Sometimes we go way too deep into our attribution activities. We want to tie every sale to every marketing activity.
And when we do that, we lose sight of what matters.
What matters, of course, is whether an item generates profit or not.
I like to simplify things. Roll your data up on a quarterly basis. For instance, measure item performance from January - March. Sum all of your catalog expense across each time the item was featured in a catalog. Do the same thing for search, for e-mail marketing, for all other online marketing activities.
Run a profit and loss statement for each item, during the quarter.
In this case, item #2 did not generate the sales that item #1 generated, but item #2 did generate more profit. This is the type of analysis we need, the type of analysis that is sorely missing in our channel-based, attribution-focused, tweeting-simple-kpi's world.
Focus on how merchandise performs across channels. Spend less time focusing on channels!! Merchandise can sell without channels. Channels cannot exist without merchandise.
The Professional tweets and says "Kevin, Loyalty programs work! Just look at Starbucks for proof." That's not proof. Starbucks...
It is time to find a few smart individuals in the world of e-mail analytics and data mining! And honestly, what follows is a dataset that y...
As is my tradition, I'm going to take a long weekend. No posts until early next week. I've been doing this for almost twenty years, ...
Sometimes you think "people already know this stuff". Sometimes you realize that Google Analytics give smart analysts almost no op...