Mobile Introduces Amazing New Opportunities For Measuring Marketing Success.
Google recently interviewed Kerri Smith, the Director of Mobility at iProspect, about the importance and unique opportunity of mobile marketing. Increasingly there is a need to redefine your direct response marketing strategies for mobile in order to more accurately measure the success of mobile campaigns.
Retail brands were the first the embrace this new technology, due in large part to the known “intent to visit” derived from these and previous testing. Google has then been able to measure the revenue opportunity in stores from mobile and to prove the value in attributing dollars to these actions. Retailers have seen enough of these trends and subsequent lifts in revenue to value these actions.
Kerri: This really depends on the client. In most cases, clients are assigning value based on a number of factors used to determine the lifetime value of a customer. For example, one of our brands assigns an average order value (AOV) on app downloads based on the usage they’ve seen through analytics and resulting revenue from their aggregated app users. For another brand, call extensions have proven very effective, though it’s been difficult to track conversions and resulting revenue as the consumer is taken offline. Therefore, we use an equation that allows us to measure the likelihood of an actual conversion. Knowing the average call duration, which indicates level of interest, and the agent conversion rate, the brand helped to formulate the following equation:
6 minute call duration = an interested consumer
Agents convert 30% of interested consumers
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