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Marketing

Attribution vs. Contribution

By Marketing, Media, Search, Social, Technology, Thought Leadership

The Impact of Platform Over-Attribution on Marketing

Attribution vs. contribution is a significant issue that isn’t confined to just one industry. The epidemic of platform over-attribution affects multiple categories, creating a widespread problem for marketers. Without a single-source of truth to assess campaign success and results the marketer must decide how much they choose to “believe” the conversion reporting coming from the ad platforms.

For mobile performance marketers, especially app developers, the big three—Apple, Google, and Meta—operate with nontransparent systems. These platforms reach billions and often claim credit for conversions linked to ads that were barely seen, sometimes stretching back weeks. Even developers with declining sales might find platform reports boasting of increasing success, a situation highlighted by two frustrated mobile game developers.

Grocery brands face even harsher realities. The rise of retailer-owned media networks, which function like walled gardens, has led to a scramble for attribution. Retail networks are eager to take credit for every sale, often leading to marketing data that seems completely detached from actual business performance.

Google, Meta, Amazon, Walmart, Target, Kroger, and numerous smaller retail networks are frequently self-attributing conversions without a logical connection to a brand’s seasonal or monthly business trends. For instance, a brand might consistently see a sales dip in April or a spike just before Valentine’s Day. Ideally, ad platform attribution should reflect these patterns. However, reports often show rising ROAS (Return on Ad Spend) as platforms either enhance their targeting or claim full credit for sales they only minimally influenced.

This misalignment directly impacts a brand’s profit margins. Brands end up paying more for sales attributed to ad campaigns compared to organic conversions. The discrepancy between actual sales data and platform attribution can distort marketing strategies and budgets, leading to inefficiencies and increased costs.

In summary, the over-attribution by ad platforms creates a significant challenge for both mobile app developers and grocery brands, emphasizing the need for more transparency and accuracy in reporting and attribution models.

How AI Will Streamline Businesses

By AI, Content Marketing, Marketing, Media, Professional Services

As an entirely online business, the paramount objective is to drive traffic to your website and products. Achieving optimal SEO and implementing keywords on your site is crucial, but manually integrating them can be time-consuming. Thankfully, in today’s era, there’s a multitude of AI copywriting tools at your disposal. These tools swiftly generate SEO-friendly blogs, product descriptions, and other content, all tailored to your specified keywords or discovered across the web.

This not only accelerates content creation but also unlocks opportunities for experimentation and optimization. In fact, our users often witness a 30-40% enhancement in results when conducting various split tests with programmatic advertising. The same potential for improvement applies to AI and SEO. For instance, you can run a split test with multiple CTAs and promptly identify which variations resonate better with your consumer base. Allowing AI to handle the bulk of copywriting empowers you to operate more efficiently and infuse creativity into your content.

Imagine a future where every page a customer visits on your site is dynamically tailored to their preferences. This future is not far off! More website creation tools are integrating AI systems into their designs, and soon we’ll witness entire websites being constructed in real-time when a customer clicks on an ad.

Professional Visuals

An integral aspect of compelling product descriptions is high-quality imagery. Traditionally, this necessitates hiring professional photographers, scheduling photo shoots, and potentially incurring substantial costs for all your offerings. AI image generation simplifies and expedites this process, allowing you to virtually place your product against any background in any desired style.

This capability extends beyond product photos; AI can also aid in crafting logos, color schemes, style guides, and other visual elements that elevate your marketing materials across the board. These tools enable a single graphic designer to produce the output of an entire team, resulting in significant time and cost savings as you establish your brand.

Workflow Streamlining

Time-saving stands out as the primary advantage of integrating AI into your workflow. Automating tasks accelerates processes, freeing you to address more intricate matters. Some of these tasks, no matter how minor, can be seamlessly handled by AI integrated directly into your website. For instance, automated follow-up emails can be generated and sent to customers who abandoned their shopping carts on your site, infusing a personalized touch in the retargeting phase while you focus on other priorities. The advanced AI technology employed by Genius Monkey even extends to retargeting consumers who left your competitor’s pages!

Leveraging AI to identify patterns, trends, and customer preferences provides invaluable insights into your consumer base. This empowers you to advertise more effectively today and adapt to their evolving desires and needs in the future.

The Key to Digital Marketing; Don’t Sell, Know Your Customer

By Marketing, Media

In today’s digital advertising landscape, customers are empowered and informed. They want to make decisions based on thorough research and seek out brands that provide value and a superior customer experience. As a marketer, it’s essential to understand this shift and adapt your strategies accordingly. Instead of pushing sales-oriented content, focus on providing educational resources that empower customers to make informed choices.

To truly connect with your customers, you need to understand their needs and experiences. Don’t assume you know them better than they do. Take the time to get to know your customers on a deeper level. This knowledge will enable you to create targeted resources that address their specific pain points and offer valuable insights. From informational videos to e-books, podcasts to white papers, diversify your content formats to cater to different preferences. The more your customers learn from you, the more they will trust your brand.

Personalization is key in today’s competitive landscape. Offer a range of content and resources to cater to diverse customer preferences. Just as you wouldn’t serve only one appetizer at a party, don’t limit yourself to a single type of content. Provide a dessert table of information, spanning display ads, video clips, blogs, e-books, and user testimonials. By tracking user interactions and behaviors through robust analytics and attribution systems, you can segment your audience and tailor your educational resources to meet their specific needs.

Programmatic Advertising

Investing in programmatic advertising is crucial to stay ahead of the curve. With programmatic advertising projected to constitute a significant portion of digital display ad spending in the coming years, it’s essential to educate yourself and leverage the best programmatic systems available. Personalization, a strong user experience, and comprehensive resources have become vital in today’s marketing landscape, and our digital marketing agency is committed to helping you deliver on these fronts.

By truly knowing your customers and providing them with valuable, educational resources, you can establish trust, foster loyalty, and drive conversions. Remember, the key to making a sale is not pushing products but understanding your customers’ needs and empowering them to make informed decisions.

Amazon sales grew by 28% in 2009 during the “great recession.”

By Marketing

https://www.forbes.com/sites/bradadgate/2019/09/05/when-a-recession-comes-dont-stop-advertising/#547634bc4608

Forbes with some great tips for continuing to advertise during a recession. Although the natural inclination for advertisers is to cut back on advertising during a recession, those brands that maintain their ad budget and/or change their messaging can get a long-lasting boost in sales and market share.