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From Insight to Action - Kenshoo Webinar Featuring Forrester

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Presentation from the October 14th webinar presented by Kenshoo and featuring Forrester — From Insight to Action: Executing Successful Cross-Channel Attribution and Optimization.

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From Insight to Action - Kenshoo Webinar Featuring Forrester

  1. 1. 1 © 2014 Kenshoo, Inc. Confidential and Proprietary Information From Insight to Action: October 14, 2014 Executing Successful Cross-Channel Attribution and Optimization #Insight2Action
  2. 2. 2 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Webinar Instructions Audio Instructions •Listen via computer speakers and be sure the volume is turned up. •Still can’t hear the webinar? Tell us please!
  3. 3. 3 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Today’s Speakers Tina Moffett Analyst Forrester Doug Chavez Global Head of Marketing Research & Content Kenshoo #Insight2Action
  4. 4. 4 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Agenda •The Age of the Consumer •Survey Findings •Recommendations •Power of Advanced Attribution Models •Predictive Marketing Applications Beyond Attribution •Key Takeaways •Q&A #Insight2Action
  5. 5. © 2014 Forrester Research, Inc. Reproduction Prohibited 5 Agenda ›Empowered customers disrupt traditional measurement ›Cross-channel attribution is still in its infancy ›Organizations struggle to take action ›Marketers reap the attribution benefits ›Recommendations #Insight2Action
  6. 6. © 2014 Forrester Research, Inc. Reproduction Prohibited 6 Agenda ›Empowered customers disrupt traditional measurement ›Cross-channel attribution is still in its infancy ›Organizations struggle to take action ›Marketers reap the attribution benefits ›Recommendations #Insight2Action
  7. 7. A 20-year business cycle in which the most successful enterprises will understand and serve increasingly powerful customers Source: October 10, 2013, “Competitive Strategy In The Age Of The Customer” Forrester report The age of the customer A 20-year business cycle in which the enterpriseswill reinvent themselves to systematically understand and serveincreasingly powerful customers #Insight2Action
  8. 8. © 2014 Forrester Research, Inc. Reproduction Prohibited 8 In the age of the customer, individuals are always-addressable… #Insight2Action
  9. 9. © 2014 Forrester Research, Inc. Reproduction Prohibited 9 And they create data at every interaction point Source: July 22, 2013, “Mix Art And Science For Marketing Success” Forrester report #Insight2Action
  10. 10. © 2014 Forrester Research, Inc. Reproduction Prohibited 10 But they do not trust traditional, campaign-based marketing. #Insight2Action
  11. 11. © 2014 Forrester Research, Inc. Reproduction Prohibited 11 Marketing as we know it is experiencing a shift. Source: April 2014 “The Power Of Customer Context”Forrester report #Insight2Action
  12. 12. The spotlight is on measurement and analytics #Insight2Action
  13. 13. © 2014 Forrester Research, Inc. Reproduction Prohibited 13 Agenda ›Empowered customers disrupt traditional measurement ›Cross-channel attribution is still in its infancy ›Organizations struggle to take action ›Marketers reap the attribution benefits ›Recommendations #Insight2Action
  14. 14. © 2014 Forrester Research, Inc. Reproduction Prohibited 14 What do we mean by cross-channel attribution? Source: “Cross-Channel Attribution Presents a Clear Path to Marketing ROI” September 20, 2012 The practice of allocating proportional credit to all marketing communications, across all channels, that ultimately lead to the desired customer action. #Insight2Action
  15. 15. © 2014 Forrester Research, Inc. Reproduction Prohibited 15 Organizations leverage many channels to reach and grow customers Digital channels dominate those measured taking 8 of the top 10 spots Base: 106 marketers, advertisers, and customer insight professionals Source: A commissioned study conducted by Forrester Consulting on behalf of Kenshoo, April, 2014 “What channels are you currently using to drive marketing and media objectives? Which channels are included in attribution measurement?” Email marketing Online display advertising Referral marketing Paid search advertising Mass media Mobile display advertising Search engine optimization Affiliate marketing Paid social advertising Behavioral targeting advertising Magazines or newspapers Online video Owned social media Retargeting Mobile search Mobile apps Direct mail or catalogs Other events Currently using to drive marketing and media objectives Included in attribution measurement 87% 82% 81% 78% 76% 76% 75% 75% 73% 72% 72% 71% 71% 70% 68% 67% 65% 65% 50% 53% 50% 55% 43% 41% 46% 43% 48% 43% 45% 45% 44% 40% 40% 44% 38% 37% #Insight2Action
