Mark A. Sorkin VP Data Sciences, Black Wolf Group

Size: px

Start display at page:

Download "Mark A. Sorkin VP Data Sciences, Black Wolf Group"

Ami Henry
6 years ago
Views:

1 Mark A. Sorkin VP Data Sciences, Black Wolf Group Experience 20+ years in Ecommerce with companies such as Sears Holdings Staples Charming Shoppes Ascena Retail Orchard Brands 25+ websites 3 Universal Cart/ Multi-Branded sites Analytic implementations with Google Analytics Coremetrics Adobe Analytics Worked with multiple Digital Marketing vendors 1

2 Measuring Attribution The Bottom Line 7 Steps to go from attribution to effective marketing Pick an attribution Method Tag all Digital Channels Audit the data Analyze Create Action Execute Measure your results Successful Attribution I have grouped the 7 steps into 3 stages of effort 1. Clarifying (Setting the stage) 2. Unifying (Enabling data and analysis) 3. Verifying (Taking action) 2

3 Measuring Attribution - Clarifying How to utilize attribution to drive marketing spend efficiency and grow profitable sales There are several reasons to measure attribution Manage digital marketing ROI Optimize digital marketing budgets Audit/Verify digital marketing vendor reporting/charges Measuring Attribution - Clarifying Attribution methodology always a debate in every company Companies use Single attribution method Multiple attribution methods Single or Multiple cookie durations Issue is same What method What duration 3

4 Measuring Attribution - Unifying Essential elements needed Assign tracking codes to all marketing efforts, including SEO Create tracking codes that enable you to break down by o Channel o Vendor o Key Segments/Attributes Audit the implementation of tracking codes Attain Buy-In that the data is correct Create usable reporting at appropriate levels Standard metrics you want to measure Visits Revenue Orders Units Conversion Other information you may want Marketing budget by channel by week Actual costs by channel by week 4

5 Ability to measure by multiple attribution methods 30 day most recent 30 day first 14 day 7 day There are reasons for multiple tracking methods Measure agreed upon corporate measurement Validating Paid Search vendor data Validating Affiliate vendor reporting and commission report Track additional ways other vendors report 5

6 When trying to measure the effectiveness of your marketing efforts there are a few key points: Pick a way to measure Measure the same way over time Compare the changes in key metrics ROI / ROAS AOV Other key metrics When tracking marketing efforts here are some suggested breakdowns: Marketing Channel Partner Segment Group Detail 6

7 Paid Search Channel Partner Group Detail Affiliate Channel Partner Paid Search Google / Yahoo / Bing / Etc Branded / Non-Branded keyword Affiliate Affiliate Partner Code / Name You can create a tracking code that enables you to group and breakdown the results into actionable data Em = Ps = paid search Af = affiliate Ds = display Rt = re-targetting CHN:BRN:PRT:SEG:GRP:DTL Channel Brand Partner Segment Group Detail Brand code if you have multiple brands Paid Search= Google/Yahoo or Affiliate= Affiliate Id Customer segments or PPC Bid Type (Exact/Broad) Paid Search = Brand/Non- Brand or Sub groups for testing Keyword for Paid Search and SEO or Link 7

8 Measuring Attribution Verifying Real World Examples An analysis done comparing a 30 day most recent and 30 day first attribution method was performed The analysis was performed across Multiple web sites Multiple marketing channels Over 80% Percent of visitors stayed in same channel using 1 st vs last touch attribution Similar results across multiple brands Similar results across multiple Marketing Channels Measuring Attribution Verifying Real World Examples Partner Audit Uncovering Overpayment Found Data Discrepency Isolated to tagging error The partner was using pre discount revenue instead of post discount (what was actually paid) This created an over payment of agency fees and commissions to partners 8

9 Measuring Attribution Verifying Real World Examples Affiliate marketing program New Customer Bounty Program Created ability to track if order from affiliate was a New or Current Customer Created reporting to measure NTF by Affiliate Partner Found partners driving high level of NTF Offered higher commission for better placement to drive more NTF Created modified commission structure Original 7% for all New 9% if NTF and 4% if existing Measuring Attribution Verifying Real World Examples Paid Search - Bidding Managed vendor bidding levels by Branded separate from Non-Branded Managed Non-Branded to an A2S with or without spending caps This enabled an optimized budget spend in the channel Natural Search Existence and Spend Tested to measure pre optimization vs. post optimization SEO rankings and traffic Tested and measured SEO optimization enhancements for effect on SEO traffic and sales Analysis used to size SEO optimization budget and SEO vendor expense 9

10 Measuring Attribution Mark A. Sorkin VP Data Sciences Black Wolf Group, Inc. Measuring Attribution Thank You Questions? 10

11 Thank You Questions? 11

Cost of Acquiring Customers for Online Stores (India)

Cost of Acquiring Customers for Online Stores (India) Acquiring Customers for Online Stores (India) How much does it cost an online ecommerce store to acquire new customers? This is a question asked by many who want to run a profitable online business The