Rapid Fire Analytics Attribution Strategy
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Rapid Fire Analytics Attribution Strategy
- 1. Rapid Fire Strategy How Rackspace Uses EMM Attribution Techniques to Improve Marketing Goals Twitter: #SmarterCommerce | @IBMEMM
- 2. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation âą IBMâs statements regarding its plans, directions, and intent are subject to change or withdrawal without notice at IBMâs sole discretion. âą Information regarding potential future products is intended to outline our general product direction and it should not be relied on in making a purchasing decision. âą The information mentioned regarding potential future products is not a commitment, promise, or legal obligation to deliver any material, code or functionality. Information about potential future products may not be incorporated into any contract. The development, release, and timing of any future features or functionality described for our products remains at our sole discretion. âą Performance is based on measurements and projections using standard IBM benchmarks in a controlled environment. The actual throughput or performance that any user will experience will vary depending upon many factors, including considerations such as the amount of multiprogramming in the user's job stream, the I/O configuration, the storage configuration, and the workload processed. Therefore, no assurance can be given that an individual user will achieve results similar to those stated here. 2
- 3. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Speakers 3 Sameer Khan Http://www.keywebmetrics.com Senior Marketing Manager, Rackspace David Reed Senior Marketing Analyst, Rackspace Ravi Shah Product Manager, MPO
- 4. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation âWhat campaign channel combinations drive the highest lift?â Business Challenges Addressed by Marketing Performance Analysis Strategy Marketing Leaders Marketing Analyst CMO Marketing Manager And how do I divide credit?â âWhat influences conversions?â âWhat influences customers to migrate through the conversion cycle?â âHow am I performing against my forecast and what do I need to change to stay on track?â âHow can I strike the right balance between competing marketing objectives (e.g. revenue vs profit)?â âWhat is my optimal marketing mix under different scenarios?â 4
- 5. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Two simple reasons why accurate attribution is important Understand marketing ROI of past activities Plan and optimize future marketing mix 5
- 6. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Two simple reasons why accurate attribution is important Demonstrate marketingâs value Increase marketingâs value 6
- 7. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Rackspaceâs journey towards optimizing marketing mix Coremetrics Attribution Monthalizer modeller Attribution Modeler Marketing Performance Optimization 1. 2. 4. 3. 7
- 8. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation ABOUT RACKSPACEŸ Important Facts & Figures* 200,000+ CUSTOMERS 84,000+ SERVERS 5,500+ RACKERS 10 GLOBAL DATA CENTERS 120 + COUNTRIES 60% FORTUNEŸ 100 OF THE WE SERVE Annualized Revenue OVER $1 BILLION $$$$ 8
- 9. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Phase 1- Coremetrics Attribution Coremetrics Attribution Monthalizer modeller Attribution Modeler Marketing Performance Optimization 1. 2. 4. 3. 9
- 10. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Disconnected CRM and Web Analytics ⹠More than 50% of the leads are generated through chats and phone ⹠Rep enters the lead data into CRM manually ⹠Significant amount of time spent data cleanup and manually integrating systems Live Chat CRM 10
- 11. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Solution â Coremetrics CRM Integration ï± Significant reduction in report creation ï± Built-in 180 day backward looking attribution ï± Coremetrics UI accessibility Live Chat CRM 11
- 12. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Revenue Attribution for Utility Products ⹠Users can create a free Rackspace cloud account ⹠Pay per usage billing model starting at 10¹/GB/month ⹠Marketing Channel level ROI attribution was a major challenge Free Cloud Account Usage based billing 12
- 13. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Phase 2- Monathalizer Modeler Coremetrics Attribution Monthalizer modeler Attribution Modeler Marketing Performance Optimization 1. 2. 4. 3. 13
- 14. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Attribution Based Budgeting (ABB) ⹠Traditional Media mix methods are becoming obsolete ⹠Campaign attribution throws unidirectional media mix off the charts ⹠Big need for bidirectional budgeting models 14
- 15. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Solution: IBM Lifecycle Channel Attribution 40% 30% 10% 20% Order on 6th Visit 60% 15% 25% Order on 1st Visit Huge Variability Channel Mix 15
- 16. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Solution: Developing Attribution Based Budget Models Channel Mix Control Panel Confidential © Rackspace US, Inc. All rights reserved 16
- 17. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Phase 1 & Phase 2 helped answer key tactical questions Analysis Strategy Marketing Leaders Marketing Analyst CMO Marketing Manager And how do I divide credit?â âWhat influences conversions?â 17
