This doc presents the playbook and video walkthrough to effectively use the Full Impact ROI multi touch attribution model to optimize your campaigns using ROI and LTV.
The ReEngaged Lead ReOptin attribution model tells you the reengaged leads that reoptin from marketing and become high value customers over time.
The ReOptin attribution model looks at the behavior of your existing email leads in response to marketing both paid and unpaid.
We look to see if these existing leads are resubmitting their email address, called a reoptin, and if that reoptin moment leads eventually to future sales and revenue.
This conversion detection is automatic with Wicked Reports 1st party CRM integrations.
Reoptins can come from abandoned carts, scheduling an appointment, opting in for a webinar, form submission to download a pdf, basically any webpage that captures an email address for some reason, we can track if that reoptin leads to revenue.
The ReEngaged Lead ROI Optimization Play
Video: Wicked Quick Win - Optimizing Campaigns using ReEngaged Lead Attribution
How we calculate ReEngaged Lead Attribution
When to use the ReEngaged Lead attribution model
ReEngaged Lead attribution is perfect for middle of the funnel campaigns of a multi-step funnel that require appointment scheduling, registrations, or downloads from existing leads before making a purchase decision.
The ReEngaged Lead ROI Optimization Play
- Choose Re-Engaged Lead Attribution
- Find the High ROI campaigns
- Select a Campaign Using the Campaign Explorer.
- You can move low ROI campaign ad spend to high ROI campaigns.
- Advanced Scaling - Ad and Ad Group level optimization
- Filter on the utm_content value, which is the ad name if this is a Facebook/Pinterest/Snap/Twitter/TikTok campaign, or an ad group name if a Google campaign.
- Check to see if there is targeting (utm_term value) that is generating high ROI this ad. When there is, congrats, you have found a market for this message within the campaign that is generating higher relative ROI. Move the negative ROI ad spend on targeting using this ad to the positive ROI targeting for this ad.
- Advanced Scaling - Adset and Targeting optimization
- Filter on the utm_term value, which is the adset name if this is a Facebook/Pinterest/Snap/Twitter/TikTok campaign, or an ad's triggering criteria if a Google campaign.
- Check to see if there is an ad (utm_content value) that is generating high ROI for this adset/targeting. When there is, congrats, you have found a message to a market within the campaign that is generating higher relative ROI. Move the negative ROI ad spend on ds using this ad set/targeting to the positive ROI ads for this ad set/targeting.Move negative ROI ad spend within the campaign to the positive ROI ad spend within the campaign in 3 ways.
- Repeat steps ii & iii for all the high ROI campaigns.
- Find the low ROI campaigns
- Run “Wicked Quick Wins: Determining Kill or Chill on a Low ROI Campaign”
Video: Wicked Quick Wins - Optimizing marketing campaigns using ReEngaged Lead ROI attribution
How we calculate Re-Engaged Lead attribution
Why You Need This
Sitting on every email list is a high percentage of leads that over time have become un-engaged with your brand. With most conversion tracking options from your ad platforms and dashboard reporting tools, conversions are not differentiated between new leads and existing leads - until now.
Wicked Reports re-engaged lead ROI detects when someone on your email list re-opts in for content. This could be a coupon, webinar, PDF download, or sales call. Wicked then detects if this re-optin leads to future revenue and updates the sales, revenue, ROI, and LTV for this re-engagement conversion.
When multi-channel marketers target their existing email list to download/optin for offers via email, Facebook retargeting of their unconverted email list, Google retargeting, and any other channel, this attribution model detects and reports when it succeeds.
The ability to scale traffic and campaigns based on existing warm email list traffic vs cold traffic allows you to match the marketing message to the right audience at the right time.
Common Marketing Optimization Scenarios that ReEngaged Lead ROI Reporting can Solve
- Unable to connect customer lifetime value to traffic sources and campaigns that converted the middle of the funnel.
- Sending emails always increases sales but Facebook view-through conversions are indicating they deserve the credit.
- Your marketing funnel has middle funnel conversions to generate repeat buyers, subscription recurring sales via your monthly ecom boxes, or membership course subscription sales and it is difficult to measure what deserves credit for those conversions.
- You are running paid, email,and organic traffic to opt-in offers for free shipping, discounted products, or buy one get one deals. You need to know if this strategy is profitable to your existing email list, or cold traffic, or both.
How to use the ROI report for ReEngaged Lead Attribution
The ROI report uses the attribution model you select to attribute revenue to 1 or more specific conversions points in your marketing funnel. It is a huge edge to measure your marketing campaign goal with the correct marketing attribution model.
