By: Austin Dicharry
For years, marketers have relied on single-touch attribution to measure the success of their online marketing programs. However, with the complexity of today’s programmatic advertising, this approach doesn’t give the full value of marketing efforts.
The magic of automated advertising is its ability to make an impact at every stage of the marketing funnel. At the bottom of the funnel, retargeting keeps the brand in front of prospects. At the middle of the funnel, social marketing helps continue engagement with viewers via social networks. At the top of the funnel, targeted programmatic advertising increases awareness of the brand. The key to measuring multi-channel marketing with digital advertising is to have an internal reporting system that gives complete visibility at every stage of the buying process across all platforms used in advertising.
No matter what the marketing objective is with digital advertising, the right metrics must be used. Marketers need to use the marketing funnel as a framework for identifying the correct metrics. Going beyond the last click attribution gives a more accurate picture of automated advertising ROI.
The whole purpose of multichannel marketing is to use multiple channels, such as mobile, direct mail and website, to reach customers. Customers can choose whatever medium they are most comfortable with. Another way for measuring the effectiveness of multichannel marketing efforts is to set control groups that do not receive the multichannel promotion.
Evaluating individual marketing channels based on success actions in each advertising platform will give an accurate picture. Keep in mind that these actions shouldn’t be measured just in purchases and revenue. These success actions can be measured in both online and offline behavior. Success actions include:
- Website entries on a particular landing page
- Level of engagement with the website
- Website visits from a specific traffic source
- Increased brand awareness as measured by a survey
- In store vouches redemptions
- Increased sales within a particular store
- Increased sales of a particular product in store or online
- Use of a particular hashtag on Twitter
Using an internal reporting system, the right metrics and measuring performance in each marketing channel are the best ways to understand which combinations work best. Be sure to use the data from previous marketing campaigns to optimize the future marketing campaigns.