I just found Mr. Kfir Pravda’s article “Revenue attribution 101” Mr. Pravda’s key question was: How do you measure revenue attribution – money and profitability for marketing activities. He had split the revenue attribution measurement according to touchpoint sequence from last to first and combined as customer journey. I agree with his measurement frame and guidelines. It’s a great article. I would recommend reading it.
Mr. Pravda’s article got me thinking about how do I actually approach this subject in my planning and implementation process.
First: I always start attribution modeling from owned channels
- What is their capacity to bring traffic and visitors (eg. stores and online)?
- What is their capability to convert recognized customers?
- What do people actually look in to and buy?
- Who are the customers actually – what kind of attributes, motives, interest contexts etc. do they share?
Once you have your own channel conversion, increased owned media demand generation impact and marketing automation tuned effective for the first time purchase t’s time to get more people interested.
Second: With the knowledge about contexts, customers and motives that generate interest and traffic it’s rather easy to recognize interfaces and channels that enable you to present a relevant and appealing messages for customers. This first touch planning is very much data directed iterative testing and learning process. What ever works, you scale up and automate in any given channel from online to direct marketing, telesales, face-to-face sales or advertising. I do prefer channels that I can measure direct ROI from, but I’ve also seen how media marketing has created stronger customer relationships and willingness to pay premium. These secondary KPI’s are about brand attributes, preference and willingness to pay premium.
Third stage is about learning and planning how to increase customers’ basket size, purchase frequency and expand customer’s buying behavior to more than one category. This stage is about using marketing automation technology in order to create service automation customer care programs for great customer experience and sales.
This process is completely founded on customer journey analysis and understanding in an omni-channel environment.
I think you might find these articles interesting:
Admap best practice article: How to map customer journey
Marketing’s new and re-designed 7P’s
Managing Brand – The most profound KPI’s and measures /
From marketing automation to service automation
Marketing Do or Die – managing customer interfaces
What about others? How do you approach marketing attribution measurement and planning in omni-channel environment?