Google starts tracking credit card transactions to assess online ads effect on online and offline sales.
Every marketing manager has always sympathized with John Wanamaker's famous phrase "Half the money I spend on advertising is wasted; the trouble is I don't know which half." Digital marketing has helped alleviate some of the problems of attribution, by tracking of digital media. But unless someone is clicking through to purchase on your site or tracked by call they make via the site, it's very hard to attribute offline store sales to a particular online ad campaign.
But this limitation is now reduced which is BIG news for multichannel retailers. Yesterday Google announced it is now tracking consumers card transactions both online and in-store. The ability to track in-store sales is a real breakthrough in attribution, as since 92% of all US retail sales still take place in-store. Without it marketers are limited to focusing all…
Optimising and connecting customer touch points
Marketing expert Dr. Jeffrey Lant, says that in order to penetrate a consumer’s consciousness with your brand, and to make significant penetration in a given market, you have to make contact with the prospect a minimum of seven times. These seven “touch points” don’t have to be dedicated sales outreach, but refer to the different ways consumers interact with your brand: browsing your mobile site, for example is a touch point, as is receiving a flyer or trawling through your social channels.
Although this “Rule of Seven” is not absolute, it gives marketers an idea of the kind of effort and variety it takes to make an impression on a potential customer.
With the dawn of the digital age, the numerous channels and devices available for interaction mean that optimising each consumer touch point is more important than ever. It has…