Measure Conversion With Lift Studies – Know Which Marketing Influenced Purchases

Use Lift Studies to Validate Product Assumptions and Measure Conversion

Lift studies help answer the most important question – did my marketing influence a purchase that would not have happened if I had not carried out that marketing?

There are many kinds of lift studies but all allow brands a more accurate insight into the performance of their campaign and help them maximize return on investment by considering the entire funnel.

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Actual vs. Predicted

A Causal Impact Lift study, for instance, compares actual site activity versus the prediction of site activity had advertising not occurred during the same timeframe.

As a result, you’ll see the direct impact of all your marketing efforts, enabling you to take a holistic and well-informed approach to future campaigns, understanding the full role each channel plays in terms of conversion volume and rates, outside its individual results.

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Attribution

It is becoming more and more important for brands to address the issue of attribution head on and when done correctly, brands will reap the rewards.

Read: Growth Hacking By Fixing Your Attribution First Having the ability to holistically understand how effective each of your marketing channels are will allow you to maximize your budget and drive ROI.

 

source: Matthieu Betton, Head of Global Car and Strategic Accounts, Sojern

Do You Know The Difference Between Growth Hacking and Marketing?

“Growth hacking” is a term you probably hear thrown around a lot. Is this just another trendy buzzword for ‘marketing’? According Christy Hill of Hannon Hill, the answer is yes and no. Growth hacking is a type of marketing, with a unique set of challenges.

The goal of a growth-hacker is to grow their audience as quickly as possible on a limited budget. The practice itself is not new, but the term was first introduced by Sean Ellis in 2010.

Growth Hacking vs. Traditional Marketing

The main difference between growth hacking and traditional marketing is that growth hackers don’t take the time to come up with a long-term marketing strategy. Instead, growth hackers experiment to find something that works fast and they stick with it. Traditional marketers focus on long-term, organic growth and lead-nurturing, while growth hackers focus only on growing their business quickly and inexpensively.

A “hacker” by definition, is someone who disregards the rules and solves problems in an unconventional manner, so you could say “growth hacking” is a way to hack your marketing efforts to accomplish your goals faster. According to SplashOPM, In order for you to truly be “growth hacking” you need to:

  1. Be a growth marketer – which means, you need to have turned ALL of your business efforts towards growing an audience through a specific channel.

  2. You must only care about your core 1 metric – either follows, views, or most commonly email subscribers.

  3. You must be running a well thought out growth test.

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Why Growth Hacking Is Attractive for Startups

Since startups are typically under tight resource constraints, they typically embrace the world of growth hacking. Most growth-hackers are skilled in coding, since many startups do not have the resources to hire a full-time marketing team. This skillset allows growth hackers to use many unconventional marketing tactics as they aren’t limited by the status quo; they will test new technology, tools, and techniques that larger companies might be slower to adopt.

Growth Hacking Strategies

A variety of strategies could be considered growth hacking, with some popular examples include:

  • referral programs
  • giving away free items
  • partnering with larger companies
  • making your product exclusive – accessible “by invitation only”

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The Future of Growth Hacking

So, is growth hacking the future of marketing? In a word, no. Growth hacking isn’t designed for long-term success as it doesn’t incorporate many of the marketing tactics required to drive sustainable long-term growth. Growth hacking should be used a complement to, instead of a replacement for your long-term marketing strategy. But don’t write it off as just another trendy buzzword! Growth hacking has marketers thinking in new and exciting ways, which is always a great mindset to have!

source: Christy Hill, Hannon Hill

 

 

Entrepreneur Roundtable Series

Learn Eight Key Entrepreneurial Lessons That Will Accelerate Your Success. eLuminate Entrepreneur Roundtable Series moderated by eLuminate Network founder and CEO, Sharon R. Brown.

Eight entrepreneurs are interviewed on critical issues in launching a business. A fun, informal-style roundtable that covers key issues impacting entrepreneurs, from start up to advanced growth.

Customer Discovery Video by Steve Blank

Steve Blank on Uncovering the Needs of Your Target Market

Customer discovery is the rigorous process of interviewing potential buyers and determining how your product or service can best meet their needs. In the videos below Steve Blank discusses how the discovery process is about validating your hypothesis and understanding which product features should be built, expanded, or dismantled.

source: Steve Blank

Why You Should Care About Google AMP Pages

Are you ready for the mobile web getting faster?  Google rolled out their Accelerated Mobile Pages (AMP), which are now live in the search result pages for most users.  At the moment, AMP pages are only news pages, and load much faster than regular news pages.

This means that soon consumers can expect a faster mobile web experience for images, videos, maps, and more.  So, if you are not able to grab your audiences attention in seconds, they will likely have plenty of opportunities to find content on the next screen.

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Google’s Accelerated Mobile Pages (AMP) initiative, was a project designed to speed up the mobile web. The idea was to create a new open source framework that would load images and content instantaneously. The pages are streamlined to load as little excess code and resource as necessary.

If you were to conduct a search for “David Cameron” you will note the articles are clearly labelled as AMP with a thunderbolt icon. According to Google, AMP pages load almost instantaneously with a load time that is 85% faster than normal pages.

