Customer Journey (CJ) is at the very core of Dripit.
A Customer Journey documents site visitor's experience through their perspective, providing insights into their interaction with your website or product. To understand which marketing areas will bring the biggest returns on your investment (ROI), you need to understand the actions of your customers, and more importantly - which marketing factors influenced which parts of their journeys.
By understanding your Customer Journey, you can better understand which of your marketing efforts are paying off. Literally.
Nowadays marketing performance is calculated in one of two ways - either by counting clicks and visits or by using attribution algorithms.
By now most people have understood that counting clicks and visits is not the best way to determine how good/bad is a particular solution. Customers often make multiple visits and engage with multiple advertising solutions and marketing tools. Then there are rule-based attribution models. Those models are a step closer to solving this problem but are fundamentally insufficient at representing the full impact as different solutions have different goals. There are solutions which are helpful in acquiring customers, and there are solutions which are useful in moving customers down the funnel, but ultimately rule-based models can't evaluate both of these perspectives. There are also statistical attribution models based on Game theory (Shapley value), Survival analysis, and the Markov model. These take into account how different tools work together, but their inner workings are not clear for most marketers and don't build trust. As a result, people are going back to the "good ol'" last-click attribution model. Yes, it is not perfect, but at least one can understand how it works and where it is flawed.
Now, at Dripit we have also tried the approaches mentioned above - we implemented them and evaluated their effectiveness. Yes, we have also implemented these statistical attribution models. So it is with confidence that we can say that they're not delivering on the promise.
At Dripit, we measure quality metrics based on customers, not clicks or visits. Customers either buy your product or abandon the whole purchasing process. We therefore combine all customer interactions with a website or online product into one unified Customer Journey, which can span across multiple days, visits, devices, and systems. We collect information on these Customer Journeys and use it to calculate costs and conversion rates. Since there can be multiple visits and interaction points, Dripit can calculate the exact cost for a single Customer Journey that ended in a purchase, as well as just how much money has been wasted on clicks without conversions.
As a result, Dripit provides you a more precise picture of revenue, costs, and in the end - return on your marketing investment.
And there is one more benefit of the CJ approach - it's now possible to determine the effectiveness of a particular advertising or marketing tool across the whole journey. You can identify which tools or campaigns are more efficient at specific stages and help move visitors down the funnel.