Purchase as the one true metric (part 2).

Here is the second part of my blog on purchase data as a true metric to evaluate marketing effectiveness.

http://www.eyc.com/blog/purchase-the-one-true-metric-part-2-of-2

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In part 1, I explained my reasoning for ‘purchase’ being the only true measure when it comes to digital marketing spend. Knowing if a person went on to buy your product is the only true measure of persuasive success and knowing if they have bought your product previously before you communicate to them, is one of the first steps towards more efficient targeting. Let’s now expand on this argument.

“The right place at the right time” is not enough

As suppliers we must meet our objective of driving sales by adding value, shifting units – basically, by making new things familiar and familiar things new. Furthermore it is our duty to deliver content that each and every person finds valuable. When we can tie their behavior to purchase data, we can start to deliver truly targeted messaging which consumers actually want to receive. We have wrestled our way to be in front of them so it would be rude and presumptuous of us to offer consumers anything less.

It’s often said that marketing is about being at the right place at the right time. I strongly believe that view is now obsolete. Rather…

It’s now about saying the right thing, to the right people all of the time.

Relevance is how we use our spend more efficiently and best persuade a digital consumer to talk about, share and crucially buy our products. Ensuring that the correct products, the correct communication and the correct price reaches the consumer, in real time, as well as letting someone physically act on this – either by adding a product to a basket or by loading a deal to a card – that is conversion that counts.

 

Slingshot – Mitch Vidler, Vice President of Strategy from Symphony EYC on Vimeo.

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