  16. 16. © 2014 Forrester Research, Inc. Reproduction Prohibited 16 Base: 106 marketers, advertisers, and customer insight professionals Source: A commissioned study conducted by Forrester Consulting on behalf of Kenshoo, April, 2014 But marketers still use basic attribution approaches to measure impact 77% of marketers moved beyond single touch attribution “What specific approach do you use to calculate cross-channel attribution?” First or last touchpoint receives all attributed credit Predefined rule-based attribution Self-defined business rules Advanced or algorithmic attribution 23% 35% 31% 11% #Insight2Action
  17. 17. © 2014 Forrester Research, Inc. Reproduction Prohibited 17 Few marketers measure cross-channel halo effects Base: 106 marketers, advertisers, and customer insight professionals Source: A commissioned study conducted by Forrester Consulting on behalf of Kenshoo, April, 2014 24% of marketers measure many channels and campaigns simultaneously “How are you measuring channel and campaign efficiency and effectiveness?” 41% 36% 24% We measure each channel and campaign separately We measure limited cross-channel and campaign effects We simultaneously measure many channels and campaigns #Insight2Action
  18. 18. © 2014 Forrester Research, Inc. Reproduction Prohibited 18 Marketers seek measurement help from their partners Base: 106 marketers, advertisers, and customer insight professionals Source: A commissioned study conducted by Forrester Consulting on behalf of Kenshoo, April, 2014 Only 15% of marketers use attribution specialists “Which vendor or partner do you currently use for your attribution measurement efforts?” My data management provider 17% My marketing service provider 16% My web analytics provider 15% My attribution specialist 14% My media buying platform 14% My digital/direct response agency 10% My tag management provider 8% My bid management platform 5% #Insight2Action
  19. 19. © 2014 Forrester Research, Inc. Reproduction Prohibited 19 Agenda ›Empowered customers disrupt traditional measurement ›Cross-channel attribution is still in its infancy ›Organizations struggle to take action ›Marketers reap the attribution benefits ›Recommendations #Insight2Action
  20. 20. © 2014 Forrester Research, Inc. Reproduction Prohibited 20 Marketers face many hurdles preventing actionable attribution insights What are the TWO largest obstacles preventing you from taking greater action from your attribution tool? Base: 106 marketers, advertisers, and customer insight professionals Source: A commissioned study conducted by Forrester Consulting on behalf of Kenshoo, April, 2014 #Insight2Action
  21. 21. © 2014 Forrester Research, Inc. Reproduction Prohibited 21 Agencies labor to alter media plans based on attribution What are the TWO largest obstacles preventing you from taking greater action from your attribution tool? Base: 106 marketers, advertisers, and customer insight professionals Source: A commissioned study conducted by Forrester Consulting on behalf of Kenshoo, April, 2014 #Insight2Action
  22. 22. © 2014 Forrester Research, Inc. Reproduction Prohibited 22 Agenda ›Empowered customers disrupt traditional measurement ›Cross-channel attribution is still in its infancy ›Organizations struggle to take action ›Marketers reap the attribution benefits ›Recommendations #Insight2Action
  23. 23. © 2014 Forrester Research, Inc. Reproduction Prohibited 23 Marketers want attribution to answer difficult questions Base: 106 marketers, advertisers, and customer insight professionals Source: A commissioned study conducted by Forrester Consulting on behalf of Kenshoo, April, 2014 “When evaluating attribution output and results, how important do you find each of the following?” 44% 47% 42% 47% 41% 46% 42% 48% 55% 47% 51% 19% 20% 25% 21% 28% 24% 28% 25% 20% 29% 33% Evaluating the time, cadence, and frequency of ads across the purchase path Inputting attribution results directly into real-time media bidding engines to optimize spend Analyzing the true impact of exposed vs. unexposed marketing and media Determining the value of your affiliate programs Measuring the influence of one channel on another, such as digital to offline conversions or display ads on paid search Calculating % attributed credit by channel, campaign, program, and tactic level Generating new customer insights based on path length, time between touch points, order of channels, etc. Analyzing which search terms and/or publisher sites are the most impactful Evaluating different creative, offers, or content versions Measuring incremental sales generated by channel, purchase paths, and/or touch points Changing media buys based on prior attribution results and analyze the impact Very important Critically important #Insight2Action
