We recently had the opportunity to join LiveRamp’s RampUp Virtual Summit and spend a few powerful hours listening and sharing insights and real life applications around LiveRamp’s people-based measurement. As a marketer, I experience firsthand how challenging it can be to effectively manage today’s complex ecosystem of channels and technologies. Identifying, mapping, and measuring consumer behaviors is a must for marketers seeking to connect with target consumers and, in return, prove ROI on our marketing investments. However, connecting the dots has become more and more challenging. As Martech leaders took the RampUp! virtual stage, all conversations revolved around these critical questions, and these suggested paths on how to get to the best answers:
How can I bridge the gap between online and offline consumer behavior? The customer journey is not always as linear as seeing an ad and then buying online or in store. The ability to map the consumer journey is critical for today’s marketers in order to create a well rounded marketing strategy that reaches the right consumers with meaningful messaging, impacting their path to purchase. With so many different types of communication, it’s critical for marketers to understand how their brand initiatives are performing and which channels are delivering the best results.
The how-to: Thanks to technology advances in recent years, such as high quality, vast scale mobile location data, customer journeys can now be more intricately tracked. Location data supports the customer journey by crafting the true map of how a consumer finds their way to a brand, a store, and a purchase. Beyond attribution of a digital media impression to a website, location data extends customer journey insight to the car, the errands being run, the mall, and into the store.
Did I lose my target customer along the path to purchase? And if so, when and where? As marketers face the touchpoint fragmentation along the consumer journey, it is not only important to understand what worked and what didn’t, but also what went wrong, in order to avoid repeating the mistake over and over.
The how-to: Leveraging the right data combination and applying incremental testing can help marketers solve for this challenge, arriving to a measurement solution that not only maps and measures the customer journey, but also dissects touch points that might make or break a purchase. Incremental measurement aims at adding more color around the steps that lead to a purchase, testing outcomes to understand causality, revealing potentially costly blind spots, and pointing to more efficient allocations of marketing dollars.
How can I make sure my social media advertising investment is paying off? Social media budgets have been dramatically increasing over the past few years, however measuring its effectiveness and ROI can be challenging, hindering marketers’ ability to justify the spend.
The how-to: Marketing intelligence tools that are able to measure social media effectiveness and connect the dots with other touch points and channels the advertiser uses to connect and engage with its target consumers can be a true game changer for marketers to validate social budgets and complete the picture of the role that social media plays within the larger marketing ecosystem.
Hungry for more? Check out all the recordings from RampUp’s Virtual Summit here.