Category: Data & Measurement

Accurate Campaign Measurement with Incrementality

Posted on by Drop

Traditional marketing measurement methods, like multi-touch and last-touch attribution offer great insights into brand performance, but may have a tendency to over or under state the impact of marketing campaigns and leave you without a true sense of campaign performance.

Test vs. Control Incremental Measurement. 

Test vs. Control analysis is a method of measuring the incremental contribution of marketing that isolates how different external influences (like ads or organic traffic) contribute to your overall business performance. Test vs. Control analysis helps marketers measure the lift of a specific channel by isolating it from all other influences.

By looking at incrementality, marketers are able to better understand how an ad or offer performs by quantifying the lift or isolated contribution, allowing you to measure and reduce wasted ad spend.

How do we measure incrementality at Drop?

When we launch our card-linked offers, Drop selects a randomized control group and withholds the ad or offer from them. We then measure all purchase metrics for this control group customer including, purchases made, total spent, average order value, etc — and compare this to the test group customer (the ones who received the ad or offer). We measure incrementality by quantifying the purchase and spend differences between these test and control group customers.

By measuring incrementality, Drop only takes credit for the incremental contribution of those that were influenced by the ad. This isolates the influence Drop has over your consumers and also helps to quantify the organic traffic or walk-in rate.

What makes Drop’s measurement methods stronger than others?

While many businesses can measure incrementality, it does require advertisers to spend a lot on their own. Card-linked offers give Drop the ability to measure incrementality, without the heavy investment. At Drop, we offer a fully customizable post-campaign analysis which can match the output to the type of lift you want to see.

By measuring incrementality, you can begin to understand the positive impact a marketing initiative has on your business, and scale your business effectively.

Get in touch with our team at sales@joindrop.com to learn more about how Drop can help you measure and scale more effectively with card-linked offers.

Bringing Data Science to Retail

Posted on by Drop

Get a complete view of your customer, so no money is left on the table.

The 21st century consumer’s path to purchase meanders through a stream of data and information. In today’s digital world marketers need to understand audiences and apply insights to deliver relevant experiences to their consumers. But that is not as easy as it sounds – Google and Apple are both significantly restricting the amount of information available to marketers by limiting the effectiveness of advertising cookies.

Making informed decisions is now critical for marketers looking to deliver the most impact with their campaigns. Each company’s strategy will vary based on its business goals and their specific audiences, what remains true is the necessity for accurate and actionable data.

Combining Datasets

Data captured by a company typically only encompasses a few interactions with a digital advertisement or website engagement. Finding more insights on how a consumer interacts with a social media post and mobile app is possible but still we are missing critical pieces of the consumer experience. Building a complete vision requires the integration of all available data collected and will help achieve marketing objectives.

But what if your company does not own those data sources? Partnering with a data specialist, like Drop for Business, will allow you to access that information – developing a more enriched image of the consumer.

Uncovering data insights with a partner comes with many advantages. Drop for Business maintains a growing consumer dataset where members share their transaction data in exchange for monetary reward in the form of Drop points. This data encapsulates all of a consumer’s spend in various categories including competitive retailers, an avenue of data that is typically unknown to a company.

Integrating Analytics

Once a complete view of the consumer is generated it is time to use this information in decision making. Identifying valuable customer segments and applying them to marketing strategies turns insights into valuable actions:

  • Personalize customer experiences with audience-level data.
  • Segment customer bases to reach specific audiences with custom messaging.
  • Analyze marketing channel effectiveness and optimize budget allocation.

Getting a more comprehensive understanding of consumer behavior leads to more effective marketing efforts. In turn, these efforts go on to improve the bottom-line performance of a business. Marketers with integrated technologies are more able to deliver experiences to consumers that delight each time they occur.

How can Drop for Business help?

Integrating more data into your marketing strategies enables you to gain actionable insights that prioritizes your business needs and understands your customers. For the best impact, the sources of the data must be reliable and up-to-date – Drop for Business currently provides a complete view of consumers from a combination of surveys and real-time, first-party data from billions of transactions, to truly understand your customer’s actions and future intent. With the data provided by our card-linked marketing platform, you can be sure to target the right customer, at the right time to supercharge your ROAS.

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    Driving Scale with Card-linked Offers

    Posted on by Drop

    Drive 10x more scale than affiliate offers – here’s how to do it.

    Card-linked offers (CLO) are a great tool to drive in-store activations and reward your most loyal customers. But that is not the only reason why they’re becoming more popular with business and consumers alike. CLOs with Drop for Business have proven to drive 10x more scale than affiliate offers – here’s how it works.

    Affiliate Marketing

    Affiliate marketing is an advertising model where publishers (such as Drop) earn a commission for successfully promoting a product or service for an advertiser (ie. brand or merchant). The publisher is rewarded a payout for providing the result desired by the advertiser, usually the sale of a product.

