Cross channel analytics is more than measuring online campaigns at subatomic levels. If you’re ignoring offline marketing ROI — or just ignoring offline altogether — you’re facing disastrous results. Join this free VB Live event for insight into what cross channel really means, and why you can’t afford to go — or stay — all-digital.
“Everything you used to do to be successful as a company isn’t good enough anymore,” says Michael Healey, CEO of Yeoman Technologies. “Because inevitably what people do is they overanalyze the digital. Massively.”
Which sounds completely counterintuitive — the promise of online marketing is the 360-degree view into every granular moment of your online marketing campaigns and every time a customer blinks, anywhere.
“Great. That does not tell me the story. That’s not cross-channel,” Healey says. “That only tells me the digital story.” Real cross channel, says Healey, is all of the digital silos integrated with all of the offline activity that occurs, whether you’re a retailer, a service provider, or a B2B SaaS.
“Real cross channel analytics means putting the same level of ROI focus in offline marketing as you do in online — even if you’re pure play,” he adds. “Especially if you’re pure play.”
Ecommerce is not a “thing,” he adds. It’s part of sales. And marketing is not digital marketing, and then everybody else. Marketing is marketing — but too many companies lose sight of the full picture.
“Remember J.C. Penney? That’s one of my favorite crash and burn stories,” says Healey. “J.C. Penney seven years ago announced to the world that they were dropping catalogs. All they looked at was how expensive catalogs were and how well digital was doing, and never cross-referenced how many people that get catalogs actually buy online.”
The company cut what they thought was just an expense, and sales dropped dramatically. They’re only now recovering. In the meantime, smart ecommerce companies like Birchbox and One Kings Lane actually started sending out mini-catalogs.
“The hard ROI of a catalog is, ‘Did I buy using a catalog coupon code?’” Healey says. “The reality is, if you elminate a catalog, how are you going to make up for the fact that people aren’t aware of your name anymore?”
While use cases are wildly different across industries, retailers and B2B companies aren’t the only ones who need to integrate offline ROI, Healey says.
“Pure play digitals, they think they’re pure play,” he says. “But the connectivity is still there. I might be an app, or I might be a tool, or I might be some type of service that’s online, but ultimately my sphere of influence, my opportunity to sell, is not one hundred percent online.”
You need to think about how your digital presence can be penetrated more offline, from conventions to event sponsorships to traditional media placements — and then start tracking.
So how do you create a holistic marketing strategy that leverages all your channels, online and off?
“People always say they need digital scientists,” Healey says. “But you know what? You’ve got to get out of the digital and get into the reality of how people are behaving, and start to have a discussion of what’s that worth. What’s a call worth? What about an email send? An email open? An onsite visit? Someone at a trade show or event?”
A cross department team needs to build up and agree upon an attribution model that both the stats geeks and the classic-flavor marketers understand and agree upon. “It’s not as difficult or mathematical as people think,” Healey adds. “Oftentimes it’s just a matter of the different sales channels talking it through.”
To learn more about how every company in every industry can leverage the power of real channel integration and the ROI of every touchpoint, online and off, don’t miss this VB Live event featuring Healey as well as Raj Koneru, CEO of Kore.
Don’t miss out!
In this VB Live event, you’ll:
- Learn how to factor in different contexts across channels
- Measure ROI while honoring the platform differences and measures for success
- Craft a rock-solid story to help the C-suite understand the complexity of cross-channel acquisition
- Leverage your cross-channel data to determine your paid media strategy
- Michael Healey, CEO, Yeoman Technologies
- Raj Koneru, CEO, Kore
- Wendy Schuchart, Analyst, VentureBeat