Harnessing the Power of Intent Data and Predictive Analytics

Harnessing the Power of Intent Data and Predictive Analytics
Michael Mire, SweetIQ

Local search is the ultimate indicator of intent.

• We’re doing it all the time. (4 in 5 consumers use search engines to find local information.)
• We’re doing it more and more. (Google search interest in “near me” has increased 34x since 2011.)

We’re on our way to online to offline (O2O) direct attribution.

• geo targeting / geo fencing
• beacons
• redemption / purchase in a store

Today, there are lots of moving parts, which makes it look a lot like Swiss Cheese.

• estimote (beacons)
• RetailNext (wifi analytics)
• xAd
• Placed
• NinthDecimal
• NOMi

You’re only able to track <3% of the market today, so it’s difficult to create a reliable model.

Build an O2O attribution funnel / model.

• Impressions – number of times your stores appeared in local search
• Local Search Behaviors (LSB) – amount of website referrals, calls, and driving direction requests (microtransactions)
• Conversions – percentage of click throughs that result in an online visit or an in-store visit.
• Sales – percentage of conversions that actually result in sales

O2O sales mimic online results.

Step 1 – monitor LSBs

Direct Attribution

• coupon/offer
• reservation
• download
• e-commerce
• beaconing (in the future…)

Indirect Attribution

• Finding a Local Listing -> see and go!
• Click for call
• Click for directions
• Leave reviews
• Mobile/Geo-targetd Ads

Step 2: Track in-store conversions

Local Search

• 68% connected with the business
• 71% visited the business
• 18% purchased

Step 3: Know your average purchase value

Know what the average visit in store converts to.

Step 4: Track the performance over time

The model may not be perfect, but if you can track over time, you can see

Step 5: Calculate your local revenue

Step 6: Calculate Local ROI

ROI = Local Revenue / Program Investment

Case Study – Chuck E. Cheese

Local Search Behaviors

Online to Offline Attribution Model

Impressions – Local Search Behaviors – Conversions – Sales

Target ads based on location