Building a successful marketing measurement plan requires a strategic approach that involves setting objectives, selecting KPIs, establishing a baseline, setting targets, selecting the right tools and metrics, analyzing data, and making data-driven decisions to optimize your campaign.
Here are five ways that you can build a successful measurement foundation in a privacy-safe way.
- Grow Your First-Party Data
As first-party data is owned by you, and you alone, it offers great insights into your audience. This means that it offers many benefits which include, Personalization and integration, targeting the right customers, accuracy, and control, strengthening customer relationships, and transparency.
Ensure your data can be linked and shared across the company and that you have the necessary talent to analyze and use the relevant data in a way that focuses on and enhances customer experience and delivers on ROI. Read ‘Building For The Future Of Marketing to learn more.
- Upgrade Your Analytics Technology
It’s important to stay on top of analytics and as you may already know, Starting on July 1st, 2023, Universal Analytics properties will no longer process data and you will need to upgrade to Google Analytics 4. Here are 4 things to do before Universal Analytics retires.
- Enrich your data with valuable metrics for your business
While all conversions are valuable, not all have the same value to your business. According to Google, advertisers that optimize for value rather than cost see an average 14% increase in conversion values.
- Enhance your measurement with offline insights
When setting up your measurement infrastructure, take time to confirm that it can support both online and offline marketing goals. A solid infrastructure should bridge customer touchpoints across all channels, eliminating gaps in measurement.
- Protect privacy while driving performance
Establishing and maintaining trust with your users is crucial and requires proactive investment as privacy regulations continue to evolve. Respecting user privacy should be at the forefront of strategy, it is still possible to include measurement tools with respect to privacy. Consent Mode is one solution specifically designed to help achieve this balance.
As privacy becomes an even stronger foundational standard, marketers need to seek out solutions that will scale for the long term. Thankfully, privacy and accurate measurement no longer need to be at odds. With the right tools and planning, businesses can move ahead to enhance their marketing capabilities while maintaining the same great experience for users.