RedEye resolves ‘last click wins’ issue with launch of new Media Mix service
RedEye’s new Media Mix service enables advertisers to see behind the last click, showing how each component of their online campaigns work together and which other media assisted in the sale.
Research by RedEye has revealed that less than 15% of online sales result from one surfing session alone, with over 45% realised through a different medium from the original research tool or channel used.
With online sales currently accredited only to the last click, the new media reporting and segmentation service will not only allow marketers to significantly increase visibility of their marketing budgets, but also improve planning of future spend and tailoring of customer communications. To enable the new media reporting to be translated into action, the service enables consumers to be segmented by channel preference and media use. By unravelling consumers’ online activity the Media Mix service finds which online channels consumers prefer to use. Optimising media spend targeting based on consumer channel preferences can greatly improve media results, with better channel segmentation making marketing more relevant to consumers.
Mark Patron, CEO at RedEye comments, “Planning media budgets based purely on the last click is no longer good enough and does not reflect the complex way online marketing works. Media Mix goes a long way to unravelling what is really going on and how to make it work better. As with all great new products, Media Mix has been driven by and developed in partnership with our clients to help them make more money online.”
A number of RedEye clients have started to test the Media Mix Reporting recently with impressive results Abigail Murphy, Online Marketing Manager at insurance specialists esure says, “The depth of understanding and level of reporting that RedEye is able to provide through Media Mix is unsurpassed. The combination of a managed approach and excellent selection of segmented data has enabled us to digest and action previously impenetrable levels of information. With the RedEye reporting matrix comparing where a sale starts and ends, we now have segmented analysis of precisely which behaviour evokes a visit to the site as well as detailed evaluation of traffic that doesn’t convert. Understanding the value of each media is essential for effective ROI in online marketing and something that Media Mix is, at present, uniquely placed to deliver.”
Understanding the crossover between different online media and, in particular, the customer journey is something Cheltenham & Gloucester have embraced through Media Mix reporting. A Cheltenham & Gloucester spokesperson adds, “Using RedEye’s custom tracking solution and unique Media Mix reporting suite we are able to track the complete online customer journey leading to online application and ultimately offline mortgage completions. This invaluable insight helps guide media spend whilst giving us full visibility of how our customers interact with our online campaigns and the website as a whole.”
The launch of media mix is likely to create insight into unsubstantiated industry beliefs, enabling online marketers to make decisions on known facts rather than suppositions. For instance, search agencies still sell the theory that brands need to own generic terms in order to generate and convert leads on their own brand terms – and yet there is no evidence to prove or disprove the fact that, for example, an insurance company owning the term ‘cheap car insurance’ will gain sales from its brand terms as a result. With Media Mix, brands will be able to identify whether this is true or not for their own business.
