A blog for students of Professor Kagan's Digital Marketing Strategy course to comment and highlight class topics. From the various channels for marketing on the internet, to SaaS and e-commerce business models, anything related to the class is fair game.
Thursday, February 20, 2020
MikMak PaddyWak - Throw a Marketer a Bone
MikMak Paddwak - Throw an Influencer a Bone
Attribution of marketing spend becomes increasingly important with marketing leaders aiming to optimize spending and their returns. Enter MikMak! What's MikMak? The founder describes it as:
"software [that] works across all digital and social channels so brands can have a unified storefront across channels and retailers, which, in turn, provides brands with standardized measurement and benchmarks across channels and retailers.”
Pretty cool! MikMak takes all the data across all its unified platforms (web, apps, mobile, etc) and then feeds it back to firms for easier understanding and more efficient operations. With this platform, MikMak is uniquely positioned to tackle something that I think about while scrolling mindlessly on Instagram: How effective are my random friends from high school at selling whatever baby products they are being sponsored by?
MikMak is able to see through the fake followers and understand revenue conversion rather than just clicks. According to one executive from Hershey, they see add-to-cart ratios on Instagram similar to those from other digital marketing platforms. Good news for my high school friends!
Sources:
1) https://adage.com/article/digital/new-tool-aims-track-whether-influencers-other-digital-ads-actually-drive-online-sales/2237996
2) https://www.mikmak.tv/
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