The new era of Digital Marketing Measurement

I attended the IAB SA Brand Council Round Table Session today where the conversation was around the complexity of measurement for brands. We all agreed that media measurement is only one piece of the puzzle and there are other many different moving parts in which to put this puzzle together.

How has this become such a daunting task? Well, for the last decade or so, marketers have been placing their bets on media measurements and this seem to be working for all. But along came technology and more technology and then the complexities of data – big data, smart data and all sorts of data. Brands were under pressure to grow the business so instead of viewing marketing as an expenditure line item, they needed to deliver on ROAS. Which spells accountability and transparency for all concerned. This is where the wheels come off simply because marketers need to shift from the art into the science of marketing.

A proper measurement plan starts with a strategy, a framework and a visual map of the value chain. This needs to be supported with proper business goals – what outcomes are you looking for? How will you achieve this?  A measurement framework has to be owned by the brand itself not its partners.

A few things to consider:

1.    A measurement framework beyond media measurement should consider channel and business measurement. The 3 fundamental layers of measurement. Are you tagging and tracking for all three? Do you have the analytical tools that can connect the different data points? Can you measure end to end? Have you identified macro and micro conversion points? Have you allocated a value to each touchpoint?

2.    A visual map is a design of the customer journey and how you will guide the consumer along their journey. This will in turn guide the media and creative agencies on making their jobs easier.

3.    Develop a scorecard or measurement tracker which you can build upon as you refine your measurement plan.

4.    Democratize Data – data visualization is a powerful way to get stakeholders onboard and with more hands on deck, the quicker you are able to reach your destination. There are some great tools which are available which can plug into multiple tech stacks.

5.    Data analytics is non-negotiable – whether you using Adobe Analytics or Google Analytics, start using something. GA4 promises to deliver on more advanced measurement attributes so definitely something to consider.

6.    Technology is your friend in measurement – ensuring you invest in the right tech stack can propel your efforts. Consider both Adtech and Martech.

7.    Data governance – part of your measurement efforts should be to adopt and apply a rigorous data privacy environment as data is the new currency.

8.    I mention the deprecation of 3rd party cookies as this is a high priority for the industry at large. Consider this as part of your measurement strategy as you should be thinking of building out your first party data strategy.

9.    Continuously optimize your media and creative so you operate in a test and learn environment. Experimentation is key to success seeing that no one can sell you the winning formula.

Measurement is fluid and requires more deliberate thought and effort. Marketers seem to be looking for a quick resolution and unfortunately there is none at the moment. The wheel is spinning and you need to jump on and get going. Measurement is a business imperative and needs to start from a place of strategy in order for it to work! In summary there's lots going on and we need to be aware of the implications and get a glimpse of the future.