By Shilpi Sharma Posted March 22, 2016 In Cross-channel, Last click attribution, Media Mix
OVERVIEW A leading online platform that lets people borrow cash and put up luxury watches, art and other fine goods as collateral, with $50+ million of lending in United States & UK, wanted to optimize its media budget to achieve business goals.
CHALLENGE The Client partnered with Kvantum to measure the impact of its primary business drivers, including marketing and media tactics and how they interact. Client was using last click attribution and was not able to quantify offline marketing effects as well as the cross-channel effects of various marketing channels. Kvantum helped them in marketing attribution as well as in quantifying the lag effects of marketing tactic on a sales outcome.
KVANTUM’S ANALYTICS APPROACH Kvantum modeled the effect of marketing spend on new applications from direct channels, and non-brand search channel for US & UK region. Marketing channels included:
Through Kvantum Evolution (our Attribution platform), we used a top down (ie. econometric approach) and bottom up (using cookie level data on website) approach to identify causal relationships between outcomes (e.g. purchase funnel and revenues) and marketing, along with other drivers based on observed behaviors. This approach accounts for the influence of marketing on intermediate outcomes – such as organic search queries, applications, registrations, brand awareness, etc. – by uncovering the full impact of the different marketing tactics.
#1 Attributed Visits Earlier client was assigning all the visits to 4 marketing tactics based on the number of clicks. Kvantum attributed total number of visits to 15 different marketing tactics touched by customers during the assessment time period.
#2 Attributed Memberships Earlier client was assigning credit for “Product Memberships” to 3 marketing tactics. Kvantum attributed total memberships to 13 different marketing channels touched by customers during the assessment time period.
#3 Direct Channel Applications Attribution Kvantum provided detailed cross-channel interactions between non-Brand Search and rest of the marketing channels.
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