This document is for media buyers, funnel automation experts, brand owners, and marketing directors to evaluate and optimize email and paid media campaigns based on last click sales attribution.
Why You Need This
When a sale happens online, everyone wants to take credit.
- The Facebook ad that your customer scrolled by a week ago
- the Google display ad that lurked at the bottom of your customer's favorite blog
- your CRM's email wants credit because the email was opened
- the SEO team wants to say it was all about the organic search listing
- don't forget the branding expert that says all that tweeting and user engagement led to the sale.
What's the truth?
Wicked Reports last click attribution says the last click, when taking all your channels and marketing into account, deserves the credit for closing the sale.
There are still important clicks earlier in the customer journey, and those are all detected and reported on with other attribution models.
But the final marketing message that tipped people from interested lead, to actual paying customer, is best determined with multi-channel last click attribution.
When those emails and paid retargeting ads start closing sales, it's exciting.
Last click benchmarks let you know if a sales conversion campaign is doing better, the same, or worse than your normal bottom of the funnel sales conversion campaigns.
When it's doing better, scale it. The same, chill out while testing a new approach. When doing worse, kill it and move on.
Common Marketing Optimization Scenarios that Last Click ROI Benchmarks can Solve
- Is this offer better or worse than my past offers?
- Is this email closing more people than normal?
- How far off are the ad platform sales conversion metrics from my marketing performance reality?
- What is the best paid media to run to my red-hot prospects?
- Which emails are failing to close the leads that I've acquired?
How to use the ROI Benchmarks with Last Click Attribution
ROI Benchmarks snapshot your marketing campaign performance and compare them against all your other campaigns after the same amount of time using the attribution model you have selected.
This article assumes you understand https://help.wickedreports.com/how-to-use-the-roi-report and First Click attribution https://help.wickedreports.com/last-click-attribution.
Access the benchmarks for any marketing campaign by selecting Benchmarks from the Wicked Tools menu on that campaign's row from the ROI report.
This will open up and load the Benchmark metrics for this campaign below the ROI row.
When looking at benchmarks, the first factor to keep in mind is time. The proper perspective on time can be a great edge for you. With a last click campaign, sales should come quickly and ROI should become profitable fast, or else it's time to adjust the campaign or kill it.
Benchmarks are calculated from the very first tracked click for the campaign. So the benchmark data will not match the ROI campaign data unless your ROI time filter begins at the first tracked click date of the campaign.
Here is the click performance vs benchmark at this point in time:
This is where trend is important. Notice the dramatic downward slope of EPC. While it is still at $2.57 per click, it is crashing back to earth. This indicates the last click quality has dropped in the past 2 weeks.
We can skip the leads tab because we are analyzing this campaign for last click performance.
The sales benchmarks:
Everything is green and trending up. This is a good sign. You want the slope of revenue to be higher than the slope of costs.
The customer benchmarks:
The CAC is cheaper than normal but heavily rising. The LTV is higher than normal but dropping. Overall analysis: This campaign needs to be checked daily. Money is being made but trends have turned negative. If trend continues, time to bank the profits and move on to another campaign. If trend levels off, keep spending at the same rate.
Marketing Optimization Tips
Last Click campaigns should show profitability within the time range of your last click time range settings.
When profitable, check the trend of CPC vs EPC on the clicks tab and CAC vs LTV on the sales tab.
When the LTV and EPC are trending up at a equal or higher rate than the CPC and CAC, you can usually keep spending.
When you are making money on a last click campaign but the LTV and EPC trend lines are headed towards the CPC and CAC trend lines, you need to more closely monitor
- The stats in the benchmarks do not match the stats on the ROI campaign report unless the start and end date of the ROI report match the start and end date of the campaign. Use this to your benefit, you can see near-term ROI performance vs overall campaign performance over time from the benchmark to spot trends.
- When the goal of a campaign is to get clicks that immediately buy, these last click benchmarks will guide you to know if you should continue spending, scale spending, or stop spending.
- If the benchmark section seems to advanced, simply focus on ROI based on the attribution model that maps to the campaign goal.