Everything a marketer and insights professional does should be towards one goal – Driving growth. Understanding the touchpoints that have the most impact to the most people means even small teams can optimise their marketing efforts for maximum impact.
Measuring conversion is not easy: shoppers are exposed to multiple touchpoints from competing brands each time they make a purchase and, often their decisions are not made through a conscious evaluation process. However, at Nepa, we’ve developed a technique, called Conversion Power, to accurately quantify the effectiveness of touchpoints in conversion, even when purchases seem automated.
Conversion Power analysis
Nepa’s Conversion Power analysis measures touchpoint effectiveness by calculating the increased likelihood of a brand being chosen when a shopper is exposed a touchpoint of that brand prior to purchase. Conversion Power values are linked to real-life outcomes and are directly comparable. For instance, a Conversion Power of 50% means that a shopper is 50% more likely to buy Brand X if exposed to that touchpoint than if they aren’t.
Additionally, it indicates that this touchpoint is twice as effective at converting shoppers compared to a touchpoint with a Conversion Power of 25%. Our approach also determines touchpoint influence through advanced statistical modelling of observations. By doing this we avoid potential inaccuracies caused by biases in claimed respondent influence.
Measuring conversion this way empowers brands to optimize their activation strategies by defining which touchpoints to invest in based on their uplift values.