  24. 24. © 2014 Forrester Research, Inc. Reproduction Prohibited 24 Experience and greater channel measurement drives satisfaction Base: 106 marketers, advertisers, and customer insight professionals Source: A commissioned study conducted by Forrester Consulting on behalf of Kenshoo, April, 2014 Marketers are Very Satisfied with their current measurement efforts and ability to take action “How satisfied are you with your . . .” Very satisfied Completely satisfied 46% 17% 49% 18% Current measurement and insights efforts for your marketing and media channels? Ability to take action on your current attribution results and insights? #Insight2Action
  25. 25. © 2014 Forrester Research, Inc. Reproduction Prohibited 25 Speed to action improves satisfaction Base: 106 marketers, advertisers, and customer insight professionals Source: A commissioned study conducted by Forrester Consulting on behalf of Kenshoo, April, 2014 42% of marketers have the processes and technologies to act on their attributed results several times a day. “Once you have received your attributed values, how quickly can you adjust media buys based on the attribution results?” In real time through an automated process (in less than 35 milliseconds) 7% A few hours, and results can change several times a day 35% About one day 19% More than one day, but less than a week 11% About a week or longer 28% #Insight2Action
  26. 26. © 2014 Forrester Research, Inc. Reproduction Prohibited 26 Integration of attributed results into media buying platforms is desirable Integrating advanced attribution into bid management platforms allows marketers to optimize their digital spend without needing to make manual adjustments or monitor performance. If your attribution tool was connected into your bid management platform, how likely would you be to use it for at least portions of your media spend? Base: 106 marketers, advertisers, and customer insight professionals Source: A commissioned study conducted by Forrester Consulting on behalf of Kenshoo, April, 2014 68% are very or completely likely to use technologies that can rapidly adjust digitally media spends #Insight2Action
  27. 27. © 2014 Forrester Research, Inc. Reproduction Prohibited 27 Agenda ›Empowered customers disrupt traditional measurement ›Cross-channel attribution is still in its infancy ›Organizations struggle to take action ›Marketers reap the attribution benefits ›Recommendations #Insight2Action
  28. 28. © 2014 Forrester Research, Inc. Reproduction Prohibited 28 Source: A commissioned conducted by Forrester Consulting on behalf of Kenshoo, October 2014 ›Buildan attribution business case and get executive sponsorship. ›Diginto your partners attribution approach. ›Connect attribution insights into media execution engines. ›Test and experiment new marketing and media strategies to continually improve results. Recommendations #Insight2Action
  29. 29. Thank you Tina Moffett +1 212.857.0769 tmoffett@forrester.com #Insight2Action
  30. 30. 30 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Attribution helps us determinewhereto allocate spendand how much to pay. #Insight2Action
  31. 31. 31 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Static attribution rules treat all opportunities the same. Last Click Divide Evenly Time Decay U-Shaped #Insight2Action
  32. 32. 32 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Conversion Online 1 LAST CLICK Conversion in Store 3 TIME DECAY 100% 40% 35% 20% 5% Conversion by Phone 2 DIVIDE EVENLY 25% 25% 25% 25% #Insight2Action
  33. 33. 33 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Last click is a very outdated model. You need to understand the customer’s full journey to increase conversion across the full funnel and give proper credit to each channel.” —Online media director for an international educational software company Source: A commissioned study conducted by Forrester Consulting on behalf of Kenshoo, April 2014 “ #Insight2Action
