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Brands: Why you need converting and non-converting data
Some experts point to conversion data as the most important for etailers. The problem with this kind of thinking is that each consumer follows a different path to purchase, and while Customer A may convert soon after seeing an ad, Customer B may need to see multiple ads or even engage with a brand on social media prior to purchase.
Kristina: Why should brands look at the data from both converting and non-converting paths to purchase?
Josh Manion, CEO, Ensighten: In marketing it is critical to understand what marketing tactics and levers work as well as which don't work, especially when it's time to decide where you should spend that next $1 to drive more business. That is why the analytics community is focused on techniques like pathing and attribution. As marketing becomes more data-driven, the efficiency of spend and the optimization of marketing campaigns and promotions become more important.
Kristina: What kind of data can be gleaned from those non-converting paths?
Josh: Dissecting each marketing activity and isolating what generates engagement and ultimately influences and drives business allows all the groups that contribute to the final marketing product to tweak and fine tune their contribution. From the analytics and segmentation, to the message and offer, understanding what triggered a response and a success allows marketers to refine their programs. This will result in stronger campaign performance and more business over time.
More from Josh and Ensighten later this week, including why brands need to take another look at viewability.
Image via Shutterstock
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