Understanding the Customer Journey

If you haven’t noticed yet, we love attribution. And by attribution, I mean a real multi-touch attribution platform that allows you to connect all channels of your marketing efforts. Check out our Attribution 101 post for additional explanations. Recently, someone told me that they didn’t believe multi-touch attribution has proven successful for the retail vertical. So here is a real example of attribution success.

When it comes to understanding your customer journey, attribution is crucial. Having the best attribution model for your business can also mean achieving the best possible return on advertising investment. E-commerce clients often task us with developing digital media strategies to acquire new customers and drive repeat purchases with existing customers.

In one case, a client came to us with that same task but had previously been analyzing performance based on a last-click model. Last-click is fine if you only want a short-sighted version of the story because it ignores any action that took place before the final interaction. Based on last-click, this client’s data initially indicated that the display campaigns were performing poorly based on cost-per-transaction. If you were only looking at a last-click model, you would probably want to optimize your budget away from display to stronger performing channels.

However, upon implementing a multi-touch attribution model, we discovered that customers were not immediately converting and were waiting for seasonal promotions before completing their first transaction. This finding showed us that we needed a short-term optimization strategy for generating new accounts and a long-term optimization strategy guiding the prospect through the conversion funnel. By creating these strategies and understanding the customer journey, we were able to optimize the campaign most efficiently and bridge the gap between digital media performance and customer retention programs.

Do you have full visibility into your customer journey? Contact us for more information.

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