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Five steps to success Getting started with marketing attribution 2014 ADOBE ATTRIBUTION GUIDE Table of contents 02 Help your marketing budgets work harder 03 Expect the unexpected 04 Continuous refinement, continuous improvement 05 5 Steps to Success 06 Case Study Example – Live Nation 07 What can you expect to achieve? 1 Getting started with marketing attribution – Five steps to success ADOBE ATTRIBUTION GUIDE Help your marketing budgets work harder Consider the number of ways your customers interact with your brand as part of their buying journey – through digital channels such as email marketing, social media and online advertising, to offline media such as print advertising, point-of-sale displays, television, radio and more. Amongst this complex mix of marketing touch points, how do you know which channel has the most influence on buying behaviour? Where should you focus your marketing budgets? Fortunately, attribution modelling now allows you to answer those questions. Here are a few simple guidelines to help you get the most out of your efforts. television print advertising point of sale social media online advertising radio email marketing 2 Getting started with marketing attribution – Five steps to success ADOBE ATTRIBUTION GUIDE Expect the unexpected Marketing attribution allows you to get a complete picture of the journey your customers take during the buying cycle, and to evaluate the influence of each marketing interaction before conversion. This information will allow you to optimise your marketing spend, focusing on those channels that are proven to provide the best returns. But where do you start? Attribution modelling doesn’t have to be complicated. Collect data on one or two channels initially as part of a phased strategy. Online channels are a good starting point as they are often already tracked. The results can be surprising – previously tried and tested media may not be as influential as expected, while lesser-valued channels may prove to carry a lot of weight in the customer journey. Instead of only acknowledging the ‘last-click’ in every conversion, you have a more rounded view of marketing effectiveness. It’s all about the data Include offline, as well as online channels Build the right team CONVERSION Don’t stop experimenting Get everyone on board 3 Getting started with marketing attribution – Five steps to success ADOBE ATTRIBUTION GUIDE Continuous refinement, continuous improvement To gain a full picture of how each marketing channel influences customer journeys and conversion rates, it’s important to continually refine your marketing mix and evaluate the results. Attribution modelling allows you to create ‘what if ’ scenarios that help you to adjust channel activity and marketing tactics to improve effectiveness. By understanding and acknowledging which channels are the most successful, you can focus investment in the right place so you get a better return from your budget. Devices Channels TV/RADIO ADVERTISING PRINTED MEDIA SOCIAL MEDIA ADVERTISING DIRECT MAIL WEBSITE ENGAGEMENT AFFILIATE MARKETING SOCIAL MEDIA MARKETING DISPLAY ADVERTISING SEO PAID SEARCH EMAIL Let’s now look at the five factors you should keep in mind to make your marketing attribution programme a success. Attribution model Customer 4 Getting started with marketing attribution – Five steps to success ADOBE ATTRIBUTION GUIDE Five steps to success 1 It’s all about the data Draw data about your customers and prospects from all available sources within the business. The combination of web, mobile, point-of-sale and CRM data provides a holistic view of how your customer behaves and interacts with your brand, both online and offline. To fully understand the customer journey, consider the full picture. 2 Build the right team Generating meaningful and actionable insight from available data requires analysts. This is becoming a core role within marketing teams and there are an increasing number of people specialising in this area. Be sure to invest in the right skills to enhance your team. 3 Get everyone on board Attribution may not be welcomed internally if some teams perceive the results to be a threat to their channel and therefore their job. You can promote the benefits of attribution by focusing on the overall results – better conversion rates, increased sales and recognition for the marketing team as a whole. By removing a focus on team silos, all marketing touch points receive credit for influencing buying behaviour. 4 Include offline, as well as online channels Email, paid search and SEO are already top of the list of channels that can be most easily tracked, analysed and attributed in the customer journey. But don’t stop there. Every customer interaction, whether online or offline, counts towards a conversion. To make your attribution model as strong as possible, include as many sources of data as you can. 5 Don’t stop experimenting There is no ‘one size fits all’ when it comes to attribution modelling, and perfection is unlikely. The right model for you will depend on your goals and will rely on trial and error to refine the marketing mix. Don’t be afraid to keep adapting your tactics in order to improve your results. 5 Getting started with marketing attribution – Five steps to success ADOBE ATTRIBUTION GUIDE Case study example – Live Nation Live Nation Entertainment is the world’s leading live entertainment and e-commerce company comprising four market leaders: Ticketmaster.com, Live Nation Concerts, Front Line Management Group and Live Nation Network. Live Nation wanted to layer its business intelligence systems with web data to support easy querying and to power up its social marketing activities. Integration between Adobe products was a key selling point for Live Nation because it meant that the company wouldn’t have to manually pull data from different vendors, but instead could simply plug in Adobe products to leverage its own data stores. Adobe advantage Before implementing Adobe, Live Nation used last-click attribution, but that only offered half the story. Because 60% of orders have more than one marketing touchpoint, to just rely on last-click attribution ignored the impact of previous marketing activities. Adobe delivers the Live Nation team a more complete picture of visitor history with algorithmic attribution models providing multiple perspectives. Marketers can see – and optimise for – multiple touches. Adobe products quantitatively show the most likely paths to purchase, enabling Live Nation to optimise accordingly. Live Nation was surprised to learn that its SEO activities were yielding a return of $150 for every dollar. Meanwhile, SEM, which is generally considered very cost-effective, was delivering a return of approximately 50 cents for every dollar invested. And affiliate programmes, which seemed at first to be just breaking even, turned out to deliver a four-fold ROI. Results: •Improved attribution model allowing the marketing budget to be more effectively optimised • Detailed path analysis and behaviour of 28 million site visitors a month •Use of cross-channel analytics helping translate 10% growth in mobile traffic to 500% growth in sales transacted through mobile devices •Ability to show clients the effectiveness of features, such as an increase in conversion from 10% to 40% with interactive seat maps 6 Getting started with marketing attribution – Five steps to success ADOBE ATTRIBUTION GUIDE What can you expect to achieve? Attribution removes the guesswork from marketing strategy. By understanding the customer journey throughout all marketing touch points, you can justify your marketing spend based on real metrics. And the model is flexible – you can adapt the marketing mix to meet changing business needs. Successful attribution modelling is an ever-changing activity, allowing you to move beyond broad generalisations about marketing performance and better understand where your budget should be spent for best results. Meaningful analysis is within your reach. Only but of those who do of businesses carry out any form of attribution say attribution had a positive effect on their business 54% 89% Call us on 01628 590300 to find out more about attribution and how Adobe can help. www.adobe.com/uk/marketing @AdobeMktgCloud And 29% say the impact was major Based on a survey of over 700 companies and agencies, carried out in October 2012. 7 Getting started with marketing attribution – Five steps to success © 2014 Adobe Systems Incorporated. All rights reserved. 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