Karl Wood is the Senior Network Development Manager at Rakuten Marketing. Within this role, he manages some of the UK’s largest revenue driving publishers to help them grow revenue on our network through partnerships, whilst helping our advertisers to achieve their goals.We recently caught up with Karl to find out how his team has been using attributed data to arm his publishers with competitive insights, moving beyond metrics such as order growth, in order to help them build strong case studies to win new business.
Every day, affiliate networks are gathering vast amounts of data and consumer information. More often than not, this data is not being used effectively and, after being used to calculate commissions, it’s relegated to the archives.
Through the Rakuten ecosystem, we have access to a huge amount of consumer data across the entire user journey which gives us substantially richer insight into how publisher verticals are performing. Viewing publisher value beyond the last click has helped us create new performance metrics, such as:
- Cost of new user visits
- Initiating revenue (the attributed revenue awarded to publishers who are the first or only touchpoint in the user journey)
- Attributed value vs. last click
We have used these metrics to provide advertisers with data on which publishers best suit their campaign goals and benchmarking data to help them make the right decisions when onboarding new partners.
On the flip side, this data has armed publishers with the insight to form new partnerships and showcases the value of publishers who are often overlooked on a last-click model.
Below are a few more examples of how we have used our attributed data to provide value to our publishers across our network:
The value of cashback in the luxury sector
Luxury retailers can sometimes be hesitant to work with cashback publishers as they don’t always align with their brand positioning. However, using attributed data, we have found that cashback publishers can add value for luxury retailers and play a key part in the buying journey.
For one of our clients, a luxury retailer, our data revealed that the average order value (AOV) was 55% higher when a cashback publisher was part of the user journey. As well as this, for a high-end beauty brand, we discovered a 71% uplift in revenue attributable to the cashback publisher when compared with last click.
Driving new partnerships
We progressed conversations between one of our market-leading voucher publishers and a well-known high-street jewellery brand to put in place a partnership trial. Without our additional attribution insights, this would not have taken place due to common misconceptions associated with voucher publishers.
We were able to show the retailer that this specific voucher publisher was able to drive new customers and start a large number of customer journeys. This installed confidence in the client to run that trial and form a new partnership.
Attributed payment models
In order to take further advantage of attributed data, we’ve seen several of our clients move over to an attributed payment model. This has helped them to ensure marketing budgets are invested effectively with publisher partners to generate an increased ROI. In addition, this model has helped advertisers understand each of the individual touchpoints within a customer’s increasingly complex path to conversion.
For one of our clients, splitting the commission across all affiliates in the journey increased the number of publishers getting credit. Digging into the data, we also found that 34% of journeys involving affiliates contained more than one publisher and 17% of journeys involving just one affiliate publisher contain multiple interactions with that publisher. This data has given us considerably greater insight into the role publisher’s play in the customer journey and more publishers are receiving credit for their contribution to sales.
Every publisher model has its own USPs and within each publisher vertical there are key players and mid-tier contenders. Attributed data is essential to understand what has happened beyond the last click and to see the publishers that have been instrumental in driving valuable customers across the entire user journey.