“Data-driven thinking” It is written by members of the media community and contains new ideas on the digital revolution in media.
Today’s column is written by Matt Zeiger, Vice President of Technology, Faded.
Last year, while working at a different marketing agency, I was sitting in front of a team of paid social media buyers, talking about the strategies they are using to grow their accounts. I asked him, “So how are you finding and connecting with your target customers?” And I expected a variety of different responses based on the particular brand or account they were working on.
“We use knockoffs on Facebook,” one replied succinctly, and everyone else nodded in sync.
“Fine, but what else?” Asked. “What happens when we are not reaching our goals and copycats are not working?”
Everyone responded both in silence and in confusion. It was then that I realized how bad things had gotten.
Marketers haven’t really needed to understand how data has been used to drive successful marketing campaigns. Instead, they have relied on the expertise of big tech players providing “free” products in exchange for customer data.
I do not mean to criticize this mentality, but I do want to address the grant of experience that it invites. Many media experts have been trained in specific tools and technologies, not so much the fundamentals or why things work the way they do.
Clearly, we are entering a new chapter in digital marketing. Large numbers of users choose not to opt out of tracking on iOS devices (up to 94% based on data from Flurry Analytics). What we will see is a return to basics. Businesses with a direct connection, access, and exchange of value with consumers will be able to drive success. In other words, those with their own data will have a great advantage.
I started in marketing in 2003 and I have overcome all the changes and evolution of the different ecosystems. We used to have to do extensive research on our target market, conduct interviews, field surveys, and test different media buys with different messages in different locations to find what worked.
But in recent years, we’ve relied on data collected by Big Tech to automate all of this. Now we could just launch any creativity in the world, even targeting a wide audience or a wide set of keywords, and with all the signals we send to Big Tech on our own channels, voilà, we could sell products and achieve results with little understanding. . who was buying things from and why.
Now it is considered something new to configure different messages and advertising messages depending on where the consumer is in their purchasing stage. With so much automation in visualization and social media, marketers have been able to drive success without a basic strategy for connecting with their audiences.
And think about the hardware and software devices you use. Android phone? Samsung TV? Macbook? Google Chrome? Products that are your gateway to other products and services will become increasingly relevant as consumers become more and more willing to provide information to use the product. Those companies that have a direct connection to the customer will continue to collect relevant consumer data.
With value trading, we have to go back to some “old school” methods of driving opt-in, or what people are calling today a new buzzword: “zero party” data. Last weekend, I went to several retail stores and they all asked for my email or phone number at checkout. While I’m sure I could have objected, when asked if they could sign me up for an email with a 10% discount, I gladly agreed. After all, I can always opt out later, and who doesn’t want to save money by paying?
But what I’m talking about is more than email address capture. The wealth of data that exists on Big Tech platforms is the combination of all the signals, events, and transactions that occur together. Marketers need to think more about value exchange and multi-time consumer cohorts and be more moment-aware in their opted data-driven marketing messages.
While the name is new, zero-match data is actually a classic strategy, dating back to the 1960s, when consumer information was gladly provided for contests, magazines, or other direct mailings.
While many marketers can, and should, regret the loss of accurate follow-up, they should also seize the opportunity to research and understand their customers.
A world without cookies is ushering in a new era of digital advertising. Marketers have the opportunity to build a strategic foundation on a clear understanding of their customers, their unique product cycles, and their high-value touch points, rather than having these insights hidden by Big Tech. By doing so, the specialists in marketing they will create a stronger, more resilient, and more effective foundation for connecting with increasingly tech-savvy consumers.