The New Kid in Your Digital Marketing Mix: CPR™ Effortlessly Ties Digital Ad Spend to In-Store Sales
by Jon Carder
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Jul 16, 2018 8:59:00 AM / by Jon Carder
What online ad led to the last ka-ching at the register in your stores? What about the 100 purchases before that? Cost-per-revenue (CPRTM) marketing is designed to make those answers possible, and even simple.
Yesterday these questions would be difficult, if not impossible, to answer. There is little data that follows ad campaigns to physical locations, and even less that can tie this to a unique transaction. In the rare instances this type of online-to-offline connection did occur, it was an extremely manual process that rarely sent results back to marketing departments.
Proper attribution requires knowing the right ad and customer. Most companies run dozens to hundreds of ads across multiple platforms. Asking the customer to recall an ad at checkout and having clerks record this accurately is a massively manual process that is prone to significant human error. Or, customers could forget their coupons at home and leave the store without making a purchase at all.
Today, all the customer has to do is pay.
That’s the beauty of the CPRTM marketing technology first developed by Empyr. It’s a new attribution model that does all the heavy lifting behind-the-scenes, so you generate sales without disruption or adding friction to the customer’s purchase process.
Cost Per Revenue (CPR™) is a new addition to the digital marketing mix (next to CPC and CPM) that drives online audiences to your offline stores through promotions on some of the best websites and apps.
Your business creates a promotion or offer (like 5% cash back) that is then advertised across the Internet on great websites and apps that your customers already use like Yelp, RetailMeNot, Acorns and Coupons.com. Empyr’s network reaches over 319 million consumers across these websites and apps which are known to drive offline sales.
The whole process is tied together via card-linked technology. Customers are offered a cash back reward online, that can be redeemed when they make a purchase in-person. To get the cashback, all they have to do is link a card to the offer they see online and then use that same card in the store.
It’s a proven technology that Empyr has already provided to power services like Yelp Cash Back Rewards and dozens of other programs.
Two things happen at the point of purchase when the customer uses the card they linked to your cash-back offer:
1. The consumer earns rewards, such as cashback.
2. You (the retailer) make a sale and pay for the CPR™ ad linked to the offer. It’s the first and only time you pay anything for a CPR™ ad.
One reason marketers are gravitating toward the CPR™ platform is that they aren’t paying for ads that fail to prove, or provide, results. Advertisers only ever pay for an ad when customers make an in-store purchase with their linked card.
A bot may view an ad, but it isn’t going in-store to make a purchase. Pay for revenue, not bot views.
CPR™ marketing presents a pivotal piece of a complete campaign. Search and CPM ads help educate new customers and drive interest in your overall brand. Then, CPC and retargeting can drive leads to specific purchase pages or work to get someone to revisit your store or shopping cart, further cementing interest.
The concern with these models is that they cost you based on an activity that does not necessarily generate revenue. You’re paying to educate and hoping to generate leads. And, while they’re easy to track online, they’re nearly impossible to track to in-store purchases.
Since 90% of purchases still happen in brick and mortar stores, it’s important to not just focus your ad dollars on ecommerce.
CPR™ marketing is tied to specific revenue-generating events. It requires a lead to become a customer, and it provides attribution from the ad interaction to the in-store purchase. It can help validate lead-gen efforts.
CPR™ gives you a few specific benefits:
1. Reach millions of people on websites and apps that they frequent daily, and then only pay for your ads when an in-store purchase happens.
2. Get a complete dashboard of impressions, who saw your ad, bought in your store, and related information.
3. Easy automation with easy in-store activation.
Using CPR™ as part of your remarketing campaigns can help you draw a clear line from early CPM or CPC ad interactions to the CPR™ ad unit and then finally to the store. You get a holistic view of what does and doesn’t work from the very beginning.
CPR™ can be educational when opened up to new, lapsed, and recurring customers. CPR™ is budget-smart no matter where you deploy it in your customer journey.
Think of the Starbucks app on your phone. It’s linked to a credit card and provides a detailed analysis of your purchase history and habits. It’s everything from orders and tipping preference to the locations and times you buy. It also encourages you to spend more by making your rewards system (and the next tier) constantly visible.
Then, it sends all of that information, including the success of its gamification rewards tiers, back to Starbucks. The company uses that to market directly to you via email and push notifications.
It is a running record of historical customer data and by giving you small rewards — only some of the time — you run the majority of your purchases through it. You and every other app user are happily delivering a steady flow of data that Starbucks uses to understand customers with incredible precision.
CPR™ marketing tools expand this capability for almost any company with or without an existing customer account tool or loyalty program. It goes a step further by tying initial activity to an online ad, giving you a clear path from digital spend to physical purchase without the existing gaps.CPR™ is a validation tool for your customer journey.
In the digital advertising world, marketing techniques need to be easy to implement and give significant bang for your buck, otherwise it wastes your time and budget. It’s the guiding principle behind all common marketing practices, and CPR™ fits this mold.
Empyr offers a CPR™ model that allows you to create and deliver a seamless experience to your customers plus gives you a frictionless way to report ROI along the entire customer journey from impressions to in-store purchases.
We were the pioneers in the greater-detailed tracking capabilities of CPR™ and have developed a clean process to see how your digital ad spend translates to in-store purchases, following the CPR™ model. Learn if you’re CPR™-ready for free by telling us a little more about you.