The answer to who gets credited and why has plagued the advertising industry for some time.
This is because understanding a publisher, a campaign or a channel's role in a sale is complicated at best. This week, Kenshoo announced its new Infinity Tag, designed to help marketers better understand the role their digital campaigns played in customer transactions.
Those already using Kenshoo’s Infinity Suite can use the tag to track and report on all relevant data at the time of conversion, such as number of items in cart, new or returning customer and the category of purchase. Why is this important? Not only does this help companies create new conversion metrics to optimize and report on (as well as provide testing opportunities like new versus existing customers), but brands can also reward valuable sales partners and perhaps not invest as much time in under-performers.
"Many Kenshoo advertisers are excited about using the Infinity Tag’s capabilities to manage and boost their co-op advertising," said Will Martin-Gill, chief product officer for Kenshoo. "A retailer may receive advertising dollars from a manufacturer of a product they sell to create an additional campaigns to boost promotion of the product; the retailer can now share campaign performance details with the manufacturer regarding driving sales of the products compared to other items on the retailer's site. As the retailer optimizes to drive better performance, they can make the case for more co-op dollars from the brand."
Aside from partner sales channels, marketers can track internal campaigns in a more sophisticated fashion.
The example given by Kenshoo is if a retailer’s campaign on Google and Facebook is intended to sell running shoes, but it instead generates clicks leading to purchases of neck ties, marketers can now track how much of the revenue generated by the campaign came from sales of running shoes versus non-related items, enabling corrective actions for optimizing the campaign to better drive consumers toward the specific goal.