This week, Facebook announced for the second time in recent months, that their methods of measurement for several KPIs of interest to advertisers were inaccurate. In response, they are re-organizing to provide more transparency for marketers. But this raises a few critical questions for brands:
In AdExchanger this week, Gartner Group’s Martin Kihn outlines the struggles of current marketing attribution platforms to accurately and effectively measure today’s complex marketing ecosystem. Read article here. In the article, he cites an in-depth research effort conducted by staff at Google and Microsoft that comes to the conclusion that click or tracking-based marketing attribution platforms simply cannot accurately measure marketing.
As the number of advertising channels continues to grow roadblocks arise for marketers when trying to measure their cross-channel marketing efforts. Because of this marketers are continuously struggling to understand the complete value of their ads and cross-channel contributions.
Many people in the technology, product management and marketing arenas are familiar with the “Agile Software Development Methodology” and perhaps you’ve even participated directly in this process. If so, you were probably part of a small team aligned to a business owner moving rapidly through “sprints” designed to create new software, mobile apps and digital experiences much more quickly than ever before and with much more fruitful business outcomes. This process works very well and it is no surprise that it is a standard approach used across many successful businesses. The question is: why hasn’t this been applied to marketing measurement?
With today’s multiple choices of channels and devices it’s a rare occurrence that someone is influenced by just one advertisement. As we know consumers today are cross-device and multi-channel – they research on their smartphone while shopping instore, they see an ad on TV and later research more on their tablet, then buy on their desktop. This is the world of modern marketing and why we know last-click attribution is no longer the answer to accurate marketing measurement.
Social media has become an instrumental channel for marketers and for many good reasons – it helps build awareness, allows brands to connect directly with consumers, increases engagement and much more. But even with social media’s popularity some marketers still aren’t using it for its full potential, and this might be especially true for Snapchat.
Still traveling on the rocky road known as mobile marketing measurement? It appears the majority of marketers are – a recent eMarketer report found that only 18 % of marketers say they feel very confident measuring their mobile efforts. For marketers in the news and information industry there may be even less confidence.
Last week we heard the big news that Twitter launched a new advertising network known as the “Twitter Audience Platform” which offers additional ad options to marketers and increased reach beyond the Twitter platform itself.