Tying In-Store Traffic Counting To Advertising Attribution
Over the past few years, attribution modeling has become an essential tool in the modern marketer's toolkit.
Attribution modeling allows a marketer to look at the entirety of media they use to market to their customers, and determine what specific components of that entire media universe ultimately contributed to a goal, such as a sale or traffic.
An Attribution Modeling Example
For instance, a consumer that purchases an HDTV at a consumer electronics retailer may have started that purchase decision when they first saw an advertisement in a local newspaper. Then they may have visited that consumer electronics retailers' website to acquire more information about features, pricing and delivery options. Then they may have been retargeted with display advertising on the websites they visit for the next few weeks. Finally, they may have seen one further advertisement on TV that ultimately drove them to the store to make the purchase.
In the old world of marketing and advertising, the sale would have been attributed entirely to that last TV ad, which was the last interaction that consumer had with media. In the new world, however, a properly constructed model would split attribution in different amounts amongst the newspaper ad, the website visit, the retargeting ads and then finally the TV advertisement.
Of course, this entire chain of events needs to be properly instrumented so that a marketer can track in aggregate the actions of thousands of consumers in context of both hundreds of marketing media and hundreds of stores (both online and offline) where product can be purchased. The marketer would then flow this data into their attribution model to determine how each media component ultimately contributed to sales. This isn't necessarily easy when a sale is consummated online, and it becomes even more difficult to achieve effectively when the sale occurs offline.
Out-Of-Store Attribution For In-Store Sales
In an out-of-store/online-to-store (O2S) attribution model, we can think of the store experience itself as the last interaction leading to a sale that happens in store. In fact, when adding media such as point-of-purchase displays and window displays, it's clear that there are further deliberate marketing touchpoints within a retail store that contribute to its role as that last interaction.
Even more important, however, is being able to instrument the store for traffic to measure the store's ability to drive conversion, as well as out-of-store and online media's ability to drive in-store traffic and subsequently conversion. In the absence of this information, properly measuring the attribution within a multi-channel campaign in an O2S scenario becomes nearly impossible.
Therefore, highly accurate traffic counts at all store entrances is essential for closing the attribution measurement loop in O2S scenarios. ShopperTrak is the global leader in providing highly accurate traffic counts via our Managed Service people counting system. But we now do much more than that for marketers working to optimize their attribution models.
ShopperTrak Tools For Marketing Attribution
ShopperTrak understands the challenges that marketers face when trying to connect out-of-store media with in-store traffic and conversions to properly determine attribution. Our newly released reporting portal includes a marketing dashboard that allows marketers to enter campaigns by date and region(s) and then track changes in in-store traffic and sales to understand which media and campaigns are successful in driving traffic and sales. This data can then flow into a marketer's attribution model to complete the calculation of which out-of-store media should receive attribution for driving in-store traffic and sales.
In addition, ShopperTrak is also launching a host of in-store analytics services that let marketers drill down to category-level traffic to understand how the media decisions they make lead to in-store traffic and conversions within specific categories.
To learn more about ShopperTrak's newly released interior analytics and reporting portal, including the marketing dashboard, contact us today.