Online Services Provider Gains Customer Journey Insights Through A Unified Lens
Our client is an online service provider with a long customer journey who has challenges capturing all efforts along the customer journey. They have a complicated business model with many touchpoints before conversion. By looking at the full picture and applying models that measure both immediate and lagged impact of marketing throughout the funnel into consideration, Analytic Partners uncovered potential to grow inquiries by 20% and sign ups by 5%.
Our client’s previous marketing analyses focused only on digital attribution or only covered late stages in the long and complicated decision funnel. While they were originally interested in only bottoms-up Digital Attribution, top-down marketing mix models were vital to the ability to measure TV – a major part of their marketing spend – and gain a holistic view of what is driving inquiries in the context of non-marketing factors as well.
Analytic Partners delivered a Unified Measurement solution to better understand the full impact of marketing. In this analysis we found both an immediate as well as a lagged impact of marketing (e.g. marketing drove inquiries which eventually converted to sign ups). Considering both of these dynamics captured the full impact of marketing on each KPI. In addition to a challenging business model, the client used last click attribution institutionally. As a result of biased results, they cut OLV because of what was perceived as bad performance. Comparing our unified insights with their last click analyses highlighted major discrepancies in results. While looking at it through a unified lens, OLV turned out to be one of the most efficient tactics.
Focusing the research only on the last stage in the customer journey would have understated the impact of our client’s marketing. With Unified Measurement we gained a full understanding of marketing’s true impact in the context of all other factors and captured both the direct and indirect effects of marketing on second-stage KPIs such as web activity, natural search and branded search. Opportunities uncovered represented 6% growth in inquiries and up to 3% growth in sign ups with the same media spend.
A potential increase in marketing budget would lead to a further growth opportunity throughout the customer journey of growing inquiries by 20% and sign ups by 5%.