April 01, 2008

Unified Multichannel Metric

A pet project over the next few months is the development of a Unified Multichannel Metric.

Why?

If you executed a multichannel marketing campaign, how would you know if it worked or not?
  • If customers responded to the campaign at significantly increased rates, but the number of multichannel customers did not increase, was the campaign successful?
  • If the series of campaigns, across channels, generated a loss, but increased the number of multichannel customers, was the campaign successful?
  • If a retailer went from having 100 stores to 200 stores, thereby doubling the number of multichannel customers, was the brand successful at generating multichannel customers?
  • If a cataloger reduced circulation by fifty percent, dramatically increasing profit, but reducing the number of multichannel customers, was the marketing plan a success?
  • If a online pureplay used multiple online advertising vehicles, lowering response and profitability across all campaigns, but increased the number of customers buying, was the multichannel advertising campaign successful?
It's probably time for a Unified Multichannel Metric.