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Hanover Direct Improves ROI with Accurate Marketing
Attribution from Coremetrics
Coremetrics Accurately Applies Credit for Sales to all Online Marketing Channels Over Time
SAN MATEO, -- Coremetrics, a leading provider of marketing optimization solutions, today announced that Hanover Direct, Inc. (HDI), provider of quality, branded merchandise through a portfolio of catalogs and e-commerce platforms, has increased the return on its marketing investment through a better understanding of how all paid channels influence sales. Coremetrics marketing attribution reports have given HDI the ability to precisely measure the effectiveness of its paid channels by tracking clickthroughs other than the last one before the sale.
Prior to using Coremetrics' new attribution management reports, HDI assigned credit for sales to the last link that a visitor clicked before purchasing, a method that did not take into account all channels that influenced the buyer. Now HDI can see how its paid channels, such as paid keywords and comparison shopping engines, influence customers' buying decisions. This allows the retailer to allocate its marketing spend for optimum ROI.
"Coremetrics helps us measure the incremental impact of online marketing and develop an attribution model that allows us be more effective in allocating our marketing spend," said Ken Mitchell, director of internet
marketing at Hanover Direct. "For example, using Coremetrics marketing reports, we apply credit to online visits, orders and sales across all the links that visitors click over time. With this data, we are able to
accurately value the impact of traffic from referrals, regardless of where or when it occurred in the visitor profile."
Because marketing spend is allocated based on each channel's contribution to sales, HDI needs to precisely measure the effectiveness of its paid channels. Coremetrics analysis revealed that paid marketing is
actually driving the first site visit and that following visits convert in trademark campaigns, natural search or email. By accurately attributing sales to the appropriate marketing channels, HDI can now justify the
resources it needs to compete effectively for high-value keywords and top placements. "The beauty of the custom reporting and the new release is that they create visibility that simply never existed before," said Matthew Hamilton Bailey, Internet marketing analyst at HDI. "The new logic provides keyword-level reporting on 33% more sales than I could account for using last-click attribution--that helps me to bid smarter at every step in the selling process and actively pursue those high-growth opportunities which had previously appeared too costly."
Hanover Direct is also leveraging Coremetrics to help with catalog matchback. The matchback effort enables marketers to distinguish online sales that are attributable to one of the company's catalogs. These include
Domestications, The Company Store, Company Kids, Encore, Silhouettes, International Male, Undergear, and Scandia Down. By analyzing various attribution windows in Coremetrics reports, HDI discovered that the majority of purchases driven by paid search keywords and comparison shopping engines are incremental. These reports also identified significant levels of demand in other channels previously attributed solely to
customers already receiving catalogs.
"Most marketers intuitively know that multiple campaigns and initiatives such as banner ads, affiliates, non-branded paid search, natural search and email positively influence their buyers," said John Squire, senior vice president, product strategy and general manager, marketing services at Coremetrics. "They don't have the precise data that tells them exactly how each channel is contributing to the ultimate purchase. Coremetrics' approach to attribution management helps clients like HDI make more informed decisions about how to allocate marketing spend across online and offline channels."
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