And yet...a curious phenomenon lingers: brands and retailers are spending money on advertising, trade shows, retail spaces, and marketing collateral and have no clue where their sales are actually coming from.
Let’s depict a common scenario: a high-end brand, with its own showrooms in multiple design hubs, runs campaigns to generate leads and physical visits to its locations. While the lead flow is generous, once an opportunity is passed to the sales team, all visibility is lost. What is the close rate for email leads vs. showroom visits? Which campaigns are driving the highest value customers? This is where attribution comes in.
Why is lead attribution important?
- In order to efficiently spend where it matters, furniture and design companies, both D2C and B2B, need to be able to track their marketing efforts and understand what is driving sales and what is not.
- It helps you to track the customer journey. This information can be used to improve your marketing campaigns, make them more relevant to potential customers, and make them more likely to convert.
- It helps you to calculate your return on investment (ROI). This information can be used to assess the effectiveness of your marketing campaigns and make sure that you are getting a good return on your investment. After all, why spend on something that adds no value?
Here are a few examples of how our clients in furniture and design have used lead attribution to grow:
- Through a simple CRM integration and frequent matchbacks that closely followed the customer journey, a client discovered that most of their leads wanted to browse some sort of product catalog before reaching out. The cost of acquiring a customer through a catalog download was much lower than generating a lead at first touch, but once the customer was able to browse, they were much more likely to request a quote and come to a physical showroom. This insight effectively lowered their acquisition cost and increased lead flow.
- Another STAPHAUS client used lead attribution to identify the marketing channels that were not driving any leads. They stopped spending money on those channels and used the resources to invest in more effective channels.
The takeaway
Lead attribution is a powerful tool that can help furniture and design companies grow. By understanding which marketing channels are driving the most leads, tracking the customer journey, and calculating your ROI, you can make data-driven decisions that will help you to take your business to the next level.
STAPHAUS works with furniture, lighting, and materials companies to grow their businesses using digital tools. We’re on a mission to help furniture and design companies compete in the digital age by leveraging digital marketing tools. The rules of the game have changed, having a good digital presence is now essential to stay competitive, both in retail and contract markets.
