Tools to Help Marketers Stretch Their Budget
When a prospect enters her credit card online and hits “buy now,” chances are it isn’t her very first visit to the site or touch point in the sales process. According to Jeffery McCollum, Founder of CAKE, a digital marketing company, a sales path rarely leads directly to conversion.
“The client might see a display ad and not do anything. They might get an email and not do anything. But then they go to Google, search for the product, and purchase it,” he explained. “There’s touch points leading up to that sale, but marketers only count that Google click. But it’s really important to understand how effectively marketing dollars in those other channels contributed to the actual sale.”
Watch the whole interview here:
Fortunately, new technology is making this achievable, and it’s why affiliate marketing is becoming so popular. According to McCollum, it’s one of the most effective uses of marketing dollars because marketers can track precisely where prospects are coming from and reward affiliates who send them their way.
“It’s a huge opportunity for ecommerce marketers. They’re only paying for performance against any type of metric that I can measure,” he said.
This technology can give marketers the insight they need to make the most of every marketing dollar spent.
“Real-time analytics is providing real data and real insights to enable marketers to make decisions about (spending their marketing dollars) immediately,” he added. “It’s no longer 30-day old data.”
You can follow Andrea Johnson, Copywriter, MECLABS Institute, on Twitter @IdeastoWords.
You might also like
The MarketingSherpa Ecommerce Benchmark Study
Ecommerce Research Chart: ROI on marketing spend [MarketingSherpa Chart of the Week]
Ecommerce Research Chart: Which channels are companies investing in? [MarketingSherpa Chart of the Week]
Categories: Marketing ecommerce, sales, sales cycle, Sales Process
