In a multichannel world, omni-channel raises everything up a notch. Multichannel is literally about marketing across multiple, diverse channels to engage with consumers whenever and however it’s convenient for them. Retailers are engaging with consumers in new ways, often to drive them into the store, by offering online order with in-store pickup, or posting online coupons and mobile offers that must be redeemed in-person. Omni-channel ensures that there is synergy between interactions within those channels. That means that retailers and brands can deliver on the promise of a seamless customer experience from channel to channel, from device to device, both online and offline.
While omnichannel is a dream for the consumer, it’s a bit tricky for marketers. If that customer, after receiving an email about a Facebook promotion, then engages with Facebook to receive that promotion – but ultimately makes a purchase in-store, loyalty card in-hand, which channel gets credit for that sale? How can a marketer know, with so many touch points, which channels to optimize for future sales, and which channels underperformed?
Attribution is challenging, but critical – and last-click models are no longer reliable, if they ever were. They can’t teach us anything about our audience and which channels and messages engaged them best. For most retailers, closed loop attribution will solve the problem of incorporating offline data with digital channels to create a more holistic view. (That’s where in-store coupon redemption and loyalty cards really show their value.) Marketers need access to first party data – ideally layered with third-party data – and solid analytics to understanding which channel tipped the scale and converted that consumer into a customer. In fact, with the right technology and insights, marketers can optimize to those offline converters and identify, by finding “look-alikes” within their own customer data, who their next best customers will be.
The key is developing multi-platform attribution models (or leveraging existing models) that align with unique business goals. To support these models, marketers should have best-in-class technologies in place to track and measure interactions at all touch points, and deliver the actionable insights needed to optimize and grow their omnichannel programs.
To learn more about MediaMath’s solution, click here.