Leveraging Fractional Attribution to Increase Sales
Can digital drives sales online and at retail?
A leading telecom client engaged the IMM team to quickly and sustainably increase their overall sales. Our team formulated a digital media strategy rooted in real-time data that delivered dramatic results within the first quarter following launch.
Utilizing our full-funnel attribution technology we estimated to have saved approximately $1MM in “working dollars” over the prior campaign due to reduced media inefficiency, while delivering increased reach at the same time.
Prior to this new digital media strategy challenge, the client had to make critical marketing decisions based on an incomplete feedback loop. Sales reporting was either fragmented due to receiving feedback from individual marketing channels, or delayed due to media-mix modeling.
As the digital Agency of Record (AOR), we led the client to success with an always-on media strategy that leveraged fractional attribution and real-time programmatic buying.
How did we do it?
We first had to develop a comprehensive media strategy that ensured each impression contributed fully to down-stream sales. IMM implemented fractional attribution, also known as full-funnel attribution, to guide optimizations to increase total sales while simultaneously lowering the cost-per-sale dramatically. These efforts resulted in a nearly 40% reduction in cost-per-sale.
Our team also analyzed and vetted multiple solutions but landed on a customized solution based on Visual IQ’s platform in order to accommodate the complex nature of our client’s digital-to-retail needs. We demanded faster reporting from Visual IQ to enable real-time optimizations, such as the ability to update data flows between IMM and Visual IQ and multiple lookback windows to examine sales performance over short-, medium- and long-term timeframes.
What is the most effective media mix?
Based on the challenge outlined by our client, the IMM team created a media plan that prioritized sales lift and cost efficiency. Within weeks of launch, initial performance data indicated a swift shift in strategy was needed. Display spend was maintained, but desktop SEM budget was shifted to more aggressive video and paid social testing.
Through constant optimization and analysis, the mix continues to evolve and we have diversified even further into video, mobile and social channels which allows us to reach incremental audiences and drive even more sales.