Measurable marketing outcomes- what does the future hold?

    Measurable marketing outcomes- what does the future hold

    As third-party cookies are now disappearing, marketing professionals are confused about the metrics that will be used to measure marketing outcomes.

    The removal of third-party cookies provided the digital advertising industry a chance to restructure digital marketing to enable core industry use cases and balance consumer privacy. Enterprises have   come together to build the improved future by targeting capabilities, digital identity, and metrics based on compliance to existing principles.

    Protection of data privacy and transparency received significant support when industries shifted to the “cookie-less” future. The only drawback was that they were presented with too many unknowns. CMOs are left to figure out how to measure impact of marketing strategies effectively, find new opportunities and audiences, develop roadmaps for programmatic, etc.

    Marketers say that effectiveness measurement techniques won’t be affected by cookie death; other factors require drastic adjustments. CMOs believe that few measures will help future proof the marketing measurements used by them.

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    Make a shift towards people-based marketing: CMOs prefer that organizations move away from cookie-based metrics and targeting the partnerships that use people-based metrics and planning.

    Adopting non-cookie dependent techniques: Organizations can utilize modeled data in place of non-cookie dependent techniques. Advanced analytics can be used to model campaign impact still. It uses different datasets like sales, media spend, delivery data, sales, etc., to provide a clear understanding of ROI. CMOs believe that certain media consumption queries can still be deployed for modeling exposure probability wherever passive exposure tracing is not available. In certain situations, this might be the most appropriate way to isolate campaign impact. Adopting new experimental methods like split market geo testing create custom approaches with goal-focused passive exposure tracking panels. CMOs also promote using server-side API to share offline and key Web events and customer actions directly from servers to other stakeholders. Such features allow data facilitation on lower-funnel events being associated with platforms and possibly blended to evaluate interactions.

    Predicting the expected impact: Marketing leaders say that companies need to understand what volume of media spend is impacted by cookie expiry. They should explore and work towards cookie less solutions recommended by the organizations and their tech partners.

    Analyzing universal identifiers’ development: CMOs point out that universal identifiers boost measurement and targeting of omnichannel measures. It provides marketers with ROA spend from publishing partners regardless of the marketing channel- in-app, CTV, or Web.

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    Develop a plan to evolve the measurement framework: It is crucial that enterprises regularly test and validate metric strategies and adopt an aggregated and adaptive approach. Customers capable of harnessing multiple measurement techniques across different aggregation levels have a higher competitive advantage. It is also essential that CMOs reevaluate the performance goal, business success, and digital ad effectiveness to adapt it to their comprehensive measurement plan.

    Marketing leaders acknowledge that despite no cookies, one single measurement factor cannot accurately capture all conversion, brand, media exposure, and sales data. This gives actionable insights to organizations on an everyday basis. A blended approach is necessary to ensure the success of all marketing strategies.