There are a number of reasons why they might want to do this. They might have high stock levels of a particular product; some ranges might be out of date, and they wish to sell off remaining stock; or perhaps a product is not selling as well as they had hoped, and they wish to boost the sales. On the face of it, Google Shopping seems like a good platform for this task. Advertisers can pay more to increase the exposure of a particular product, rather than bid on keywords alone (as is the case with standard text ads). Hence, advertisers often believe Google Shopping is the ideal means to proactively manage inventory and stock levels. However, behind this approach is the assumption that there is a direct relationship between what consumers search for and what they end up buying. So let’s take a closer look at the data to see how consumers actually behave. Do consumers always buy what they search for? For a deeper insight into what is actually going on in Google Shopping, we analyzed … [Read more...] about Can you manage your inventory with Google Shopping?
Attribute approaches to performance management
As one of the hottest topics in marketing, attribution is often presented as a panacea for marketers’ dilemmas, allowing you to understand how different advertisements in a purchase funnel work together. The typical description first shows how conversions attributable to various channels change when going from last-click to even-distribution or U-distribution (pick your favorite open-shaped letter!). The line of reasoning then claims that multi-click attribution is needed to properly optimize your search campaign. Some attribution vendors even claim that attribution can solve the media mix problem, i.e., finding the right budget allocation to maximize the overall impact of a marketing campaign. The truth, however, is far more nuanced than a broad brushed statement claiming the superiority of multi-event attribution over a last-click approach. Last Click Is Not Always Bad The typical marketing mix of an omni-channel marketer is about 50-70% offline (TV, Print, PR), 10-15% search, … [Read more...] about Attribution: Busting The Myths
As marketers, we think that attribution is important. However, despite all the talk in white papers, blogs, etc., little has been discussed about its effective use. For instance: is attribution always useful, what are the common attribution techniques, which is the best attribution model, what improvements in efficiency can one expect from the right attribution techniques? In this column, I shall attempt to answer some of these pressing questions. Question 1: When To Invest In Attribution? Many advertisers want to investigate cross-channel effects with multi-channel attribution. However, they use one tracking system for search, one for display and a third for email marketing. These systems are often not compatible with each other, and it is often very difficult, if not impossible, to combine data for multi-event funnel analysis. It is, as they say in Cantonese, “Like a chicken talking to a duck.” The first step, then, is to make sure you have a system that can track across … [Read more...] about How To Effectively Use Attribution With Complex Campaigns
“Am I profitable?” It’s a question every PPC account manager is asked, but it’s also a question many account managers struggle with answering. As an agency owner, I make sure our entire team develops a fluency with these essential ROI formulas. PPC marketers aren’t necessarily statistics wizards or mathematically oriented by nature. I’m not—that’s for sure. While understanding AdWords and the pay-per-click auction process at a deep technical level is crucial to the success of any campaign, understanding a business’s financial metrics is just as important—if not more so. Moreover, the better you can explain these sorts of financial metrics to your clients the better you will look, the better your clients’ campaigns will perform, and the longer you’ll be able to retain your clients’ business. Formula #1: Determining ROAS The difference between ROAS (return on ad spend) and ROI (return on investment) is whether … [Read more...] about ROI Formulas Every PPC Manager Needs to Know
There’s a reason many brands don’t track in-store attribution for local marketing: it’s hard. Really hard. I’m reminded of the old adage that says half the money you spend on advertising is wasted; you just don’t know which half. Similarly, half your customers walk into your store as the result of local marketing; you just don’t know which half. Proving that someone visitedyour store because they saw your online local marketing efforts at some pointis a complex undertaking. Most out-of-the-box attribution tools don’t make it easy to differentiate between local marketing traffic and a visit from someone who stepped out of a local restaurant and happened to see your store right across the street. There’s also the challenge of seeing over the walled gardens of Google, Facebook, Bing and the other major platforms to compare notes. In a world of last-click attribution, it can be difficult for brands to determine which media influence had the … [Read more...] about Getting a clearer picture of local marketing attribution