Connect with us

MARKETING

Identity and the changing measurement landscape

Published

on

Identity and the changing measurement landscape

Marketing is undergoing a monumental shift as third-party cookies are phased out, and the spicket on mobile data is down to a trickle. For most marketers, this ever-changing privacy and identity landscape is leading to seismic shifts in how marketers look at attribution and measurement.

Fortunately, technology companies are investing heavily in alternate identity solutions to be the backbone of future attribution and measurement platforms. In fact, according to the American Marketers Association, over $2 billion is slated to be invested by a host of players to help solve the impending measurement conundrum as cookies and device data are all but phased out.

Identity and measurement bracing for impact

The real impact won’t be felt until 2023 when Google starts phasing out cookies. But, even now, changes led by Apple across both devices and Safari are putting marketers on their back foot as they scramble to decipher attribution and conduct effective measurement studies.

Success in this new unchartered world of measurement will rely on identity and measurement companies to work together to understand channel mix contribution better and devise new tools and methods to associate and attribute conversion data accurately. This already daunting challenge is poised to get exponentially more difficult as the channel mix expands, and tracking signals look less like a spoke and wheel and more like a spider’s web.

In this new web-like framework without cookies, marketers will depend heavily on identity and measurement companies to map, ingest and correctly assign credit to all the different modes and channels in a marketer’s advertising arsenal. At the core of all this, marketers, identity providers, and measurement teams are huddling to find news ways and new IDs to identify, track and make sense of every channel’s contribution to a marketers internal and external channel media mix.

Read next: What is identity resolution?

Overcoming identity and measurement obstacles

Right now, that aspect is becoming increasingly opaque with severe limitations for deciphering when a particular person has viewed an ad, let alone assigning the correct attribution by channel. As part of that $2 billion dollar industry investment, though, a whole host of long-standing measurement players and new entries are making headway. 

Advertisement

The Prohaska Group, a New York-based digital advertising consultancy, is leading the charge to create a landscape of attribution and measurement companies. Working with Prohaska, the below graphic is a snapshot of a larger measurement landscape The Prohaska Group will be releasing later this quarter. 

While Technology companies like those listed here are peddling fast to come up with alternate solutions for measurement and attribution, it’s important to note that according to a recent IAB research study, only 34% of marketers are currently delving into and testing new measurement strategies. The fatigue over this ever-changing identity and measurement landscape is real.  

What marketers can do now to get ahead of the changes

Simplify models. To start, marketers should steer clear of creating multiple models for assigning credit to outside channels and a separate model to give credit within their organization. For you, the marketer, this translates to conducting a sort of marketing mix audit to ideally identify and stop buying from external channels if fair credit for that placement can be found internally.

This can be a hard sell if your team, like most, is focused on meeting overall KPIs and accurately assigning internal credit as part of the same goal. No one wants to potentially upset the apple cart, even if it’s not working optimally.

Align teams and channels. Further, it’s critical to align all the teams on the definitions of internal versus external channels. For instance, is there a clear and agreed-upon understanding within your divisions to separate video orders on a desktop from video orders viewed on a mobile device? Successful marketers are working hard across silos to get their divisions aligned and aiming to synchronize reporting to capture the most accurate attribution model possible.  

Another way marketers are taking charge of their measurement strategies is increasing the investment in data. This data-driven mindset helps build more accurate attribution and measurement models and utilizes more consumer data and modeling to create a more complete picture of your converting audiences.

Audience profiling. Moreover, a data-rich approach better equips marketers to assess and assign the lifetime value (LTV) of a consumer better.

This deeper dive into audience profiling and enrichment is proving to deliver more actionable insights on which audience profiles makes one conversion type more valuable from a lifetime value perspective.

Bidding. Data helps accomplish this by taking into consideration short-term and long-term LTV and targeting those customers or prospects appropriately. Further, these insights related to LTV can be used to train bidding algorithms that favor internal attribution over external channels yielding a higher overall LTV, and less waste on media spend.  

Advertisement

By adopting a more standardized, holistic attribution and measurement strategy, marketers can land on best practices that will set them up for even more success as the Identity and Measurement companies bring more sophisticated solutions to market. Until then, marketers who get their marketing mix house in order now will have a running start as we all head into the murky measurement waters of 2023.


Get the daily newsletter digital marketers rely on.



Opinions expressed in this article are those of the guest author and not necessarily MarTech. Staff authors are listed here.


Advertisement

About The Author

A leader in the data-driven AdTech space that spans 20 years across both the US and the EU. Ken Zachmann’s worked on the ground floor of a data start-up that yielded an eight-figure exit and served as VP and SVP for two leading digital data firms and saw them through to acquisition in 2017.
In 2018 Ken launched his first consulting firm focused on identity-based solutions and helping companies navigate a cookie-less future. Ken’s background in data and identity resolution, paired with his experience of living and working in both the US and Germany, has afforded him a unique understanding of the complexities of sourcing and building data, identity and measurement solutions.

