How do you tell who got the online sale?Leave a Comment (0) ↓
In the old days, it was oh-so simple. You had a sales team in the field, and their calls led to signed sales orders. They earned their commission on that basis.
Now, most B2B companies make their sales online – but you can use Google to tell you where the order emanated from, right? Sorry, no.
Analyse what you yourself do online. First, you search widely, seeking credible suppliers. You probably then research a shortlist in more detail, which may take you down all sorts of digital byways, that likely include –
- Google AdWords
- Organic search
- YouTube video channels
- LinkedIn pages – company and key staff, articles
- Twitter feed
- And maybe staff Facebook postings, embarrassing or otherwise…
You end up with multiple ‘touchpoints’ with the prospect. When that company becomes a supplier, what was the critical intervention? Traditionally, we have scored the critical hit as being the Last Click that the buyer made. Percentage conversion figures are then pored over by management: but this can be very misleading.
In these days of cookies, remarketing and programmatic advertising, everyone is being tracked around the Net and receiving subjective messages – and we as advertisers can track the path taken from First Click to Last.
We Digital Marketing consultants spend a lot of time analysing Attribution. Why? Because the data shows that there are on average 30 touchpoints before an actual transaction occurs.
And that number probably increases for higher-value B2B purchases…
So what are your measurement options via Google? These are the models you can choose from:
- Last Click: where the final Paid Search (in the case of an AdWords campaign) gets all the credit for the sale.
- First Click:The first touchpoint receives 100% of the credit.
- Linear: Each touchpoint – if there were 4, comprising Paid Search, Social Networks, Email campaign, Direct —would share 25% each of the credit.
- Time Decay: where the final touchpoints that were closest to the sale (or other conversion measure) get a larger weighted share of the credit.
- Position Based: 40% credit goes to each of the first and last touchpoints, with the remaining 20% credit shared evenly between the intervening interventions.
Which is right for your business? Well, that is a discussion I will be happy to have with you. Much depends on the nature of your typical journey from interest to conversion. And now, there is 6th model to consider, brought to us by Google: Data Driven.
This requires you to have quite sophisticated data, but it is definitely one to watch for the future. It uses machine learning to score all the ‘converting’ and ‘non-converting’ interactions and assigns a weighted value to each. It even scores your ads’ creativity.
This is important because it allows us to get to the heart of which campaigns work, which do not, and how your audience behaves.
For guidance on this and all other aspects of Content Marketing, talk to me or my colleagues at Hannon Digital today.