Marin SEM Tool Assigns Keyword ROI
The Multi-Conversion Tracker, a tool integrated in the Marin Search Marketer application, lets marketers define the worth of keywords by assigning metrics and parameters that monitor clicks to conversions.
The tool also allows lead-generation businesses such as insurance and finance to measure the value of keywords, even when an immediate conversion of the sale does not occur. And marketers can get an accurate view of keywords that drive consumers into stores.
For instance, a marketer typically pays $3 for the click to get a 2% conversion rate online. Marin's tool also assigns measurements to actions that help marketers understand the percent of people who print coupons online and use them in brick-and-mortar stores. "If you know that printing a coupon is correlated with going into the store and making a purchase, you can bid on those keywords that help you make the conversion," said Marc Barach, CMO at Marin Software, San Francisco.
A gathering last week in Mountain View, Calif. brought together a select group of retailers, agencies and clients. Barach said that's where Google executives reminded attendees that the average ecommerce conversion rate from paid search stands at 1.72%.
While that number fuels the $11 billion paid search estimate and creates $100 billion market capitalization for Google, Barach said, the 98% who click on ads and go to Web sites don't buy anything at that moment, but often search for product information and prices and reviews. In aggregate, the conversion is 3.5 times higher in the store compared with online. Marketers want to have an option to track that conversion from online to store, but many say they need a tool to measure, manage and take credit for the sale.
Multi-Conversion Tracker is one of nearly seven tools that Marin plans to release this year. Others coming down the pike will focus either on campaign setup and management, bidding, reporting and analytics or keyword expansion.
In late February, the company plans to release a tool that ties into a company's inventory management systems. This means that when an item sells out, the paid click ad that lands on the retailer's Web site will disappear until stock in the warehouse replenishes. The tool also would monitor pricing for the item.
Another possible application would allow marketers to create campaigns automatically. Retailers rolling in spring inventory only need to enter an item number and the tool would do the rest to create campaigns. Adjusting bidding strategies and creative based on inventory is still up in the air.
Part of a maturing vendor landscape means creating more or better automation for different pieces of search, said Forrester Research Principal Analyst Shar VanBoskirk.