I was curious about something
Posted: Sat Dec 07, 2024 9:18 am
Maybe not purchase ready, but it sure down well got me to where I wanted to be at some point in time. Totally. Now we gobble up those retargeting buttons by just by clicking on it and seeing that ad constantly. But for me, as a consumer of anything from clothing through any of the retail item, I kind of like a preference.
I'll click on an advert just so I know it'll come back to me. Maybe I'll be purchase bay new zealand telemarketing data ready at that point. So does it allow for an improved customer experience, or am I the anomaly here?
Michael
I think it can, but I don't think it's the rule. I don't think by definition this actually improves the customer experience. I also think you have to account for all interactions of your brand, and it's literally impossible to me telling you about, a new app that I've used is not trackable. Yeah, right. And so that word of mouth will simply get lost.
There was a famous Lululemon, study, right? Where, they, in their attribution modeling because it's digital first. They actually miss the in-store experience. Sure. And so with that, they were attributing excessive budget to to, experiences that weren't actually core to the buyer. Yeah. And so if a buyer is going in there trying on the clothes, that whole part of the funnel was missing, even if they're going home then and, and purchasing.
And so in a perfect world with perfect attribution, I think we could I don't think we're anywhere close today though.
Ryan K
Yeah, yeah. And not only do I not think we're close, I think we're getting further away from that perfect world and and again, like, it's becoming more expensive to try to accomplish that perfect world. Another example, to your point, a friend of mine is in, a slack group that's just for quotes. And there's maybe 150 total CMO was maybe last like 100 CMAs in this one channel or marketing leaders in general, I guess I should say.
And all the time it's, hey, does anyone have a recommendation for Ax tool? Yeah. Okay. Well, if people are just tossing links back and forth to each other inside of a private slack instance, how are you attributing that? Are you attributing that that might be the most impactful conversion point? Yeah, that exists is a bunch of my peers and a private group are advocating for the usage of a certain software or a certain tool, but you have no way to attribute that direct traffic, which is what it would end up being.
And your Google Analytics would just be a direct visit to your site and someone comes through. And so all those types of things, I think are continuing to. And you can't, you can't documented the entire existence of someone's experience with you because that experience is becoming more diverse, more complex, more private, more public, and all these different ways that it's like, how would you even, how would you even people still try, but how would you, even in it, achieve that perfect world if you want it to?
So what's what is the ideal version of that experience? Now, I'm not saying I'm representative of every one of my customers. Yes, we need data. We should always be looking for more data. But to a degree, I think creating great experiences just needs to be talked about as what would the ideal experience be? Let's focus on just creating an ideal experience for our customer and then start tracking it, not let's start tracking and then double down on whatever the tracking is telling us to create another experience.
Ryan
I think you're getting back to why we believe that marketing attribution has failed us all. And that's the title of today's episode. It's not that we weren't all uniquely take that stance, but I think we're starting to unpack why it's gotten the way of things, because even my little use case, I like to click on an ad, so I see it continually.
Again, there should be a diminishing returns on every click that I take, because I have shown a lack of an ability to get over the finish line. There is no multi-touch attribution model that is diminishing. My first click at $2. Then we'll ride into the action a dollar for that click. And now to my third or fourth or fifth click.
That's a blind spot. And I think that we're talking in circles about those blind spots. But Michael, where do you think is the biggest blind spot within just in a first touch or multi-touch or last click even model?
Well, I think it's, it's easy first and last. And that's where we've always started. But I think there's touch points in between that are either invisible, like in a slack channel. Like maybe you've been looking at software and then, you know, your friend who's also a trusted advisor, says, I use that, okay, that's going to put me over the line.
It's not an experience that a brand can say create. Or it may be channels that are less, trackable or less populated. So it might be like I saw some good insights on their social media. And then I later on decided to to visit or an email got me and reminded me that I was checking out. That's all for now
I'm going to go back into it. That's not a channel that you're then going to necessarily see on every model at volume and invest in, but it may be an essential touchpoint to conversion that in the first and last touch and even multi-touch becomes really hard to identify unless you're looking through it at different vantage points. And I think that's what we miss through over indexing on a single model for a company.
