Marketing accountability can be a challenging endeavor – and conquest—for organizations. While it can be incredibly exciting for an organization to make the decision to introduce technology platforms to assist in the improvement of marketing accountability, it’s critical to understand the management and measurement implications that will support success.
Even when an organization has processes in place to leverage technologies, refinement and optimization strategies must continually evolve in tandem with marketing goals.
Whether you’re a marketing leader or a boots-on-the-ground pro managing marketing technology daily, here are some key considerations to enhance your marketing accountability:
1. Position your marketing for programmatic success. To employ a necessary cliché, it has to be said that programmatic marketing and advertising is the wave of the future. According to eMarketer, programmatic digital display ad spending is projected to reach $26.78 billion by 2017. That’s up from only $10.32 billion in 2014. This means that marketing professionals and hiring managers should consider programmatic knowledge a core skillset. That requires an organizational commitment to the development of programmatic thought leadership and marketing application.
You don’t want to miss out on the opportunity to monetize core inventory. The entire programmatic category is seeing increased spending across the board due to its predictive yield and ROI for marketers and publishers alike, not to mention easy insertion processes and lower barriers to entry for most advertisers.
2. Develop data “Dos” and “Don’ts” that support meaningful marketing. You need to encourage your customers and the modern marketing community to “Think beyond the transaction.” In other words, consider the treasure trove of data available to you that can be leveraged to create rich, meaningful buyer profiles that help you better target, as well as understand the attributes of your ideal customer. Invest your time and team resources into a strategic blueprint of data “Dos” and “Don’t’s” relevant to your business goals, and consider the benefits of implementing a data management platform (DMP) to support your strategic goals.
Organizations previously focused on their known marketing channels—for example email data stored in a familiar place: CRM systems. But now the focus has shifted to anonymous channels. Offline and online data—or known and unknown—is important.
Presenting valuable and compelling offers hinges on the ability to develop creative and content that aligns with audience browsing habits and patterns. All of this insight needs to be matched with channel insight to ensure relevance and maximize the interaction, and the DMP helps marketers achieve that.
3. Test your tech stack accordingly. To ensure that you’re maximizing your budgets and resources from an investment perspective, consider which tools will help you achieve your goals and position your measurement strategy for success, as well as the technologies that will support your existing technology infrastructure. The DMP can collect rich behavior data and attributes such as website actions, product engagements, or demographic information. From there, it can pass that data into a cross-channel marketing solution to build a more comprehensive, actionable customer profile to inform that holy-grail customer experience previously discussed.
Ready to seize the opportunity to reinvent your marketing function as a core part of your company’s revenue engine? For more insights on how to maximize your data and accountability strategies, Download The Guide to Advertising Accountability.