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“Half the money I spend on advertising is wasted; the trouble is I don't know which half.” John Wanamaker (1838-1922). Are we any closer to answering that fully in 2017?
Calculating CPA (cost per acquisition, also referred to as CPL - cost per lead) is a challenge. But tracking the cost of your first acquisition point (which may be a lead or a customer) is essential in understanding marketing channel efficiency and equally marketing-mix efficiency.
Marketers face the challenge of a constantly changing media landscape.
According to a recent study by McKinsey & Company the number of digital touchpoints is increasing by 20% annually and consumer activity is shifting rapidly to these new digital channels.
Using customer segmentation and attributed reporting together allows you to gain greater insight into what drives your customers to purchase.
This is crucial information in a world where paths to conversion are so complex.
Though the headline might suggest it, I'm not going to draw a tawdry analogy.
Simply, let's look at a few charts from Econsultancy's new report, the State of Marketing Attribution in the UK, France and Germany, published in association with AdRoll.
For merchants that sell to their customers offline, assessing the efficacy of Facebook ad campaigns can be challenging.
This is because establishing a direct link between those campaigns and offline sales is often a guessing game, particularly for small, local businesses.
But savvy merchants will soon be able to change that thanks to Facebook's Offline Conversions API.
I've picked out some highlights from the worldwide survey of 678 relevant senior staff, including overspend and underspend by channel.
“Next is planning to save £8m by not sending out glossy catalogues to shoppers who don’t want them” said The Telegraph on Good Friday. The money freed up would be directed into digital, it stated.
I've been trawling through the Festival of Marketing presentations from 2015, to deliver you some statistical goodness.
OK, it's a bit of a potlatch, but a damn tasty one with something for everybody's palate.
Grab a spoon...
Recently, nearly 100 senior brand marketers met in Singapore for a full-day of roundtable discussions of the issues that we are all facing in digital.
As with every Digital Cream event, the Chatham House Rule applied, so what was said cannot be attributed to any individual. But at the end of the event, the hosts of each table helpfully provided a summary of the day's discussions.
Here is an overview of the topics covered by the Online Advertising and Ecommerce & Onsite Conversion Rate Optimisation tables, along with notes of what brand marketers thought.
In November dozens of senior brand marketers met in Singapore for a full-day discussion of the issues that we're all facing as we drive digital change.
As with every Digital Cream event, the Chatham House Rule applied, so what was said cannot be attributed to any individual.
On Thursday, November 19 dozens of brand marketers came together in Singapore for a full-day discussion of the issues that we are all facing as we drive digital change.
As with every Digital Cream event, the Chatham House Rule applied, so what was said cannot be attributed to any one marketer.
But at the end of the event, the hosts of each table helpfully provided a summary of the day's discussions.
Marketers can feel pressured, by blogs like this, into believing they are lagging in the race to master omnichannel attribution.
In the real world, what marketers need are discrete ways to track discrete actions. That's why I thought a roundup of some methods of tracking online to offline conversions (and back again) might be useful.
Please add your own two cents in the comments.