Why is marketing attribution the holy grail for movie marketing All things related to campaign and conversions tracking Oliver Fegan
Marketing attribution enables you to attribute a sale back to a marketing campaign thereby providing the campaign with a marketing conversion rate. This rate means you can measure, as a key performance indicator (KPI), how effective each individual marketing campaign is in relation to an objective such as a cinema ticket sale or TVOD/PVOD purchase.
Giving each campaign a conversion rate will enable you to cut out poor campaigns and divert spend to better performing campaigns. The return on investment increases, more transactions happen and all stakeholders win.
For a movie distributor to measure an attribution rate for a marketing campaign, it requires one of two things;
a) that the cinema point of sale provider sends back a confirmation that a cinema ticket was purchased via their own website or;
b) you can power the ticket purchase yourself and therefore measure the conversion rate directly.
To be most effective and to create a win-win for all parties, full ticketing functionality works best. It not only enables distributors to measure their marketing effectiveness; it also enables them to formulate a true eCommerce purchase funnel where they can create re-targeting campaigns for fans who start but don't finish the purchase journey.
The distributor has a vested interest to know which people stopped during their purchase journey stopped at say the price card or seat map steps to enable them to convert customers to complete this journey can add a significant percentage to the bottom line. You won't see eCommerce giants leave this money on the table and neither should distributors. Especially when it creates a win-win for all parties. The cinema not only gets their regular slice of the revenue but an additional sale is an additional popcorn sale and watching upcoming trailers is more likely to lead to a repeat visit then scrolling through netflix.
Connecting marketing to the purchase process is greatest shortcoming when you compare cinema to say someone like Amazon. Their whole focus is on improving their marketing attribution and know what the likely conversion rate is for most products they sell and base re-targeting spend on this.
Constant monitoring and advertising process improvements lead to lower marketing costs and higher product margins and repeat business.Did this answer your question?