Department store magnate, John Wanamaker, once famously said, “I know half the money I spend on advertising is wasted; the trouble is, I don’t know which half.”
RCG works hard to make sure you feel none of your investment is wasted. However, even for the most cynical marketer, smart processes and today’s technological advances in digital marketing can help drive Wanamaker’s ratio down.
Analytics for marketing and media hinge on tying measurable key performance indicators (KPIs) to detailed data on advertising activities. Moreover, there is a continuum of data collection and measurement activities. The more data points tracked, the more detailed any insights revealed may be, but also the larger the required investment. Marketers must decide the point at which analytics are “good enough” and beyond which, additional investment doesn’t provide a large enough ROI.
Many marketers will apply broader sales attribution requirements to investment in top of the sales funnel awareness media like broadcast TV and radio. Those same marketers might invest heavily in tracking and attribution for consumers who performed certain online searches or visited a website.
RCG can help you define your KPIs and provide data and analysis that applies appropriate attribution models across a variety of media channels. Here are a few of the KPI categories we work with frequently.
Online Sales and Inquiry
RCG can help target and re-target individuals based on their online behaviors. Moreover, we can measure and apply predictive models to identified patterns. This might involve utilizing digital tools like tracking pixels, IP address targeting, landing page strategies and more.
Tools like click-to-call and call log tracking can help marketers attribute phone calls to specific marketing activities. Call center best practices can also be employed to provide data on a broader scale.
The ability to attribute in-store traffic and sales to marketing activities is continuing to evolve. Employing much of the same digital toolset as online measurement with an overlay of geotargeting data can provide some insights but, to date, must measure a fraction of actual activity and be extrapolated with modeling.
Regardless of the KPIs that are important to your business, RCG can help provide the data, visualizations and dashboards that help you make decisions with more confidence.
Contact RCG today, and ask us how we can implement an analytics program or supplement your internal efforts with timely and accurate advertising data.