  34. 34. 34 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Give credit where credit is due #Insight2Action
  35. 35. 35 © 2014 Kenshoo, Inc. Confidential and Proprietary Information SOCIAL SEARCH RETARGETING DISPLAY EMAIL PRODUCT LISTING ADS The world is dynamic. Not all customers or conversions are alike. #Insight2Action
  36. 36. 36 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Go from maze to model Cheap DVD Players Great Prices electronics.com Keyword 1 Keyword 3 Top DVD Players Great Prices electronics.com Best DVD Players Great Prices electronics.com Keyword 2 Research/Awareness 40% Consideration 10% 12% Intent to Purchase/Convert 38% Cheap DVD Players Shop now at Electronics.com #Insight2Action
  37. 37. 37 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Savvy marketers get sharper and nimbler withattribution measurement 49% are adjusting long-term media plans 38% are changing media spend 34% are comparing campaign performance measures 23% are taking some action in real-time Source: A commissioned study conducted by Forrester Consulting on behalf of Kenshoo, April 2014 #Insight2Action
  38. 38. 38 © 2014 Kenshoo, Inc. Confidential and Proprietary Information 68% of marketers said they would be very likely or completely likely to use technology to directly integrate attributed results into media buying platforms, if they were available. Source: A commissioned study conducted by Forrester Consulting on behalf of Kenshoo, April 2014 #Insight2Action
  39. 39. 39 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Planning and measurement tools embedded into the bidding platform Go beyond measurement to insights and action across your programs OptimizedBidding Multi-Channel Measurement& Attribution Scenario Planning, Forecasting & BudgetManagement #Insight2Action
  40. 40. 40 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Take advantage of every opportunity Predictive technology that understands and learns your unique business Event Driven Performance Predictive MediaForecasting Automated BidOptimization Leave nothing on the table. #Insight2Action
  41. 41. 41 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Inform your optimizations with data TV Commercial Seasonal Sale Snail Mail Campaign I have a big promotion coming up. How can I let the algorithm know that the conversion volume will increase? How can I see if my promotions impacted performance? #Insight2Action
  42. 42. 42 © 2014 Kenshoo, Inc. Confidential and Proprietary Information If I knew how investment alternativeswould pay out, I could boost performance. #Insight2Action
  43. 43. 43 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Challenge Identify obtainable spend and return levels Solution Scenario Planning •Understandoverall market potential •Buildforward-looking analysis •Chooseinvestment scenario #Insight2Action
  44. 44. 44 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Even when I feel comfortable witha forecast, we still have to find a way to act on it. #Insight2Action
  45. 45. 45 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Turn analysis into action Challenge Solution Budget Pacing •Translate predictions to strategy •Apply changes across portfolio •Repeat daily cycle #Insight2Action
  46. 46. 46 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Forecasting of an Entire Portfolio Within Minutes Unparalleled Accuracy in Forecasting by Integration with Dynamic Attribution Budget Pacing Syncs with Market-Leading Kenshoo Portfolio Optimizer Interface to Inform Engine of Market, Seasonal or Offline Events Automated Alerts for Both Opportunities and Threats Leverage predictive marketing technology #Insight2Action
  47. 47. 47 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Key Takeaways •Build an attribution business case and get executive sponsorship •Dig into your partner’s attribution approach •Connect attribution insights to media execution engines •Test and experiment with new marketing and media strategies to continually improve results •Become a proactive marketing organization by applying the power of predictive marketing in real-time to improve forecasting, optimization, and attribution #Insight2Action
  48. 48. 48 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Q&A #Insight2Action
  49. 49. 49 © 2014 Kenshoo, Inc. Confidential and Proprietary Information Download the Study Kenshoo.com/InsightToAction #Insight2Action

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