Marketing teams have more channels than ever to engage and convert customers, including above-the-line (ATL) channels such as TV and Display, which historically have been extremely hard to track and understand performance.
The buyer's journey is complex; consumers engage with brands via multiple touch points before they make the decision to purchase. The vast number of channels and touch points in a user’s journey poses a huge problem for marketing teams in trying to optimise return on investment whilst having strict marketing budgets.
Which channels should you invest in to optimise return, and what does the ideal marketing spend mix look like?
Prove your worth
For many marketing teams, getting visibility on this type of data to answer such questions can be tough. Sifting through confusing and potentially biased data from multiple sources and spending hours number crunching or waiting for external teams to help is often a thorn in the side of many marketeers.
We also find that many marketing teams struggle to prove their worth to higher-ups in the business and get the budget they require. This is particularly true for channels which tend to lay at the top of the marketing funnel, such as SEO, PPC and ATL, where historically popular last click attributed models are especially disadvantageous.
This is where Cubed has helped transform brands, allowing them to truly understand the value and impact of all of their different marketing channels and campaigns and drive a much more successful multi-channel strategy. Some of the channels where we’ve seen significant transformations recently using Cubed are ATL and PPC.
A clearer picture
ATL advertising can be a troublesome channel, where many brands have struggled to report on and prove value. ATL channels are also generally hugely underappreciated when looking at standard attribution models such as last click, as there is no simple way to track which users have seen an ATL campaign such as a TV or Facebook ad, so understanding the impact on sales and revenue is even trickier.
At Cubed, we approach this problem slightly differently.
Our ATL reporting is built upon modelling a baseline for traffic and revenue during a period where no ATL activity is running. We model a baseline for each ATL activity such as TV, Display and Social Paid. This baseline predicts the expected traffic and revenue if there was no ATL marketing activity running. When ATL marketing campaigns are running, it allows Cubed to attribute any incremental revenue (above the expected baseline) to ATL channels.
Often, the most common channels driving incremental traffic are branded channels such as Direct, SEO, PPC and Email. We use the incremental revenue from such channels to re-attribute deserved revenue to ATL activity.
We’ve seen attributed revenue of ATL channels go from as low as 0-1% revenue share in pre-attributed ATL modelling using last click, to on average, 10-20% revenue share in post-attributed ATL modelling. This significant difference in revenue share would have a profound impact on what the ideal marketing mix would look like for ATL. Cubed has helped brands recognise the importance of such channels and use this insight to make key adjustments.
Identifying true value
PPC has also been a troublesome channel for some brands, since AdWords recommend fully trusting their automated bidding strategy. Cubed has helped brands to optimise their AdWords campaigns by recommending using an attributed cost-per-acquisitions (CPA) to drive strategy.
We often find that brands believe their Generic or Seasonal PPC campaigns have higher CPAs (using last click) and hence are not worth investing in, whereas under attribution, the CPA is shown to actually be much less, and hence ROI is much higher.
Understanding the true value of such campaigns is pivotal for driving a successful PPC strategy. Cubed has seen several brands have transformational results lately for the PPC channel, simply by truly understanding the value of PPC campaigns and being smarter on which campaigns they should invest in, and by how much.
Gaining just one of these transformational insights is of huge benefit, but transformational data insights across all of your key marketing channels? That really is a game-changer. The fact that all of this data, alongside all of the answers that data provides, sits in one lovely platform of truth known as Cubed, is the best news possible for any brand looking to transform their marketing return.