Pandora – from lonely hearts to connected charms…

The client

Pandora is a Danish jewellery manufacturer and retailer founded in 1982. Although it started as a family-run jewellery shop in Copenhagen, it has now become a global multi-platform retailer. Pandora is famous for its customizable charm bracelets, designer rings, necklaces and watches. Pandora approached 55 as they want to be empowered to make ‘less wrong’ decisions when it comes to digital performance & budget allocation optimization.

The challenge

Like with many online retailers, Pandora has relied on last-click in-platform channel performance reporting, as well as a cross-channel last-click view in Adobe Analytics. The challenge with last touch attribution is this does not produce a true picture. All credit for the conversion is given to the last ad that customers clicked. But was it really that ad? This provides a blinkered view of what is the best channel or combination of channels to produce results. It fails to provide a reporting ‘source of truth’ at a global level. 

The strategy

55’s proposed solution was data-driven attribution (DDA). Based on the mathematical principles of ‘game theory’, DDA enables marketers to give credit for conversions based on how people engage with your various ads and decide to become your customers. 55 has a tried and tested 3 step attribution programme that we have run with many clients that we applied to our approach with Pandora:

• Step 1: Evaluate – Define the most suitable tech to meet the clients needs
• Step 2: Implement – Implement the tech using a best in class approach to enable for accurate attribution reporting & insight generation
• Step 3: Run – Use 55’s activation framework to make cross channel budget shifts to maximise ROI

The campaign

1. Evaluate

55 evaluated in-depth Pandora’s organizational structure – using the US as a test bed – with a focus on budget allocation processes, as well as the existing ad-tech and reporting framework. 55 then evaluated the short-term and long-term needs of the business and the attribution solutions that would best suit these.

After thorough analysis we recommended the implementation of Campaign Manager’s data-driven attribution model, as it is a tool already existing within Pandora’s global tech stack. This would require low effort for implementation. Furthermore, it is one of the few solutions that are able to easily account for display impressions, whilst including 200 conversion journey touchpoints.

2. Implement

Using the US as a pilot market, we designed & implemented the best approach for attribution in Campaign Manager. This enabled us to introduce a new blueprint for attribution including:

• Implementing tracking for all digital channels in Campaign Manager
• Configure attribution modelling for Pandora’s specific media segmentation
• Provide SQL script to rebuild bespoke channel grouping in bigquery for automated reporting in data studio
• Build a QA dashboard that ensures that data is correctly aggregated into media channels for attribution reporting in Campaign Manager

With the bespoke approach tried & tested, we are now rolling out the solution to a number of key markets. 

The results

1. As a result of 55’s work, Pandora now has access to Campaign Manager’s multi-touch attribution (MTA) results at a granular level to power insights & subsequent full-funnel media optimisation.
2. Pandora Global now has a global dashboard for markets to easily report on MTA & Adobe LC results, finally achieving a single source of truth and moving away from LC reporting. 

The next steps

For Pandora, the next stage will be to activate attribution insights for cross channel budgeting to improve holistic data-driven return on ad spend ( ROAS) for which 55 has a tried and tested methodology for. We are excited to see the results for this forward-thinking jeweller.