Source link

Advertisement

MARKETING

6 martech contract gotchas you need to be aware of

Published

on

6 martech contract gotchas you need to be aware of

Having worked at several organizations and dealt with many more vendors, I’ve seen my share of client-vendor relationships and their associated “gotchas.” 

Contracts are complex for a reason. That’s why martech practitioners are wise to lean on lawyers and buyers during the procurement process. They typically notice terms that could undoubtedly catch business stakeholders off guard.

Remember, all relationships end. It is important to look for thorny issues that can wreak havoc on future plans.

I’ve seen and heard of my share of contract gotchas. Here are some generalizations to look out for.

1. Data

So, you have a great data vendor. You use them to buy contacts and information as well as to enrich what data you’ve already got. 

When you decide to churn from the vendor, does your contract allow you to keep and use the data you’ve pulled into your CRM or other systems after the relationship ends? 

You had better check.

Advertisement

2. Funds

There are many reasons why you would want to give funds in advance to a vendor. Perhaps it pays for search ads or allows your representatives to send gifts to prospective and current customers. 

When you change vendors, will they return unused funds? That may not be a big deal for small sums of money. 

Further, while annoying, processing fees aren’t unheard of. But what happens when a lot of cash is left in the system? 

You had better make sure that you can get that back.

3. Service-level agreements (SLAs)

Your business is important, and your projects are a big deal. Yet, that doesn’t necessarily mean that you’ll get a prompt response to a question or action when something wrong happens. 

That’s where SLAs come in. 

It’s how your vendor tells you they will respond to questions and issues. A higher price point typically will get a client a better SLA that requires the vendor to respond and act more quickly — and more of the time to boot (i.e., 24/7 service vs. standard business hours). 

Make sure that an SLA meets your expectations. 

Advertisement

Further, remember that most of the time, you get what you pay for. So, if you want a better SLA, you may have to pay for it.


Get the daily newsletter digital marketers rely on.


4. Poaching

Clients and vendors alike are always looking for quality people to employ. Sometimes they find them on the other side of the client-vendor relationship. 

Are you OK with them poaching one of your team members? 

Advertisement

If not, this should be discussed and put into writing during the contract negotiation phase, a renewal, or at any time if it is that important.

 I have dealt with organizations that are against anti-poaching clauses to the point that a requirement to have one is a dealbreaker. Sometimes senior leadership or board members are adamant about an individual’s freedom to work where they please — even if one of their organization’s employees departs to work for a customer or vendor. 

5. Freebies

It is not unheard of for vendors to offer their customers freebies. Perhaps they offer a smaller line item to help justify a price increase during a renewal. 

Maybe the company is developing a new product and offers it in its nascent/immature/young stage to customers as a deal sweetener or a way to collect feedback and develop champions for it. 

Will that freemium offer carry over during the next renewal? Your account executive or customer success manager may say it will and even spell that out in an email. 

Then, time goes by. People on both sides of the relationship change or forget details. Company policies change. That said, the wording in a contract or master service agreement won’t change. 

Make sure the terms of freebies or other good deals are put into legally sound writing.

Read next: 24 questions to ask ABM vendors before signing the contract

Advertisement

6. Pricing factors

There are many ways vendors can price out their offerings. For instance, a data broker could charge by the contact engaged by a customer. But what exactly does that mean? 

If a customer buys a contact’s information, that makes sense as counting as one contact. 

What happens if the customer, later on, wants to enrich that contact with updated information? Does that count as a second contact credit used? 

Reasonable minds could justify the affirmative and negative to this question. So, evaluating a pricing factor or how it is measured upfront is vital to determine if that makes sense to your organization. 

Don’t let contract gotchas catch you off-guard 

The above are just a few examples of martech contract gotchas martech practitioners encounter. There is no universal way to address them. Each organization will want to address them differently. The key is to watch for them and work with your colleagues to determine what’s best in that specific situation. Just don’t get caught off-guard.


Opinions expressed in this article are those of the guest author and not necessarily MarTech. Staff authors are listed here.


Advertisement

About The Author

Steve Petersen is a marketing technology manager at Zuora. He spent nearly 8.5 years at Western Governors University, holding many martech related roles with the last being marketing technology manager. Prior to WGU, he worked as a strategist at the Washington, DC digital shop The Brick Factory, where he worked closely with trade associations, non-profits, major brands, and advocacy campaigns. Petersen holds a Master of Information Management from the University of Maryland and a Bachelor of Arts in International Relations from Brigham Young University. He’s also a Certified ScrumMaster. Petersen lives in the Salt Lake City, UT area.

Petersen represents his own views, not those of his current or former employers.

Source link

Advertisement
Continue Reading

DON'T MISS ANY IMPORTANT NEWS!
Subscribe To our Newsletter
We promise not to spam you. Unsubscribe at any time.
Invalid email address

Trending

Entireweb
en_USEnglish