2/05/09

Getting analytics to attribute sales to specific marketing channels

By using analytics to tie online sales to specific marketing channels that generated them, retailers can better see the value of each channel, such as often underutilized e-mail marketing, says John Squire, chief strategy officer of Coremetrics.

Paul Demery , Managing Editor, B2B E-commerce

By using analytics to tie online sales to specific marketing channels that generated them, retailers can better see the value of each channel, says John Squire, chief strategy officer of Coremetrics. “Many are realizing that e-mail marketing has been the hidden gold mine they didn’t invest in,” he says.

“Making sure you’re attributing sales and activity on your site to the right marketing channel is a good way to understand where to spend marketing dollars,” Squire says. “For example, does e-mail get people to start learning about a product, and search marketing get them to come back and buy?”

More retailers are learning that the answer to that question isn’t always simple to attain, he adds. While it was once more common to emphasize search marketing to engage a prospect’s final shopping activity and secure a sale, more marketers are now drilling down further into analytics to connect the multiple stages of customer interactions with the marketing channel, including affiliate sites, display ads, search and e-mail, behind each stage, Squire says.

Analytics can show the last click a shopper engaged before making a purchase, the first click, and all the clicks in between regardless of which online marketing channel in which they occurred, he adds. Research shows, he adds, that 50% of online purchases are preceded by clicks on more than three types of online marketing programs, and that 25% of online purchases are preceded by clicks on more than 10 marketing programs.

Topics:

business finance, EDay, IBM WebSphere Commerce, Internet marketing, Technology Internet

NEWS CATEGORIES Back to Top...