The Downside of AMP

One downside from a publisher’s point of view is if you swipe right intentionally or accidentally you are taken to the next publisher’s article. Surely as a publisher you wouldn’t want it to be this easy to be able to end up on a competitor website, losing potential ad revenue.

Tech Partners Involved In AMP Integration

A number of publishers and websites have worked with Google to implement the service. Influential companies such as Twitter, Pinterest, WordPress.com, Adobe Analytics and LinkedIn are among some of the first group of technology partners planning to integrate AMP HTML pages.

There was some initial reservation in regards to advertising, however this has also been addressed. More than 20 ad tech providers have joined the initiative including AdSense, DoubelClick and OpenX.

It will be interesting to see the impact of this initiative for the publisher, from the readers point of view it makes sense and provides a better experience.

 

source: Tobias Matthews, Fourth Source

Increased Traffic is a Hunting Ground for Cyber Attacks

Increased traffic indicates increased profits which only acts as a hunting ground for cyber attacks from fraudsters and hackers

These threats can do more than just lead to a reduction in sales and revenue loss; they can also damage the image of the brand.

Recent research from the Ponemon Institute identified that 88 percent of consumers distrust a website that crashes and 78 percent of consumers worry about a company’s security when a website is sluggish. This highlights the extent to which website performance influences perceptions.

Failing to protect your online presence from outside threats or allowing it to crash due to traffic overload is a critical error for e-tailers as a slow load or frequent downtime will erode consumer trust in a brand’s digital presence. Rebuilding this will be a costly and time consuming endeavor.

Technology issues may be the cause of poor website performance but this also might be caused by cyber threats. The following describes just a few of the threats that e-tailers should be aware of and outlines how they can act against them:
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Site Overload

It’s obvious, but websites get much more traffic during seasonal shopping periods, which puts extra pressure on the website. If brands don’t test their sites to see if they can handle peak traffic, disaster can strike.

The simple solution is to perform load testing in the run up to periods that are forecasted to be busier. By bombarding your site with traffic in a controlled environment, you can gauge how it will perform well in advance of the rush. This leaves enough time to tackle any urgent issues before it affects sales.

eLuminateNetwork.com cyber security

DNS Cyber Attacks

Have you ever tried to access a brands website only to find yourself on a completely different site all together? This is known as cache poisoning, aka DNS spoofing. Hackers hijack trusted websites in order to redirect customers to bogus pages where their logins, passwords and credit card numbers are siphoned off.

Solutions to combat this include digital signatures, which ensure that DNS responses are identical to those from your authoritative server, meaning you are protected against forged or manipulated data. Look for a managed DNS service with hardened security features—any good DNS protection provider will provide this at no extra cost.

Also, non-open source resolvers (unlike BIND) are less prone to malware, viruses and attacks; and go for advanced security: permission levels, two-factor authentication and access control list (ACL) by IP to restrict access to DNS records.

eLuminateNetwork.com cyber security

Authentication Fraud

The Internet is the perfect feeding ground for fraudsters. It combines anonymity, reach and speed making it easy for those trying to use some else’s identify in order to make online purchases for free. Knowing whether purchase requests are legitimate or fraudulent could save your brand millions.

With seasonal shopping events and increased trades it is natural that there will be an increase in activities like registering on shopping sites and applying online for credit. E-tailers need to have the ability to confirm instantly whether a request is legitimate or based on stolen or fictitious identities. Validating online purchasers’ information can be completed quickly and accurately using a reputable fraud detection and data validation service.

eLuminateNetwork.com cyber security

DDoS Cyber Attacks

DDoS attacks can often be carried out by competitors or political/social activists and can take three form:

  • Volumetric Attacks, which saturate a site’s bandwidth with high-volume traffic (UDP floods, ICMP floods, and other spoofed-packet floods)
  • Protocol attacks, which consume server resources or those of related communication equipment, like firewalls and load balancers (SYN floods, fragmented packet attacks, Ping of Death, and Smurf DDoS)
  • Application Layer Attacks—often masked as legitimate traffic, these more surgical attacks aim to crash the web server (Slowloris, zero-day attacks, Windows or open BSD vulnerabilities, and attacks that target Apache).

Alarmingly, hackers implementing DDoS attacks don’t need much to get up and running. They can be powered by cheap tools that are widely available online. These attacks are the easiest way to disable websites, often as a smokescreen whilst malware or a virus is installed.

Recently there has been a rise in the number of attacks that have been followed-up with a ransom demand. Online brands should implement countermeasures with purpose-built DDoS protection—hybrid solutions are best, combining on-premises hardware and cloud-based traffic scrubbing.

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Trust Is Key

In our always-on and always-connected world, the digital storefront of a brand, regardless of industry, may well be the first and only “touchpoint” a customer has with a company. During competitive seasonal shopping periods a brand’s marketing, IT and security roles should converge in order to deliver a safe, trusted and seamless customer experience.

It is imperative that the leaders of these three groups have an ongoing, open and trusted dialog that points to the achievement of a shared goal. Failure to do so creates the real possibility that customer loyalty will be destroyed.

 

source: Margee Abrams, Director of IT Security Services Product Marketing for Neustar, Inc.