey is crucial in determining the accurate attribution of marketing channels. And, it is equally important to understand channel usage post-sale to identify areas of wasted spend or opportunities for improving the customer journey at a lower cost. For example, how much of your PPC activity is driven by customers who have already bought into your brand and are, in fact, looking to make contact about their order or re-purchase products?
By gathering an understanding of the keywords, site usage, website pages viewed and the intent of a customer’s visit, you can identify where potentially alternative channels can be used at a lower cost. PPC brand terms may be secured to protect brand positions, but understanding how much of brand term spend is actually being invested in customers already committed to the brand instead of attracting new business, allows you to make better buying decisions or direct them to more relevant pages on your site.
Online channels give you the opportunity to measure attribution at an individual level, with the use of customer identifiers in email, tracking of display, SEO and PPC impressions and site visits. Although offline channels do not allow that luxury, it is possible to successfully measure the effect of offline activity on online behaviours by feeding attribution models with relevant information such as periods when TV, OOH and Press is active. This allows you to ask whether TV has a positive effect on Social and SEO which means PPC could be down-weighted for that particular period.
On the other hand, if your customer journey means that customers have to identify themselves early in the process, for instance in insurance renewals, TV and OOH viewing rates can be applied at postcode level, giving even greater accuracy to the measurements. Tracking codes in printed materials allows data links to be created. Understanding if these channels are driving new or repeat business helps to determine the correct level of investment.
How does connecting data benefit brands?
Data-driven attribution gives you the ability to understand the role that each marketing channel plays in the entire customer journey, which channels attract customers and which channels secure sales along the path to purchase.
This level of insight not only helps you to understand more clearly the interactive role each channel has but allows you to use this knowledge to send relevant content to customers. For example, email may work better towards the end of the customer journey and push customers towards that final step to purchase. Knowing that these customers have already clicked a PPC ad, viewed multiple pages on your site or have been exposed to a display ad, allows you to tailor your email content to recognise their position in the purchase cycle.
This type of attribution is becoming essential for any brand that wants to compete in today’s market. Customers are demanding more from the brands they interact with, they expect more personalised and relevant journeys, combining attribution results and insights with CRM and online programmes of activities allow you to not only be on the right channels at the right time but to serve the correct content most relevant to individual customers. Customers want you to recognise that they have bought from you before, they’re back on your site and interested in re-purchasing but they’re not quite ready. This goes far beyond sending an abandoned basket email. By understanding how each marketing event contributes to the customer journey, you can decide on the next best action to help deliver maximum ROI.
How can Jaywing help?
Here at Jaywing, we drill deep into data, ensuring that the best insights can be extracted from the information available to you. Our mathematical expertise together with over two years of research and development in attribution modelling, has led us to understand that machine-learning modelling techniques, in combination with the Shapley Value method is the best solution for attribution modelling.
Marketers need an approach that considers the impact of all possible inputs on behaviour, across the entire customer journey, that allow you to understand which campaigns, channels, and activities are working at which touchpoints along the customer journey, from initial awareness to desired actions, purchase, and advocacy. This will show you which combination of inputs are driving which responses to determine their relative value, providing you with the intelligence to guide marketing investment decisions.
Our approach to attribution is incredibly sophisticated, yet amazingly simple. We combine all your online and offline data, removes your base sales and use powerful machine learning techniques to attribute a fair share of value to sales.