Micro-targeting across the customer journey impacts research and analysis
Discussion
Photo: RetailWire
Feb 23, 2018
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?
Please practice The RetailWire Golden Rule when submitting your comments.
Braintrust
"We are all digital marketers now so it is imperative that the analytics keep pace."
Ben BallSenior Vice President, Dechert-Hampe (retired)
Ben BallSenior Vice President, Dechert-Hampe (retired)
"...these groups need to align better with LOB leaders to develop, activate and measure analytics that impact the company’s CX."
Gib BassettDirector, Solutions Marketing with Alteryx
Gib BassettDirector, Solutions Marketing with Alteryx
"One of the biggest challenges for retailers today is the lack of personalized data across all layers of the customer journey."
Braintrust
"We are all digital marketers now so it is imperative that the analytics keep pace."
Ben BallSenior Vice President, Dechert-Hampe (retired)
Ben BallSenior Vice President, Dechert-Hampe (retired)
"...these groups need to align better with LOB leaders to develop, activate and measure analytics that impact the company’s CX."
Gib BassettDirector, Solutions Marketing with Alteryx
Gib BassettDirector, Solutions Marketing with Alteryx
"One of the biggest challenges for retailers today is the lack of personalized data across all layers of the customer journey."
Take Our Instant Poll
Loading ...
Join the Discussion!
10 Comments on "Micro-targeting across the customer journey impacts research and analysis"
You must be logged in to post a comment.
You must be logged in to post a comment.
Director, Retail Market Insights, Aptos
I already consider targeted journey marketing to be table stakes for long-term success in retail. Personal and relevant messages are mandatory if we hope to break through all the noise and earn the attention of our target customers. I think one point not mentioned is also critical: the ability to connect the dots between digital and physical interactions. Oftentimes retailers struggle when shoppers take digital actions that lead to physical interactions, and I believe we need to close that loophole in order to achieve truly holistic journey targeting.
Retail Solutions Executive, Teradata
President, Integrated Marketing Solutions
As Joel Rubinson so aptly points out, MMM does not have the customer in the equation at all. In order to be able to deliver the right message at the right time retailers need customer-centric data. Retailers’ processes and mass media were product-centric and setup for reaching the masses. Today, the individual customer is in charge of their own experience. Customers are literally their own point of sale. If you can’t see “ME” make choices anytime and everywhere, your messages may not even reach me or will have little impact. You can’t manage or change what you can’t measure. One of the biggest challenges for retailers today is the lack of personalized data across all layers of the customer journey.
Senior Vice President, Dechert-Hampe (retired)
We are all digital marketers now so it is imperative that the analytics keep pace. The integration of all the different messaging received as consumers progress through the need states journey is tough enough. But the gold is in being able to sense when a shopper shifts modes to a buyer so the right message can be delivered at the right time. This is compounded by the fact that a “shopper” might be looking at any of a number of devices (mobile, desktop, even TV, print or radio) when they make that transition. Of course some of these lead to flexible message delivery better than others and that is what makes digital so powerful.
Global Retail & CPG Sales Strategist, IBM
Always remember, “The consumer IS the channel.” The necessary capabilities to tangibly measure the individual shopper at virtually every step of the shopping journey exists today. Right now. And I see innovators of all sizes leveraging marketing analytics with real-time personalization and several other functionalities. I actually like the idea of applying Net Promoter Scores (NPS) more to get real feedback from individual shoppers and take actions proactively from there.
Founder | CEO, Female Brain Ai & Prefeye - Preference Science Technologies Inc.
Targeting individual human customers based on “Objectivity” and data science-based marketing systems is missing the point. These new system ideas miss the same element of the current systems they seek to replace.
The randomness of individual human selection [preference]. Which can not be found in clicks and taps.
In other words, research and analytic teams process and interpret data based on linear based, data science systems developed to process disparate pieces of data, none of which address the phenomenon of individual human “subjectivity” — also known as individual preference, the unconscious emotional and sensory preferences compelling an individual human to make the decision to purchase a product.
Director, Solutions Marketing with Alteryx
CEO, Boltive
This reminds us WHERE a shopper is trumps WHO a shopper is.
Knowing past purchases can tell us where a consumer is in the buying cycle. But such data is hard to tap if you’re not a very large retailer tracking purchases.
Following a consumer across devices is an imperative. But it is difficult as consumers find more ways to anonymize themselves.
Content can help us discern where people are on the path to purchase. When a shopper visits your website or app, are price, product details and photos specific enough? Are ratings, reviews and FAQs plentiful? Are delivery options (if pertinent) clear? Is the same information accessible from ads too?
Location along the customer journey has higher usefulness than demographics. But marketers and data providers need to innovate together to surface path to purchase data. Unless and until someone creates a universal shopper ID, targeting with content is a most effective option.
CEO & Co-Founder, Metric Digital
Awesome excerpts Joel. Wanted to add my $0.02. So, targeting is perhaps the greatest advantage of digital advertising for retailers. Especially for prospecting. Retail companies can analyze a site, brand, products, and fans, then build additional targeting groups with various levels of granularity. Now, there are a few keys to doing so. First, pick targeting layers wisely. We recommend items like: competitors, similar brands, affinities, geo, interest, age, gender, device, etc. And then, you layer these variables on top of lookalikes for additional granularity. Launch ads that communicate directly with the niche being served.