Attribution the goal with Kenshoo’s new Infinity Tag
Kenshoo today released its new Infinity Tag which it says helps marketers better understand the role their digital campaigns played in customer transactions. and importantly assign attribution.
The tag itself is an upgraded conversion pixel designed to help marketers optimize their digital marketing campaigns .
Infinity Tag elevates campaign performance by moving beyond currently accepted key performance indicators (KPIs) like total revenue to more granular conversion and attribution insights that inform and improve optimization strategies.
“The Infinity Tag is a significant step forward in solving some of the most difficult attribution and optimization challenges,” said Will Martin-Gill, chief product officer for Kenshoo. “Agile marketers using Kenshoo now have the ability to better understand the actual incrementality of their marketing programs and optimize on specific business goals.”
“As an example, a retailer’s campaign on Google and Facebook intended to sell running shoes could generate clicks leading to purchases of neck ties.
“Marketers can now track how much of the revenue generated by the campaign came from sales of running shoes vs. non related items, enabling corrective actions for optimizing the campaign to better drive consumers toward the specific goal,” he said
The Infinity Tag allows marketers to:
- Track and report on all relevant data at the time of conversion, not just revenue and margin, but number of items in cart, new or returning customer, or the category of the purchase
- Create new conversion metrics to optimize and report on, such as revenue from new vs. existing customers
- Significantly improve attribution by defining which conversion fall within/without the goals of the campaign
According to Martin-Gill. “A retailer may receive advertising dollars from a manufacturer of a product they sell to create an additional campaigns to boost promotion of the product; the retailer can now share campaign performance details with the manufacturer regarding driving sales of the products compared to other items on the retailer’s site. As the retailer optimizes to drive better performance, they can make the case for more co-op dollars from the brand.”