Marketing Strategy: Is your measurement plan ready for 2022?

In most of the current discussions about Digital Marketing, privacy is the most highly concerned topic. Marketers are extremely worried about how they can maintain marketing performance while still protecting user privacy. However, maintaining performance isn’t enough; they are actively seeking opportunities to enhance marketing efforts even further while setting high standards for privacy. A measurement plan is necessary to track and timely adapt to potential changes.

Earlier this year, Think with Google provided recommendations for what marketers should include in their 2022 measurement plans. This is a valuable resource to have when planning your annual measurement priorities.

Issue 1: How to prepare a measurement plan to maintain marketing performance while safeguarding user privacy?

To achieve this goal, we offer suggestions for you to prepare your measurement plan for 2022. Some of the key advice requires repeated action. Some new advice involves offering opt-in-based Marketing solutions. We hope that the proposals below will help you improve your marketing strategy and understand that privacy and accurate measurement do not have to contradict each other.

Collect First-Party Data

Our research has shown that companies utilizing their first-party data (data collected directly from subjects) can generate 1.5 times increased revenue with the same ad placement, communication, or engagement. These businesses can also double the cost efficiency improvements compared to those with limited data sources.

Issue 2: First-party data is becoming a priority source for user-based marketing strategies

A successful business in this practice is Deckers Brands. As a global leader in footwear, apparel, and accessories, Deckers Brands achieved remarkable growth over a decade. When growth began to slow, they realized it was due to a lack of customer connection.

Michelle Hernandez, the company’s Marketing Director, stated: “You can’t become a customer-centric brand unless you invest in a first-party data strategy.”

To prepare their measurement plan, Deckers Brands collected first-party data from all sources to understand how they could interact with customers throughout their entire purchasing journey. For example, when many countries globally saw the rise of at-home ordering services in 2020, Deckers Brands noticed a trend toward customers buying indoor-use footwear due to remote work. Once such trends are identified, the entire company can be alerted and influenced, from advertising investment to supply chain management.

Invest in Tagging Operations for Measurement Plan Preparation

To utilize and act on this first-party data, you first need to build a sustainable foundation. Digital marketing continuously evolves with new technologies, global regulations, and changes in customer behavior. Hence, ensuring your measurement tools are future-proof is crucial. Investing in a tagging system is a straightforward way to ensure your measurement plan accurately captures campaign performance for the future.

Ensure that your company is equipped with tools to collect first-party data whenever direct interactions with consumers occur. For instance, Google’s “Global Site Tag” and “Tag Manager” offer robust and secure data collection solutions and management solutions. Tagging allows you to measure everything: when customers make purchases on your website, how much time they spend on your website, providing a clear understanding of their purchasing journey. Tags are also easily integrated and support all Google measurement and analytics products, resulting in higher effectiveness for a campaign’s success.

Issue 3: Build a sustainable foundation to effectively use first-party data

Respect User Consent

Establishing and maintaining trust with your users is crucial and requires a strong investment as privacy regulations continue to evolve. To ensure the methods in your measurement plan in the future, you need to rely on first-party data directly collected from customer interactions.

Issue 4: Marketers must adapt to new methods to have an effective measurement plan for campaigns, when cookies can’t be relied on

Choose suitable platforms that help you collect and manage user consent preferences. Respecting user choices will build trust and positively impact business operations. Abhishek Jadon, PepsiCo’s Senior Director of Global Consumer Data, stated: “It’s incumbent upon us to build trust and transparency to foster relationships with customers and ensure loyal customers understand the value they receive in sharing their data with us.”

Ensure these platforms integrate with analytics tools, working together to respect user choices. For instance, if users do not consent to cookies, your website can update tag behavior not to use cookies when those users access it.

Utilize Solutions for More Accurate Measurement Plans

To adapt to effective campaign measurement when cookies cannot be relied on, apply privacy-safe solutions to enhance measurement scope. Enhanced conversions help advertisers uncover a more accurate picture of their media performance. With this solution, advertisers can expand their first-party data sourced from user-provided tags. This provides more observed data to inform conversion models, yielding comprehensive reporting and optimization. This solution delivers powerful outcomes for businesses.

Businesses can also make adjustments when users opt out of cookies. TUI, a European vacation service provider, recently launched a new website that allows visitors to set consent preferences for cookie usage. If individuals do not consent, TUI cannot measure conversions in detail. They shifted to customized user behavior; if users don’t consent to cookies, your website can update tag behavior not to use cookies when those users access it. As such, TUI can understand which marketing campaign is most effective in driving conversions.

Preparing for the Future of Digital Marketing

As privacy becomes a strong standard, marketers need to seek long-term solutions. Privacy and accurate measurement no longer have to be at odds. With proper tools and plans, businesses can proactively prepare measurement plans to enhance their marketing capabilities while maintaining an excellent user experience.

Source: https://www.thinkwithgoogle.com/intl/en-apac/marketing-strategies/data-and-measurement/marketing-performance-and-measurement-plan/

Metta Marketing
Leading Brand Strategy Consultant

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