- 18. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Phase 3- IBM Attribution Modeler Coremetrics Attribution Monthalizer modeller Attribution Modeler Marketing Performance Optimization 1. 2. 4. 3. Statistical attribution for better understanding of performance drivers 18
- 19. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Popular attribution methods Last Response â the last action taken by customer receives full credit (response) First Response â the first action taken by customer receives full credit (response) Average Credit - all actions that incurred a positive response within campaign window receive same credit 19
- 20. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation These attribution approaches yield mixed results⊠EMAIL DIRECT MAIL e SEARCH Last Response First Response .25 Equal â Response 1 1 Equal â Response.25 .25 Equal â Response .25 TV 20
- 21. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation They donât tell the whole story⊠EMAIL DIRECT MAIL e SEARCH awareness influencer influencer conversion TV .17 21
- 22. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation âŠstatistical attribution modeling can provide a more precise view of campaign value EMAIL DIRECT MAIL e SEARCH .31 awareness .17 influencer .14 influencer .38 conversion Statistical Attribution TV .17 22
- 23. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Statistical modeler identifies the true winner allowing marketers to efficiently invest marketing budget and avoid over/under spending LT winning offer SIRA winning offer #Occurrences Natural Search Referring Sites 208 Email Marketing Natural Search 26 Natural Search PPC D. 22 PPC D. Referring Sites 21 PPC C. Referring Sites 19 All Other MMC Vendors Natural Search 15 Email Marketing Referring Sites 14 23
- 24. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Attribution Modeler helps in understanding contribution of each channel What is the contribution of each channel in driving marketing ROI? ⹠True cross-channel attribution ⹠Statistically inferred response attribution (SIRA) prevents errors ⹠Efficient marketing budget investment and better ROI measurement 24
- 25. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Attribution Modeler provides 5 attribution approaches for a more precise view Display Ads Email Search Social Referral Call Center POS/ Kiosk Direct Mail Web Site Mobile Mass Media (future) TV Ads, Radio Spots, Billboards Cross-channelAttributionviaMarketingPerformanceOpt. DigitalAttributionviaDigital Marketing AttributionManagement AttributionModeler InteractionHistory Marketing performance measurement ï§ KPI measurement across channels and programs â Cost and Revenue â Return on Investment â Number of Responses â % Response â Number of Responders â % Responders â Average Revenue per response ï§ Attribution comparison â SIRA (Statistically Inferred Response Attribution) â Cross-channel last touch â Cross-channel first touch â Cross-channel equal credit â Direct Attribution Attribution Engine 25
- 26. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Phase 3 helped understand cross-channel performance âWhat campaign channel combinations drive the highest lift?â Analysis Strategy Marketing Leaders Marketing Analyst CMO Marketing Manager And how do I divide credit?â âWhat influences conversions?â âWhat influences customers to migrate through the conversion cycle?â 26
- 27. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Phase 4- Marketing Performance Optimization Coremetrics Attribution Monthalizer modeller Attribution Modeler Marketing Performance Optimization 1. 2. 4. 3. Data-driven marketing mix allocation 27
- 28. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Data-driven Strategic Marketing Planning 28 Uncover the optimal sequence of future actions Determine the value of marketing touch
- 29. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Marketing Performance Optimization Maximize marketing ROI by optimizing marketing investment and improving marketing operations Current capabilities New capabilities ï§ Tactical focus ï§ Deliver insights about past ï§ Strategic focus ï§ Recommend concrete future actions 29
- 30. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Data-driven Strategic Marketing Planning Interaction History Market Mix Analysis (Rich visualizations ) Marketing Performance Reports Customer Micro- segmentation Attribution Modeler Scenario Planning Marketing Performance Forecast Performance Forecaster Optimized Marketing Mix Budget Optimizer 30
- 31. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Scenario Planning and Marketing Mix Analysis Allow users to create what-if scenarios and deliver data-driven analytics to optimize marketing mix under each scenario Gold $12,000 39% Silver $10,000 33% Other $8,500 28% Marketing Mix By Segment - Scenario A Gold $11,000 36% Silver $9,000 30% Other $10,500 34% Marketing Mix By Segment - Scenario B $30,500.00 $32,500.00 $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 Scenario A Scenario B Marketing Mix - By Channel Social Mobile Web eMail Direct Mail 31
- 32. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Marketing Performance Optimization Vision Leverage Big Data and Smarter Analytics to maximize marketing ROI across channels 32
