Metrics that matter: connect the dots to produce world class marketing strategies
There are more mobile data analytics and measurement solutions available to marketers today than ever before. And yet, finding a way to match up these disparate data points into a coherent marketing strategy is quite the challenge. With so many technologies available, the options are endless. Which technologies should marketers invest in? Which metrics really matter? The answer to these questions begin with data.
First, marketers must gain a better understanding of data generated via the platform that reveals the most about who their consumers are - mobile.
Mobile isn’t like any other media platform. Mobile is personal. The personalization of mobile and the proliferation of smartphones has resulted in a tremendous amount of data. But not all data is useful. In fact, bad data can be extremely detrimental to your business, costing U.S companies over $3tn a year, with $611bn of that being wasted on marketing spend. So how do you prevent this waste?
By ensuring you only access quality data that reveals the entire mobile user journey. Follow the below ‘do’s’ and ‘don’ts’ to harness quality data which will connect the dots and produce world class marketing strategies.
1. Focus on real-time, high quality first-party user journey data across both mobile, app and web. This will provide you with access to the entire mobile user journey to truly know the user.
2. Ensure you only collect data that understands and identifies individual humans and doesn’t rely on broad segments. You do not know what goes into those segments. This will eliminate wasted marketing spend and streamline your targeting strategy.
3. Only collect and leverage data that is 100% GDPR compliant. With the demand for transparency, this will ensure you are complying with industry-standard regulation and are respecting the consumer first.
1. Don’t collect or use data that a user hasn’t explicitly consented to share.There is already increasing mistrust from consumers over the ways in which their personal data is used. Only collecting consented data will result in a better and more respectful user experience.
2. Don’t solely leverage your CRM data, as it is incomplete. Brands only see within their own ecosystem so it is important to leverage partners who can access the entire user journey, and better understand what happens when users are not on your website or app.
3. Don’t solely partner with companies that provide self-reported data or rely on a third party tech stack or the bid stream for data collection. Make sure you understand the entire user’s journey. Apps and websites that do not serve ads are very telling of a consumers mindset. Understanding these signals as well will ultimately provide you with more data and a more valuable and personalized experience to your consumer.
As our expectations and awareness about the quality of data rise, it is becoming more and more apparent that too many marketing technologies are powered by artificial intelligence that is just that, ‘artificial’. These technologies are simply leveraging bad and incomplete data drawn from disjointed fragments of user behavior that don’t reveal the entire user journey.
So which technologies should you invest in? Do your research on the data provided by your technology partners and only invest if they are 100% GDPR compliant and have explicit user consent to leverage their data. And what are the metrics that really matter? If you want to deliver valuable, contextual recommendations to your consumers you need to be able to see the entire mobile user journey. This will enable you to measure a user’s mobile behavior to ensure increased engagement with your content and decreased wasted ad spend as you’ll only be reaching the most active, accurate and actionable audiences.
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