Volume 1, Issue 10 - November, 2011
Anto Chittilappilly, Co-Founder, President & CTO, Visual IQ
In Part 1 of this article in last month’s IQ Advisor, I discussed a number of valuable by-products that are ancillary to the attribution modeling process and the questions those by-products helped answer. The following are some additional insights that can be turned into actionable strategies as a result of analyzing the stack of touchpoints associated with the audience that is exposed to your multi-channel marketing initiatives. Unlike the actual attribution management process, in the case of these particular insights, they focus on analyzing only the touchpoints associated with your “converters”).
Converter Touchpoint Mix Analysis – by analyzing the mix of “interaction types” (clicks, impressions, or neither) in which your universe of converters engage, you learn the answers to questions like “What percentage of my converters are click-through (clicks)?,” “What percentage are view-through (impressions only)?” and “What percentage are neither?”
Converter Touchpoint Frequency Analysis – by analyzing the same touchpoint data, you are also able to determine the probability of someone to convert if he is exposed to any given combination marketing tactics. This multi-dimensional analysis provides a picture of the combinations of tactics that produce the highest likelihood of conversions, as well as the percentage of your target population that is exposed to each combination of tactics. Sample question answered: “How do I score my combination of publisher/creative/size in their capability to produce conversions with same media-cost?”
Converter Touchpoint Lag Time Analysis – by analyzing the time lag between various “path markers” - such as first impression, last click, first visit, last visit, etc. - and the eventual conversion, you learn the speed at which certain marketing tactics (channel, campaign publisher, creative, etc,) produce conversions. This analysis answers questions including “Which tactics produce the quickest conversions?,” “Which produce the highest value conversions?” and “Do I need to alter my creative to take into consideration a longer conversion cycle?”
Converter Touchpoint Funnel Analysis – by analyzing the touchpoints that take place at various lag times in advance of the conversion and the tactics associated with those touchpoints, one can gain an understanding of the tactics that are effective at various stages of the “conversion funnel.” You get answers to questions such as “Which tactics are my best ‘openers,” ‘advancers’ and ‘closers’ within my converting audience?” and “Which tactics close the majority of my converters?”
Converter Touchpoint Sequence Analysis – by analyzing the sequence of touchpoints your converters experience, you uncover the sequences of tactics that are most and least effective at producing conversions. You gain answers to questions like “Is there an optimum sequence of creatives that can be served in order to maximize my performance?” and “Is there a ‘typical journey’ experienced by my audience on the path to convert?”
Again, all of these are ancillary by-products of the actual marketing attribution process that initially identifies the appropriate credit that every marketing tactic has earned for the conversions that your marketing efforts have produced. But as you can see, these additional touchpoint dimensions take that analysis to a deeper, more detailed level that produces benefits that, once recognized, you will not want to be without.
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