- 33. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation Sameer Khan / David Reed âą Sameer.Khan@rackspace.com / David.Reed@rackspace.com âą Rackspace âą Senior Marketing Manager / Senior Marketing Analyst âą @sameerkhan / @davidreed Ravi Shah âą ravishah@us.ibm.com âą IBM âą Product Manager, MPO âą @shahravi Follow us on Twitter for latest product updates, etc. âą @IBMEMM Questions and Answers âŠ. 33
- 34. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation © IBM Corporation 2012. All Rights Reserved. IBM, the IBM logo, ibm.com are trademarks or registered trademarks of International Business Machines Corp., registered in many jurisdictions worldwide. Other product and service names might be trademarks of IBM or other companies. A current list of IBM trademarks is available on the Web at âCopyright and trademark informationâ at www.ibm.com/legal/copytrade.shtml. Copyright and Trademarks 34
- 35. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation âą Go to summitsmartsite.com from your mobile device or log on to SmartSite at any Kiosk at the event: âą Select the Survey icon âą Complete the surveys for the sessions you attended âą Submit your feedback We appreciate your feedback. Please donât forget to fill out your evaluation Thank you for joining us! 35
- 36. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation ï§Join us on Thursday 10:45 am for session of Marketing Performance Optimization ï§Visit the Smarter Commerce demos in the Solutions Center ï§Schedule an Executive One-on-One and spend time with a subject matter expert at Meet the Experts ï§Set up your Twitter account at the Social Media Command Center ï§Sign up to be a reference at our Client Reference Lounge ï§Participate in our Hands-on Labs and Certification Testing Find out more⊠Check SmartSite from your phone, computer, or on-site kiosks for details on these programs and more.
- 37. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation37
- 38. Twitter: #SmarterCommerce | @IBMEMM© 2013 IBM Corporation 38 Understand each customer as an individual more than a demographic, more than a segment.
Editor's Notes
- In this presentation we will take you through four phases of our attribution progress.
- Before I jump in to the attribution strategies. Here is a quick introduction to Rackspace. We are a global hosting and cloud computing company with 10 worldwide data centers supporting 200,000 customers
- Phase 1 is attribution using coremetrics integration.
- At rackspace we acquire customers through online shopping cart, chat and phone calls. Our biggest attribution challenge was Visitors who become lead through chat. As the visitors initiate a chat the sales rep takes their contact information and enters into sales force. along with a unique identifier cookie we call it Rackuid.Due to this manual transfer of the information the marketing touch point to lead attribution is lost.
- To overcome this challenge we worked with IBM professional services team to integrate sales force with coremetrics. With the help of this integration we no have full visibility on the marketing channels driving leads.
- The challenge for the customers created through our shopping cart is different. Since most of our cloud products are pay per use utility based the revenue on purchase is zero dollars. To solve for revenue attribution we used coremetrics multichannel import functionality and connected offline revenue data with web analytics data giving us visibility to the true ROI of our cloud marketing programs.
- For the phase 2 I would ask my senior analyst David Reed to present the details.
- With the help of the Coremetrics attribution we are now able identify the conversion influencers and assign credit to offline revenue.
- Change icons
- Hereâs an example of all the approaches First response gets 100% of the credit â shown by a 1Last response gets 100% of the credit And the multi credit approach⊠gets .25 for each campaign tacticâŠBut thereâs a better wayâŠ
- Interestingly, key insights pops up when you look at the cross channel performance. Notice how even though the winning offer is Natural search, Sira gives credit to Referring sites. Similarly, Natural search is winning over other campaigns.
- This insight has helped us justify our marketing dollars investment in content marketing and other SEO activities.
- Analytics, Lifecycle, Search, Impression Attribution and ExploreAnalytics / Explore â mostLifecycle - organizes your analytic data into custom customer milestones and provides drill-down metrics for eachÂ
- With the SIRA attribution we are becoming smarter in investing marketing dollars on the right channel. We also have intelligence on the true channel attribution and customer conversion cycle.
- To summarize, what we have learnt from our experience that attribution that it is a journey and not a destination. You start with one attribution project complete it and move on to the next challenge. We started with integration and as we progressed the next challenge was more complex than the previous one. requires stronger partnerships with your analytics vendors, data scientist and subject matter experts. In addition, it requires more sophisticated way of dissecting your data.