Not so long ago, ‘digital conversion’ – or a click that led to an action – represented sophisticated marketing measurement. Today, a click is no longer enough. In fact, over-relying on this metric can cost your business revenue. You’ll fail to find new customers by measuring too narrowly and miss opportunities to adjust and optimise tactics.
After all, it doesn’t matter if someone clicks on an advert for a new lawnmower, only that the consumer is cutting their lawn with that mower a few days later. For marketers, this consumer journey can be shaped by visibility and measurement of the right variables. Is the message resonating? Are we targeting the right audience? Is the campaign converting into actual sales? Clicks are nice to have, but conversion is what counts.
To deliver higher conversions, today’s marketers need a holistic view of the consumer, both online and off, fuelled by data insights and marketing analytics. Consider, for example a shopper who learns about a product from an online advertisement, uses an online search engine to find a review, gets a reminder via a Facebook post, then buys the product during an unrelated trip to their local shopping centre. This is how people behave, but is it possible to capture all the data required to explain this journey? Is it possible to attribute this sale?
The answer is a resounding ‘yes’! The method: cross-channel measurement.
Cross-channel measurement means attributing a conversion event (a purchase or email subscription), back to the mediums and channels a customer engaged in – online display media, mobile, search, social, email, TV and more.
Intelligent data management platforms can now enable agencies, brands and marketers alike to more effectively plan, target, engage and measure both offline and online campaigns. Real-time visibility allows them to better define target audiences, allocate media spend across channels and implement the most effective messaging.
With new technology and datasets unlocking unprecedented insight into consumer behaviour on a real-time basis, it’s important for marketers not to lose sight of the metric most relevant to their success. It may seem like a daunting task at first glance, but by sifting through the noise and measuring the data that matters, marketers are edging closer to truly understanding what drives their target consumer and getting the maximum return on investment for every pound.
By Miranda Joseph, International Marketing Director at Neustar.
PrivSec Conferences will bring together leading speakers and experts from privacy and security to deliver compelling content via solo presentations, panel discussions, debates, roundtables and workshops.
For more information on upcoming events, visit the website.
comments powered by Disqus