This project was in response to a question that stumps every marketer at some point in their career, “How many sales of ‘x’ does a Facebook like get me?”. I was asked this a number of times by my CEO, CFO, and every other C-level executive. The answer is never black and white – and not because there isn’t an answer, but because the way we shop today is not always the same. Shoppers no longer shop in linear behaviour. They may hear about a brand, maybe see it a few times via advertising channels, maybe eventually Google it one day, then do some research, get recommendations, and do a whole lot of circular motions before finally deciding to check-out. Thankfully, with the technology of tracking and tagging today, we are able to follow most shoppers from their first online touchpoint through to an e-commerce sale. However, this becomes a whole different ball game when the conversion to sale does not happen online.
This particular brand wanted to identify their MROI on in-store conversions without (at the time) the presence of a working CRM system. Up for the challenge, I requested all marketing spend by channel (both traditional and digital) by month from each market. I layered this data with campaign results and website analytics, along with monthly sales reports. The result included the ability to identify trends in marketing spend vs. spikes in sales, marketing cost per sale, and highlighted which marketing channels worked best vs. those that didn’t have an impact.
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