Kwantum is the largest homeware discount store in the Netherlands and Flanders, and the market leader in the product categories floor coverings, laminate, curtains, wallpaper and lighting. Apart from their extensive network of 100+ store locations, they are also very active online. Kwantum generated €191 million in revenue in 2014 and employs 1600 people. They were part of the stock-listed Macintosh Retail Group and were recently sold to a private company.
What Was Their Goal
The main challenge for Kwantum is that they want to sell more of their products online. Since most products are complicated or costly to order this seemed to be a challenge. Furthermore they wanted a high level view on all marketing efforts and their bottomline impact.
Our Translation of the Goal
Kwantum posed two questions. First they wanted to increase the revenue in the web shop. Secondly they wanted an holistic overview of the effects of the online marketing campaigns. At Bossdata every client goes through the same methodology. Even if they have clearly defined a goal that they want to achieve we question it.
Since we would be judged on conversions and conversion ratio, an important first step would be to clearly outline what visitor behaviour on the website would be considered conversions. Because of the large offline presence of Kwantum, there are many more ways to add value other than just e-commerce revenue. As evident in a multi channel shopping environment the outcome of campaigns could be both on and offline. Therefore both conversions should be taken into account when looking at conversions. For Kwantum this was a major game changer. A KPI was identified on the website that could be measured as an offline conversion.
Secondly we wanted to generate a report that gave an holistic view on campaign outcome. The goal was to get all cost data and revenue data in one report that was updated on a daily basis. Since they were using many marketing channels (Google, Bing, Facebook, Addroll, Youtube, Critieo, Beslist, email, etc.) we were lacking cost data in Google Analytics.
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Metrics we Measure
For all campaigns we measured e-commerce conversions.
Unique for Kwantum we took into account that the website also generates offline conversions.
Want to know how we measured offline conversions?
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From Goal to Action
For a multi channel company not taking into account that people who click an ad, go to your website could end up in your store is a deadly sin. If you only take into account the online conversion you are steering on half the truth.
Think about it. Campaigns that currently have a negative online ROI could in real life generate a positive ROI offline. But a marketer would only look at online and therefore stop/ downsize the campaign while in fact it should be increased.
Once the KPI framework was in place, we developed a very thorough and uniform reporting (read more here), to get the best possible insights into Kwantum’s business. This way, we had an image of the business as a whole, as well as detailed insights on each channel specifically. In this way for example all “product feed” campaigns are being accumulated into one overview.
We do NOT generate a report that is only a representation of data that is easily available in for example Google Adwords. We want to provide insights that you cannot get from Adwords. Our reports for example provide information about the 13 month trend of your non branded search traffic compared to your branded search within data from both Google Adwords and Bing ads.
Online – Offline attribution
Total economic value
Campaigns on true ROI
More to do?
We didn’t just improve the conversion rate, we revolutionised the way conversions are measured at Kwantum. The framework that was established will help Kwantum to evolve towards a situation of ROI-driven marketing spend. We are convinced that this will give Kwantum a major competitive advantage.
For every level of the organisation we provided a made to measure report that answers to the main question “are we doing a god job: yes or no”. The report allowed everybody involved to optimise their efforts for each channel individually, while keeping a helicopter view. The report is updated daily and Kwantum owns it. Our added value is generated because we provides actionable insights.
The campaigns objective is to maximise conversions for the budget that is available. This is not the ROI approach that we strive for. We want to proceed to an effective determination of the value of those conversions that impact the offline business. We have identified several methods to achieve this.
Another important topic to tackle is the attribution question, to effectively gauge the added value of each individual channel. Once we know what the value is we need to identify accurately what channels generate the most of it.
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