I gave a talk at Conversion Road Trip NYC 1st June, 2015. I talked about unlocking unmet demand in your AdWords account and making sure you capture all the customers you could for each market.
Lets say you want to quit your job tomorrow and start a business renting designer jeans to the middle class based on a monthly subscription fee… or maybe a one off cost for the weekend.
You setup your AdWord account and have the perfect ad copy, keywords and account settings. You put in your budget for each campaign and just before you launch you add in your location targeting.
What I see clients do from Toronto to London and back to Vancouver is put everything major English speaking country under each campaign. The challenge is you’ve countries fighting for budget and no one country can truly max out their budget and capture all the leads or customers for that market.
Oz & NZ start spending their budget and then the UK and by the time you start spending money in USA, you’ve spent almost half your campaign budget, which doesn’t leave a lot of room for USA.
3 years ago I wrote a short piece on Brazil’s super power status and how they are the country to watch out for. Since that time China has been seeing a weakened economy with a forecasted GDP growth of 6.8% this year and 6.3% in 2016. Russia has extremely high unemployment and tons of political issues it’s dealing with, not to mention everything to do with Ukraine.
India has its own challenges going on and despite those challenges around investments and current tax laws. Many German tech companies is it’s a better investment than the other BRIC countries. BRIC comprises four countries — Brazil, Russia, India and China. GDP growth is looking to 7.5% over 2015 & 21016 in India.
What’s driving this growth are automotive, telecom, civil aviation and airports, transportation infrastructure, water, renewable energy, heavy engineering and media & entertainment. Not to forget financial services, which gives many people access to money which they didn’t have before.
When dig into these sectors you see Uber’s biggest competitor in India is Ola, which raised $400M with a goal to cover 200 cities in India alone. That’s an ambitious goal but one that they have the advantage of understanding the local market and something Uber will have a hard time learning. We’re not in silicon valley anymore.
With challenges around education and access to the Internet, you see fashion retailers like Myntra close their site and focus 100% on their mobile business. Some might say this is taking mobile first to the extreme but when the majority of your target market doesn’t have a computer and only accesses the Internet on their mobile phone, it makes complete sense. Similar to m-banking that is huge in many parts of Africa. Or read Jason Del Rey’s piece on India Tech Startups: Seven Things That Blew My Mind. Adding fuel to the fire.
If India isn’t on your radar as market to show your products too… you’re missing out. Everyone from Google to Facebook to Amazing has or plans to open an office there and for good reason. Intelligent and educated people who want to do the work. India is going to be an even bigger country over the next couple years..even beyond the 1.2 billion people who call it home now.
A few weeks ago I attended a conference in Portland, Oregon and had an amazing time (in Portland not the conference). Great food scene and tons of stores to do some shopping in.
However, a few of the topic sessions at the conference talked about attribution and moving us beyond last click (or even first click). Everyone seems to be very set on using position based attribution for their model of figuring out how to assign sales and conversions to different channels in their customer journey.
A quick primer on different attribution models. There are several types of attribution models:
- Last interaction attribution model – This model assign 100% credit to the last interactions. Google Analytics uses this model by default. Also known as last click.
- First interaction attribution model (popularly known as first touch attribution model) – This model assign 100% credit to the first interactions. This is what Google AdWords and Bing use.
- Linear attribution model – This model assign equal credit to each interaction in a conversion path.
- Time Decay attribution model – This model assign more credit to the interactions which are closest in time to the conversion. e.g. If there are 5 click, than each would get 20%. If there were 4 click, than each would get 25%.
- Position based attribution model – This model assign 40%(or 30%) credit to the first interaction, 20% credit to the middle interaction and 40%(or 30%) credit to the last interaction.
Using position based attribution while saying all first & last clicks are the same value is odd. What if one channel is bringing in higher value customers with a higher lifetime value (LTV) than another channel. Isn’t that channel worth more to the business?
And if that channel is worth more, that starts to make any model you build utterly more complicated. Not to make anything more complex but Google also now has data driven attribution, which I thought was new but it seems to be something that Google Analytics premium customers have had for a few years now.
I don’t have all the answers but I know paid search drives a lot of top of the funnel conversions for clients I’ve had over the years even if that person converted from another channel on the lsat click. How much of that sale should paid search get is the question I still ask myself.
I’m lucky to have been picked to speak at MozCon 2015 in the community speaker slot. Competing with 240 other pitches… it wasn’t easy for MozCon to pick just six. I’ll be talking about remarketing and making it a more delightful experience.
You can also hear from 5 other amazing speakers:
Adrian Vender is the Director of Analytics at IMI: @adrianvender.
Chris Dayley is a digital marketing expert and owner at Dayley Conversion: @chrisdayley.
Gianluca Fiorelli is a known international SEO and inbound strategist: @gfiorelli1.
Ruth Burr Reedy is the head of on-site SEO for BigWing Interactive: @ruthburr.
Stephanie Wallace is director of SEO at Nebo: @SWallaceSEO.
Hope to see you in Seattle 13-15th July, 2015.
DigitasLBi’s 2015 Connected Commerce study of retail trends reveals a significant rise in the use of connected devices. Consumers now use a total of 5 devices before making a purchase; a significant increase from the 2.8 devices reported in 2014.
This global reports shows not just a shift but a change in habits across 17 participating countries include Australia, Belgium, China, Denmark, Dubai, France, Germany, Hong Kong, Italy, India, Japan, the Netherlands, Singapore, Spain, Sweden, the United Kingdom and the United States.
Check out the Connected Commerce Survey 2015 report or hit up Slideshare.