Micro-targeting across the customer journey impacts research and analysis
Through a special arrangement, presented here for discussion is an excerpt from a current article from the Joel Rubinson on Marketing Research blog.
With the shift toward people-based and away from channel-based marketing in the digital age, research and analytics teams need to plan around four underlying trends:
- The rise of journey-based marketing: As a consumer moves through different need states along their journey — from user to shopper to buyer and back to user — their receptivity to different types of messages will change. Fueled by customer databases, unified IDs in advertising DMPs, and intender segments offered by the digital ecosystem, this is now something marketers can act on, delivering the right content and message across screens and across time to an individual consumer. But to really pull this off, we need to bridge marketing silos and bring together advertising, website content, e-mail and social, and use the consumer as our new organizing principle.
- The blending of retail and marketing: With the data to sense if someone is active or dormant, to follow IDs persistently through time and across devices, and to establish ad networks to reach them, retailers are becoming publishers and ad networks. Using digital data and surveys for measurement of short term and brand equity effects, researchers need to understand the effectiveness of advertising on retail websites.
- The rise of user level analytics: Marketing/media mix (MMM) regression models, marketers’ main way of determining what marketing expenditures are working, literally do not have the consumer in the equation, so ultimately they fall short. You need user level data and analytics. Using current data (not historical) and tapping many more variables, multi-touch attribution (MTA) promises a level of granularity that MMM cannot offer. MTA can reveal hidden gems, such as discovering that programmatically targeting the right consumers generates more impact than publishers who charge much higher CPMs (cost per impressions).
- The battle between performance and brand marketing intensifies: Many brand marketers have diverted their funds to accomplish short term results, undermining efforts to boost the long term health of the brand. Yet the counter-argument is that it is possible that performance marketing can build brands as any purchase or customer acquisition leads to a series of brand experiences. Integrate tracker data, digital signals, customer data and social media into a brand KPI system.
DISCUSSION QUESTIONS: How does being able to target consumers at different parts of the shopper journey change the game for marketing research and analytics teams? What hurdles do you see around being able to deliver the right message at the right time?