By Lindsey DiGiorgio, VP of Marketing for NinthDecimal
For some marketers, “measurement” comes down to one number, a single measure of ROI that determines whether a campaign was successful or not. The vast majority of marketers, however, know that measurement and attribution are valuable for more than just proving ROI. Together they can deliver valuable campaign lifecycle insights, helping marketers find ways to increase campaign effectiveness and drive quality engagement.
By using valuable datasets together, it’s possible to apply attribution across the entire customer journey, rather than analyzing success at a static moment in time. Consider the standard marketing funnel, driving consumers from awareness to interest to consideration to purchase. Do you know where your potential customers are falling off the path? What can your marketing do to encourage them to ultimately convert?
Strength in Numbers
Both foot traffic data and purchase data are incredibly valuable as attribution tools, helping marketers understand which tactics, messages, and strategies drove people to visit stores or make purchases. But these data sets are even stronger together. Think of the insight you can glean when:
· Your campaign drove incremental foot traffic, but no incremental purchases:
o In this scenario, you know that your marketing efforts are driving people to change their behavior, but there’s something blocking them from ultimately purchasing. Use this as an opportunity to discover what that barrier is. For example, is your advertised product properly stocked at the target stores? Do you need to adjust your in-store promotion tactics? Or is this an opportunity to improve personnel training?
· Your campaign drove incremental revenue, but no incremental foot traffic:
o In this case, your marketing was successful at driving purchases – but it may have been limited to existing customers. For example, your ad may not have encouraged a weekly grocery store visitor to visit, say, twice per week, but it may have inspired them to increase their basket size. Use this insight to target different messages to loyal customers vs. lapsed visitors.
You’ll note that in both examples, the marketer can measure not only visits and purchases associated with people who saw the ad, but which ones were directly attributable to the advertising. The concept of “incrementality” is vital to attribution, allowing marketers to more confidently understand causality – how did your advertising actually change consumer behavior?
With full, closed loop insights into campaign performance, from exposure to store visit to purchase, you no longer need to guess the effect of your advertising. And you won’t need to extrapolate engagement metrics (like click-through rate, which has long been proven not to correlate with actual business impact) to measure the value of your marketing programs.
At NinthDecimal, we’ve been rapidly evangelizing the benefits of foot traffic attribution (Location Conversion Index®) to the market and our clients. We’re thrilled that, through our partnership with Affinity Solutions, we can provide an even more robust measurement package that allows for a full view of marketing performance.
Check out our joint webinar on Full-Funnel Attribution.
About Lindsey DiGiorgio
Lindsey is VP of Marketing for NinthDecimal and has a passion for product marketing and data. Previously, DiGiorgio worked at Neustar, directing all media and advertising marketing initiatives, and AudienceScience, managing field marketing. She has also held sales roles in digital media at Adknowledge and Comcast. DiGiorgio holds an MBA in Marketing and Brand Management from Lund University in Sweden and B.S. degrees in Natural Resources and Business from the University of Vermont.