Unit economics – why you need to nail them for your business19. February 2019
Content Marketing22. February 2019
Understanding the decision-making process of the customer from the first contact to the actual purchase, this is what matters in the marketing. The tracking, ie the capture of individual points of contact of the customer with your company and your products or services, makes the customer journey
so understandable and vivid. In this way, marketing measures can lead to traction, ie the state that the business is booming.
Frank Rauchfuß, CEO of intelliAd Media has written an exciting short series in the Internet World to track the customer journey. The first part is about the right setup, the second part is about rating the data.
Perform the setup this way
Step 1: Consolidate your data
The first step is to bundle the actions and results of different marketing channels or departments. Because, it is quite obvious that what you do in each channel also affects the other channels.
Step 2: Define important events as conversions
For the holistic tracking of the customer journey, it is crucial to measure the individual steps and subsequent steps as conversions. Probably the most important conversion step is measuring the purchase. But before and after, there are many important intermediate steps, such as accessing the product detail page, placing items in the shopping cart, etc.
Step 3: Capture all clicks and views
Evaluating the success of individual campaigns is usually done by adding the destination URL to parameters that both guide the customer to the right website and measurably capture which pages they visit.
Evaluate the data correctly
Step 1: Refine your database
Online behavior is just one side of the coin. In the meantime, the image of the customer journey can be supplemented and enriched if offline points of contact are also recorded and used. Examples of this include customer service calls, tracking TV spots thanks to TV triggering or purchasing in the stationary retail sector.
Step 2: Rate the channels by intelligent allocation
From all the relevant data, insights are now generated about the performance of the channel and also about the customer's decision-making process. This is to answer the question of how much revenue is generated across the single channel and if this is profitable in relation to the costs?
Step 3: Optimized Campaign Management
The previously collected and attributed data enables you to distribute budgets for individual channels in a more targeted and efficient way.
Here is the original German-speaking article by Frank Rauchfuß, CEO of intelliAd Media
, published at Internet World Business.