To scale warm traffic existing lead middle funnel campaigns, the goal is to find what converts existing leads to re-engaged with your brand and then purchase soon thereafter.
For ReEngaged lead attribution and ROI, you will want to select "ReEngaged Lead ROI". This attributes all revenue to the marketing click that created an existing lead middle funnel re-engagement conversion.
The existing lead conversion is automatically detected by Wicked Reports using our CRM integration and our click tracking scripts.
The sales conversions are automatically detected by Wicked Reports using our Order integrations. This includes recurring subscriptions and all orders that do not occur online - as long as they are in the order system integrated, we can detect and attribute the revenue back to the marketing click that generated the existing lead re-engagement.
For more information on the ReEngaged Lead Attribution Model, https://help.wickedreports.com/reengaged-lead-reoptin-roi .
Select any other filters (filter options discussed below) and click apply to see the attributed revenue for all re-engaged leads generated in the time period selected.
The ROI summary fields of Sales, Attributed ROI, Attribution Coverage, Wicked Attributed Revenue, and Unattributed Revenue are all calculated specifically based on the attribution model selected:
Re-Engaged Lead Attribution Coverage is usually lower than other attribution models. Not every lead will re-engage, unfortunately.
These values are all using the existing lead re-engagements generated during the time frame for the marketing campaigns being evaluated against the revenue the existing lead re-engagements have generated.
The sales, revenue, and ROI values for each marketing campaign are listed in the ROI report, here is the ReEngagement ROI for some of the paid media campaigns:
Notice that 4 of the 5 campaigns have the word "Lead Gen" in the name. If following good Facebook adset targeting practice, the existing email list is excluded when looking for new leads (although we've found some existing leads always sneak through). The ROI is terrible on these campaigns, but the goal of the campaigns is to generate new leads, not re-engage existing leads. So we should not evaluate these campaigns using this model.
If the targeting on a Facebook campaign is an existing email list to optin for a coupon or webinar, this attribution model was made specifically for evaluating those results against revenue.
Read https://help.wickedreports.com/how-to-use-the-roi-report for in-depth information on all the filters and fields of the ROI report.
However, if we sort by "ReEngaged Leads" Column we can see analyze campaigns that have re-engaged lead conversions:
Most of these re-engaged leads, and sales from re-engaged leads, come from HubSpot Meetings. HubSpot Meetings are middle funnel conversions detected by Wicked Reports' HubSpot integration.
The additional campaigns with re-engaged leads and sales are from email campaigns, as indicated by the email icon to the left of the campaign name.
Marketing Optimization Tips
Middle funnel conversions that lead to revenue help out your entire marketing funnel. You can make sure that new leads get the right content that leads them on the path to high lifetime value repeat and recurring customers.
Make sure your email marketing campaigns and emails that deliver the highest revenue middle funnel re-engaged conversion revenue amounts get triggered sometime after a new lead
Facebook campaigns that target your existing email list as an adset with an offer to optin for a coupon, webinar, or PDF is a perfect campaign goal to measure with ReEngaged Lead ROI.
If the goal of your marketing campaign is paid media existing lead ReEngagement at profitable ROI, here is some guidance:
- SCALE: ROI is profitable, increment budget up.
- CHILL: ROI is acceptable but not wildly profitable.
- CHILL: ROI is so-so and you haven't had success with any other paid media campaigns targeting your existing email list.
- KILL: ROI is not acceptable, campaign's goal is targeting existing email list to reoptin and then buy sometime thereafter.
- UNKNOWN: Goal of marketing campaign was not to have existing email list to re-optin. Choose another attribution model and re-assess.
- UNKNOWN: You don't see many leads re-engaging, feel that there should be more, and fear there is something off in your tracking. See troubleshooting section below.
- UNKNOWN: You have existing lead conversions tagged/segmented/identified in your CRM prior to Wicked Reports and want to see what this attribution model would tell you to do. Back load the historical data!
- If you do not see any leads or sales for a campaign, check the report filters against the first click date of the campaign - that date is the first date we found a click.
- Make sure you have the wicked tracking code snippet on all pop-up optin forms and landing page tech, sometimes that step gets missed.
- If your tracking seems "off", use the Tracking Page Validator - super quick way to run tests without leaving the ROI report.
- Wicked's conversions never match Facebook or Google's, by design.
- Troubleshooting 101 for any marketing campaign.