The buying journey is more complex than ever with consumers using an average of 5 connected devices in the purchase process. As these channels blend together, attributing sales is becoming next to impossible for retailers.
The first step is removing silos within your organization. Shoppers are no longer categorized as simply mobile, desktop or in-store shoppers, and your organizational structure should reflect this. In order to get a holistic view of the customer journey across channels, retailers can’t have siloed ‘channel’ teams using separate technologies and working towards different goals. The ultimate goal for your team should be to increase sales – whether those sales happen to be in-store or online shouldn’t matter. Once everyone is working toward a unified goal, you need a platform that can track data across all channels and then engage shoppers accordingly.
Attributing Cross-Channel Sales
The next step is determining how to attribute sales in order to:
- Gain internal buy-in and executive support to invest in new projects.
- Ensure customers are segmented correctly.
Many retailers hit a roadblock when it comes to cross-channel sales attribution, but there are different attribution models which can help. One option is a fractional attribution approach which enables you to attribute portions of sales to different channels. Another is a data-informed approach in which, rather than allowing customer data to define the customer journey, data is used to start hypothesizing why customers are shopping with the retailer and it’s then layered with third party data.
Deloitte reported that mobile usage influenced $970 billion in sales in 2014, representing 28% of the total. While mobile-influenced sales are an important consideration in the attribution process, they are often forgotten, or ignored, as they’re difficult to measure. However, there are factors that you can look at to help calculate this elusive number. Read our guide to measuring mobile ROI to learn more.
We know that simplifying channel complexity and attribution isn’t the only challenge you face as a retailer. Download our guide to solving your top 4 most pressing retail challenges.