Tips for Managing Attribution in an Omnichannel World, Part 1
And yet, this scenario is becoming more common as consumers expect to engage with retailers seamlessly across channels and digital advertising takes on ever greater importance. According to research conducted by Deloitte Digital, digital across all platforms — desktops/laptops, tablets, smartphones — influenced 36 percent of in-store purchases in 2013 vs. 14 percent in 2012. This trend shows no signs of slowing.
So what can retailers do to ensure that cross-channel marketing investment is being accurately measured and optimized? Ultimately the answer will involve a combination of data, technology and people/process. The following questions should be considered by retailers as they start down the path of true omnichannel attribution:
- Is customer data being gathered at the point of sale in-store? What's the incentive for customers to provide information like an email address?
- Assuming a process is in place to gather customer information at the point of sale, do in-store associates have the proper customer service skills and training to effectively do this?
- Is a technology platform in place to integrate in-store data with data from other customer touchpoints (e.g., email, direct mail, web, mobile) and tie those touchpoints into "event streams" associated with individual customers?
- Is a reporting infrastructure in place to track marketing effectiveness at both a detailed and macro level, as well as respond to changes?
The benefits to retailers of getting omnichannel attribution right are clear: marketing dollars can be deployed where they'll drive maximum results in terms of online and in-store revenue and margin. However, the challenges are equally clear. So where should you begin? In part two of this series, I'll lay out a road map and a set of recommendations for retailers considering an omnichannel attribution initiative.