5 Important Insights for Digital Marketers in 2016
As a digital marketer or a professional supporting the digital marketing ecosystem in Southeast Asia, here’s my take on the 5 most important insights you’ll need for a super-successful year 2016.
1. Recognise the value of your own data combined with second-party data
Third-party data is available now in Southeast Asia, but any potential competitive advantage is diluted by the fact that your competition has access to the same data you have. You could argue that smarter campaign strategies and execution make a difference, but sharing data among both publishers and advertisers will open up a host of opportunities. Exclusive access to data allows for monetisation of the data, but strategic partnerships can now also lead to tactical data sharing that can lead to even greater campaign efficiencies.
And this does not have to be data shared across data management platforms (DMP’s) in a complex IAB compliant Taxonomy – this could be executed by just enabling simple data sharing capability by applying a single line of code with just URL level data shared. Imagine a Telco (with tons of data) and a bank (with the need for campaign efficiency) agreeing to this, or a Publisher (need for monetizing data) and a FMCG customer agreeing to share data in a privacy/PII-compliant way. This is possible with a DMP and is a reality today. Plus it paves the way not just for desktop-data sharing but also allows you to access deterministically-merged cross device data coming from a reliable partner. This could have a trickle down effect with enormous possibilities.
2. Smarter optimization strategies – Make Your Data Work Harder for You
The idea of building a platform where campaign suppression is universal, in that all messages seen across email, paid and organic channels are managed on that same platform, and sequential messaging followed by campaign suppression can be applied, is the ultimate holy grail sought by all marketers. To find that sweet spot and deliver on campaign efficiencies would make a marketer reach unprecedented campaign efficiencies. But the challenges in getting there are plentiful, from cross device data merge to walled gardens created by Google and Facebook, to non transparent trading desks.
2016 will see marketers planning for this cross device marketplace, where they need to work within the limits of this ecosystem, to use analytics to deliver on campaign optimization, product innovation and delivering the right experience to the right person at the right time. Beyond simple rules and business logic-based testing and targeting, marketers will be able to use analytics data and combine it with offline data, either via their analytics tool or a DMP, to deliver an optimal experience and test it to ensure it’s the winning experience. The idea of a true universal audience which is a segment comprising of the what (what they do on site/app) and the who (who they are in the offline systems) will drive incremental uplift for the brand.
3. Cross device view, attribution and campaign suppression beyond Google and Facebook’s walled gardens
Maybe the biggest change we’ll see in 2016 will be cross device campaign attribution. With Adobe releasing analytics figures showing mobile traffic surpassing desktop and even Google announcing mobile search is now surpassing desktop search, agencies and publishers see the transition but are having a hard time convincing advertisers to switch ad spends to mobile.
This is where true cross device attribution, which results from deterministic or probabilistic match, will go a long way in giving mobile as a channel its due credit, and will be the biggest reason to shop for attribution tech.
4. The smarter merging of digital analytics and data science
The Data-to-Insights-to-Action workflow comprises of the following steps:
- Anomaly detection to highlight deviation in expected value of KPIs eg; lead generation, revenue, bookings, website visits etc
- Contribution analysis that helps tell a story around why that particular anomaly took place. That can be achieved by identifying the factors that correlated leading to that anomaly.
- Segmentation resulting from these correlations can be used for further analysis by building clusters of audiences.
- Using statistical method to score the likelihood of conversion from audiences.
- Activation of those audiences across paid, owned and earned channels.
- The above doesn’t need a data scientist and can be achieved by a marketing technologist with the right tools in hand.
Digital Analytics was traditionally associated with the smart capture of data from websites and mobile apps, so that it could be analysed for business action. But the tools were limited to reports and breakdowns of that captured data, without the allowance for any statistical methods to be applied back to that data.
Quants would have to download that data (but weren’t always sure what the data represented or how it was captured) to draw predictions from it. I have seen an example of this at an airline that used data to predict conversion by the stage of Booking Funnel at which a user reaches. Meaning if Campaign X brought more people to Stage 3 and Campaign Y brought more people to Stage 4, Campaign Y was deemed more effective, because people reaching Stage 4 (further into the Booking Funnel) had a higher probability of converting.
But marketers will demand better attribution, accurate integration of this data for media mix modelling, and the ability to turn the data into action using a repeatable business process that they can understand and easily apply.
5. Data Wars
The Tech that owns the Data will own the Marketing Hub.
This data foundation will deliver on attribution, cross device analytics, analytics-based targeting, cross channel campaign execution, third-party audience extension and programmatic execution, and will be the platform on which to deliver the promise of a single tool and a single cookie /ID for true analysis. 2016 will see the market demand for a single view of customer across all channels, and solutions that deliver on that will lead the pack.
What are your predictions for 2016?