Giesswein
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Problem Statement
The Austrian shoe manufacturer and cult brand Giesswein confronted mrkt’in with the following problem: How can it be ensured that Giesswein’s marketing budget is invested in the right channels in the right proportion?
Before starting this project, marketing activities were measured and evaluated primarily on a last-click basis. However, last-click models have a flaw in that certain channels benefit from this kind of model (especially Google Ads), while other channels that are used earlier in the user journey (e.g. TV) are at a disadvantage. As a result, incorrect decisions can occur when distributing the marketing budget if decisions are made based on a CPO (cost per order) that only takes into account the last touchpoint of a user journey.
Goal Setting
Development of an attribution model taking into account a top-of-mind survey (Typeform) to provide the customer with more realistic CPOs that allow Giesswein to make the right marketing and budget decisions.
Approach
Between February 14th and February 28th, survey data was collected via a Typeform integration in the Giesswein online shop. The Typeform data was compared and combined with Shopify data, Google Analytics data, and other customer data such as print coupons to create an attribution model that considers multiple sources, thus representing a step towards a holistic attribution model. You can find more information about our Multi Source Attribution Model here.
Results
Thanks to the comparison of the last-click CPO model with the CPO of our multi-source attribution model, we made clear recommendations for action. Previous “top performers” have proven to be comparatively inefficient upon in-depth analysis, while influencer marketing and coupon inserts in particular have been particularly well identified from a CPO perspective and as channels in which more budget should be invested.
The special thing about our Multi Source Attribution Model is that it doesn't have to be a snapshot as it can be perpetuated. This means that you can view the CPOs for the channels in real-time, taking multiple touchpoints into account. This enables us to sustainably increase marketing efficiency.
The special thing about our Multi Source Attribution Model is that it doesn't have to be a snapshot as it can be perpetuated.
