Marketing spend across industry sectors has a waste gap of 80%+/- in real costs. It is surprising that even today with the advances in IT enabled marketing, CRM, business intelligence, content management systems (CMS) and more, that the waste gap is so large. Capturing the "ROI After the click" fall squarely into the Waste Gap issue.
In many industries, and ICT brands and Car brands are no different in this respect, spend millions of dollars/euros to drive traffic to their web sites with ads, direct mail, banners, SOE, and tens of thousands more to measure this traffic. Yet 99.5% of all the visitors that come to these websites, many of them highly qualified visitors, leave without the brands ever knowing:
- who the qualified visitor is
- what he/she is interested in buying
- when
- for how much
.... or converting these visitors into sales.
- and shockingly over for every dollar sold on line, over 4 dollars are abandoned in the shopping cart
If these portals were a store, the manger would be fired by now for letting such hot customers leave without ever engaging them in a meaningful way - before the left the store (web site).
So many of us are distracted by gathering hits, and clicks data that we forget the more useful information around real, live customers. Two key metrics most often not collected are:
- Number of unknown visitors converted to known visitors
- Quality visitor traffic versus low quality visitor traffic, linked to traffic source, related to cost per "qualified" visitor
This raises many questions including:
1. What are the options available for brands to interact with qualified visitors before they leave the website?
2. How do you set metrics for what happens "After the Click"?
3. Are their ways to filter out campaigns that attract only volume and not quality?
4. Is it possible to do real time profiling of on-line visitors that can be matched with customer data warehoused data - in real time?
5. Should Google and others consider changing the basis for driving traffic i.e. based on quality rather than volume?
I have been working with the various industries to solve similar challenges.
How important is the "After click ROI measure" in your situation?
How do measure it?
Do you experience similar challenges as those noted above, capturing the "Big Fish" before they leave your net (web site)?