08 January 2019
For marketers –– as for all professionals –– time is a premium resource. After all, marketers are constantly working to alter and adjust their current strategies to better engage their customer base. As such, it’s often difficult for pros to devote sufficient time to properly analyze important marketing metrics. Yet, without thorough analysis, it’s nearly impossible to improve those marketing efforts. This is a harsh catch-22 that many marketers experience regularly. To help clear up this issue, we’re here to explain some basic concepts about omni channel marketing analytics, and what you need to focus on to succeed:
Just as omni channel marketing tactics focus on the individual customer journey, so also do omni channel marketing analytics. By this we mean that the most effective means of tracking omni channel marketing performance will naturally include all aspects of a company’s marketing strategy. It’s important for marketers to understand how their customers interact with marketing material and the progression they follow along their sales journeys.
Whenever a business first implements an omni channel marketing strategy, it’s essential that they find a way to connect their efforts and attribute conversions accurately. Since omni channel marketing not only involves but actively encourages consumers to move from one medium to another (from TV ad, to digital ad, to landing page, to blog post, to social media, etc.) it’s critical for businesses to set up an attribution model that can effectively track offline and online activity. Fortunately, Advocado boasts multiple innovative products like TraaqrSMB, which attributes sales made offline to digital content that inspired them, and MicroMoment+, which connects digital ad activity to offline TV advertisements.
With the right software, marketers can access information on consumer behavior from initial interest all the way through the ultimate result of a given sales journey. This is key, because not all “conversions” end in sales. Just because a TV led a consumer to a digital landing page, for instance, it doesn’t necessarily mean that either are effective at generating revenue. By determining which pieces of content generate sales –– and pinpointing where consumers experience significant micro-moments –– businesses can leverage their knowledge to make meaningful changes to their marketing material.
Of course, the best businesses take historical data to enhance current and future performance. And thanks to innovations in offline-to-online tracking technology from Advocado, your business can benefit from automatic ad optimization. Ideally, omni channel marketing analytics should help your team achieve three goals: 1) lower advertising costs, 2) increase customer engagement, and 3) improve marketing and sales ROI. If your current analysis methods prevent you from attaining any one of those three objectives, then it’s time for a change!