Ryan
I'll click on an advert just so I know it'll come back to me. Maybe I'll be purchase bay new zealand telemarketing data ready at that point. So does it allow for an improved customer experience, or am I the anomaly here?
Michael
I think it can, but I don't think it's the rule. I don't think by definition this actually improves the customer experience. I also think you have to account for all interactions of your brand, and it's literally impossible to me telling you about, a new app that I've used is not trackable. Yeah, right. And so that word of mouth will simply get lost.
There was a famous Lululemon, study, right? Where, they, in their attribution modeling because it's digital first. They actually miss the in-store experience. Sure. And so with that, they were attributing excessive budget to to, experiences that weren't actually core to the buyer. Yeah. And so if a buyer is going in there trying on the clothes, that whole part of the funnel was missing, even if they're going home then and, and purchasing.
And so in a perfect world with perfect attribution, I think we could I don't think we're anywhere close today though.
Ryan K
Yeah, yeah. And not only do I not think we're close, I think we're getting further away from that perfect world and and again, like, it's becoming more expensive to try to accomplish that perfect world. Another example, to your point, a friend of mine is in, a slack group that's just for quotes. And there's maybe 150 total CMO was maybe last like 100 CMAs in this one channel or marketing leaders in general, I guess I should say.
And all the time it's, hey, does anyone have a recommendation for Ax tool? Yeah. Okay. Well, if people are just tossing links back and forth to each other inside of a private slack instance, how are you attributing that? Are you attributing that that might be the most impactful conversion point? Yeah, that exists is a bunch of my peers and a private group are advocating for the usage of a certain software or a certain tool, but you have no way to attribute that direct traffic, which is what it would end up being.
And your Google Analytics would just be a direct visit to your site and someone comes through. And so all those types of things, I think are continuing to. And you can't, you can't documented the entire existence of someone's experience with you because that experience is becoming more diverse, more complex, more private, more public, and all these different ways that it's like, how would you even, how would you even people still try, but how would you, even in it, achieve that perfect world if you want it to?
So what's what is the ideal version of that experience? Now, I'm not saying I'm representative of every one of my customers. Yes, we need data. We should always be looking for more data. But to a degree, I think creating great experiences just needs to be talked about as what would the ideal experience be? Let's focus on just creating an ideal experience for our customer and then start tracking it, not let's start tracking and then double down on whatever the tracking is telling us to create another experience.
Ryan
I think you're getting back to why we believe that marketing attribution has failed us all. And that's the title of today's episode. It's not that we weren't all uniquely take that stance, but I think we're starting to unpack why it's gotten the way of things, because even my little use case, I like to click on an ad, so I see it continually.
Again, there should be a diminishing returns on every click that I take, because I have shown a lack of an ability to get over the finish line. There is no multi-touch attribution model that is diminishing. My first click at $2. Then we'll ride into the action a dollar for that click. And now to my third or fourth or fifth click.
That's a blind spot. And I think that we're talking in circles about those blind spots. But Michael, where do you think is the biggest blind spot within just in a first touch or multi-touch or last click even model?
Well, I think it's, it's easy first and last. And that's where we've always started. But I think there's touch points in between that are either invisible, like in a slack channel. Like maybe you've been looking at software and then, you know, your friend who's also a trusted advisor, says, I use that, okay, that's going to put me over the line.
It's not an experience that a brand can say create. Or it may be channels that are less, trackable or less populated. So it might be like I saw some good insights on their social media. And then I later on decided to to visit or an email got me and reminded me that I was checking out. That's all for now
I'm going to go back into it. That's not a channel that you're then going to necessarily see on every model at volume and invest in, but it may be an essential touchpoint to conversion that in the first and last touch and even multi-touch becomes really hard to identify unless you're looking through it at different vantage points. And I think that's what we miss through over indexing on a single model for a company.
Ryan