    Affiliate marketing attribution is tracked via unique web URLs, capturing data points that inform the advertiser where the end-customer originated from and attributes the sale to the publisher responsible for attracting the customer to make their purchase.

    While affiliate marketing has been an extremely successful approach for direct to consumer and ecommerce businesses, traditional brick and mortar businesses struggle with associating online marketing activity to offline purchases.

    Card-Linked Marketing

    A new advertising channel gaining popularity with the rise of open banking is card-linked marketing (CLM). CLM operates similarly to affiliate marketing, with the key difference being publishers and advertisers attribute customer purchases using the bank-level transaction details, rather than web URLs. Card-linked offers are capable of measuring both online and offline purchases, and gaining traction with omni-channel and brick and mortar marketers.

    Benefits of Card-Linked Marketing

    Card-linked offers (CLOs) are the most popular way in which consumers choose to interact with brands on Drop and, as a result, they consistently unlock 10x more scale than affiliate offers.

    Card-linked offer attribution has historically been a challenge for marketers because purchases are measured in the bank environment as opposed to tracking click activity. Advertisers are accustomed to a 1-to-1 marketing attribution known as “Last-click Attribution”, where the last Publisher to receive a click from the consumer is granted commissions for the sale.

    But with Drop Pulse, our partner success tool, marketers get the best of both worlds, the increased scale of CLOs with the same last-click attribution as affiliate offers.

    Attribution with Drop Pulse

    Drop bridges the gap with a unique click ID that correlates the card-linked offer activation to the consumer’s transaction; Drop For Business is able to provide 1-to-1 tracking data to brand partners, accessible through Drop Pulse. CLO click attribution by Drop for Business is an order-of-magnitude improvement in marketing reporting that allows marketers to measure when the digital offer activation occurred and correlate it to the resulting online or offline purchase.

    At Drop for Business, we empower marketers to drive cost-efficient advertising campaigns by targeting the right customers, at the right time. Get in contact with our team and find out how Drop for Business is able to leverage CLO click attribution to exceed your advertising goals.

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      Win in a Cookie-less World

      Posted on by Drop

      Leveraging First-party Data to Win in a Cookie-less World

      Is your business poised to survive the impending loss of third-party data? In a world where cookies are becoming increasingly scarce, how can you effectively target and target your customers and accurately measure attribution? Drop for Business has the only future-proof solution you can rely on, once the cookies start to crumble.

      What are cookies?

      Digital advertising has historically relied on a piece of data deliciously named the “cookie”. This benign-sounding nodule is widely used as a tracker of web activity; functioning as a small digital marker passed between a user’s browser and websites, to help site owners better understand their visitors’ online activity.

      While the initial intent of the cookie was not to track user behavior on the internet, it quickly became commonplace. Personalized advertising unlocked by 1-to-1 tracking from cookies revealed new heights for digital marketers and digital marketing ROI. Cookie-based marketing began to play an integral role in the performance of multi-million dollar advertising campaigns on Facebook, YouTube, Reddit and many others.

      Why are cookies disappearing?

      Apple was the first major company to severely limit the ability of advertisers to track users on its devices – requiring consumer permission before tracking activity on websites and apps. Safari also limits the usage of cookie tracking, further restricting the details that advertisers can glean from an Apple device. While Apple is not strictly disallowing cookies from accessing Apple users, it is a fair assumption that, when asked, consumers will generally shy away from any form of tracking. These restrictions spelled a major shift in digital advertising, one that was further exacerbated by Google’s decision to limit the ability for cookie based tracking on its Chrome web browser.

      What does this mean for businesses?

      The restrictions put in place by Apple and Google have made it increasingly difficult to track users on the open web and businesses have been forced to adopt data collection at touchpoints within their direct control, like their websites and mobile apps. Nevertheless, such data collection techniques generally lack the granularity required for businesses to discern consumers’ intentions, preferences, lifestyle, etc.

      Facing these limitations, businesses are looking to augment their data to unlock a holistic understanding of their market landscape. To do so, they are partnering with organizations specializing in consumer-permissioned collection of data. Partners that specialize in data collection must take a strategic approach to ensure that their datasets are accurate as well as ethically sourced. The modern consumer is informed and knowledgeable of the value of their data. As a result, consumers are more inclined to provide accurate and complete information when a clear exchange of value is proposed.

      How can Drop for Business help?

      Drop for Business maintains a growing consumer base of over 5 million members, representing an average of 2 million transactions per day. All transaction data is stored with bank-level security and scrubbed of identifying information to maintain a safe and anonymized data set. Members actively participate in sharing their data in exchange for monetary rewards in the form of Drop points – pushing a frontier forward in a world where consumers and permissioned data sets are the priority.

      Advertisers are now able to leverage Drop’s ethically sourced, permissioned, first-party data sets in lieu of the advertising cookie to drive efficient and scalable campaigns far into the future, while driving significantly more value for both their brand and the end consumer.

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