The holy grail of advertising is solving the disconnect between online marketing and in-store purchases. "While we expect $150B more to be spent online between now and 2018, we expect $300B more to be spent offline in that same time," states Forrester's Sucharita Mulpuru.
We know e-commerce is growing leaps and bounds, but the retail store is far from dead. For advertisers, solving the attribution gap between online marketing and store sales is paramount.
Let's go over some old, new, and emerging trends that will help bridge the online to in-store gap.
Store Locator Conversions
The store locator page on your website is a crucial landing page when search users are targeting micro-moment keywords like "denim store near me" or "ice cream store close by." Placing a pixel or tag on your store locator search box when a user types a ZIP code or location will give you a key micro-conversion of how many users intend on visiting a store.
Using this data, we can infer assumptions like potential store visits and average store order value to tie into a return on ad spend (ROAS) or cost per store locator. For example, say 100 searchers clicked my paid search ad and 75% of those searchers went to locate a store on the store locator page. We can assume 50% of those searchers ended up visiting a store and 75% of those store visitors purchased an item. Using the average store order value of $100, we can determine revenue.
Now, we have all the data we need to back into a ROAS or any other KPI you desire. This method is far from perfect, but it gives you an idea using first-party data and assumptions of what's happening in your search-to-store campaigns.
Google's Store Visits Beta
Take the first step (it's free).
You may also like:
- Six Things Stalling Your Account-Based Marketing Strategy, and How to Fix Them
- Lead Management for ABM Is Not What You Think It Is: Six Key Differences
- The State of B2B Marketing Data Quality in 2018
- Influencing B2B Sales: Buyers' Favorite Conferences, Social Networks, and Analysts
- How Hyper-Personalization and Localization Can Give You a Competitive Edge [Infographic]