September 12, 2019 - By Ginna Hall, Senior Content Marketing Manager, Nielsen
New technology has transformed many industries permanently, perhaps none so much as marketing. Digital innovation has created a new set of challenges and opportunities for marketers as we integrate advanced capabilities into traditional strategies and tactics.
To truly understand the value of each consumer interaction with your brand, it’s not enough to count impressions, eyeballs or measure the effectiveness of your digital marketing using the consumer’s last interaction with your brand (i.e., last-touch metrics).
You need to know the effectiveness of each marketing touchpoint in every consumer journey regardless of where those touchpoints occur.
Marketers are in new territory. Competition for customers’ attention has never been so relentless, or so complicated. Consumers now interact with your brand across a dizzying number of channels, touchpoints and devices. The average person today has four to six connected devices and switches constantly from one to the other.
You need to supply an increasingly distracted audience with stories that are engaging and relevant. And set your brand apart by making every interaction a meaningful experience. It’s harder than ever to know whether your ads and other marketing tactics are reaching the right audience—or making an impact.
Longer customer journeys that have more touchpoints cause data fragmentation. The average marketer doesn’t have the ability to consolidate data to understand the influence of touchpoints across digital and traditional channels. Analyzing marketing effectiveness is arduous as marketers struggle to get accurate and actionable results.
At the same time, an industry-wide focus on enhancing consumer privacy and data security has raised the bar for trust and transparency. New regulations and technology changes make collecting, tracking, measuring and other data-related practices more challenging.
We asked 14 industry experts two questions to help marketers navigate this daunting environment:
Here are 14 takeaways for the measurement strategies and tactics marketers need to be successful in 2019 and beyond. Use these answers as a resource to understand marketing effectiveness challenges and guide your strategy so your brand can thrive.
1. Test and iterate to improve performance, use a performance metric that you can track continuously, and use deterministic data to enrich audience segments and improve ROI.
- Matt Krepsik, Global Head, Analytics Product Leadership, Nielsen
2. To grow and inspire customer loyalty, invest in the marketing and data infrastructure to optimize each touchpoint so that it is additive to the customer experience.
- Sasha Bartashnik, Marketing Analytics Manager, Zulily
3. Work with a partner who has relationships with global platforms to ensure coverage.
- Ben Samuel, Vice President, EMEA, Nielsen
4. Don’t try to do everything in-house. Rely on partners to pull data together accurately and help you understand the connection points between one data set and another.
- Lana Busignani, EVP, U.S. Analytics, Nielsen
5. Unify four processes—reporting, partnership, analysis, and strategy—to analyze omnichannel effectiveness successfully.
- Jamie Schissler, VP of Data & Insights, Hero Digital
6. Use a person-based measurement strategy to ensure that you understand the link between a person and their devices.
- Andrea Lipstein, SVP, Product Marketing, Nielsen
7. Invest in software that can unite channel data and make it easier to measure how well you monetize and retain customers.
- Jon Dick, VP of Marketing, HubSpot
8. Use a granular measurement approach for more precision and actionability across all the touchpoints along the journey.
- Joshua Kowal, SVP, Consulting Services, Nielsen
9. Start product and marketing research with questions that prioritize the needs of shoppers rather than the needs of the brand.
- Rebecca Brooks, Founder and CEO, Alter Agents
10. Partner with multiple best-of-breed providers to organize your data and don’t let uncertainty keep you from continuously improving.
- Andy Dubickas, VP, Global Solutions Consulting, Nielsen
11. Don’t collect more data, collect better data that helps you predict future customer behavior or optimize current customers’ experience with the brand.
- Jeremy Korst, President, GBH Insights
12. Invest in attribution software to understand the consumer journey, accurately measure the impact of your marketing and media, and optimize your strategies for the future.
- Moira Freeman, Manager, Product Marketing, Nielsen
13. Upskill in the use of artificial intelligence (AI) and automation to scale lead generation and customer experience management.
- Yaniv Masjedi, CMO, Nextiva
14. Shift away from traditional response marketing techniques into the radical pursuit of educating and serving people you’re trying to reach.
- Jonathan Musgrave. Owner and Chief Digital Marketer, Steep Digital Marketing
The past twenty years have seen an unbelievable period of technological innovation that has disrupted the way we live, work and play.
Instead of a one-way funnel from brand to consumer, the era of the conversation has begun. An increasing array of channels, devices and platforms have splintered mass communication into thousands of niche outlets, each catering to a specific audience.
Today, we have access to more information, consumers are making smarter buying decisions, and marketers have amassed greater quantities of data than ever before. Yet some marketers have failed to keep up. They rely on traditional approaches and old school thinking that simply don’t meet the demands of the era.
It’s not enough to fall back on what worked twenty, ten or even five years ago. If you don’t keep up, you’ll get left behind.
To learn more from our experts, download your copy of 14 Industry Experts on the Future of Attribution