The data will be different for all users so again the here the message is test. I guess the question here is really an advertising and attribution one. In days gone by a recipient would have seen an advert say on TV, heard it on the radio and then again perhaps seen it on a billboard on the way to work!
The issue we face with digital is every channel would like to claim the last click attribution before purchase. However when we consider ourselves as the consumer we know that various touch points from a brand all add up to make a difference. I would love to say that lots of you will sign up to dotmailer as a direct result of this session, however it is most likely if you do sign up, you will no doubt perhaps see us at a trade show, download a white paper, receive and email, a social media advert or sign up for a trial account.
I would try and understand what the overlap is of your email and social data. How engaged are they on each channel as well may determine what messages you send and what the call to actions maybe.
It’s easier to understand this when looking at what targets you need to achieve and how you are going to calculate the attribution.
Traditional attribution modelling is either Too simple… last click! Guess what… search wins hands down every time with this. If you only did search, your company would soon suffer. So we know last click attribution is not useful. Other models are too complicated, normally set up by some data boffin, too complex for us to use on daily basis.
So let’s look Customer Value Analysis. Traditional attribution models work from sales made. Let’s work back from the total sales we want to achieve instead.
In this example we look at the stats of those who purchased via email, those who purchased via Facebook only & those that interacted with both!
• Average Value - Db size / Total Revenue
• Average purchaser value – Total Revenue / Number of purchasers
This tells us how much to spend
• To acquire a new customer (Ave value) per channel
• To turn a prospect into a purchaser (difference between Ave Value & Ave Purchaser Value) per channel
Benefit: You can do this per channel. If you have a revenue target, you now know how many email addresses & FB fans to acquire.
You know your existing run rate, therefore the revenue / attendee gap…. You have Actionable metrics to use to hit your target.