Big Data Killed the Click-Through
Eric Stein, EVP of online solutions, Epsilon
A recent IBM study found that 82% of CMOs surveyed feel underprepared for the “data explosion.” While Big Data can be intimidating, the opportunities it offers can exponentially improve marketing efforts across channels.
When we talk about Big Data, we're generally referring to the utilization of all relevant and available data to drive a particular marketing program.
Traditionally, marketers have gauged the success of online display campaigns by measuring only clicks or impressions. By incorporating Big Data capabilities into reporting, marketers can elevate the conversation and their understanding of the full impact of their campaigns.
This requires blending off- and online data.
The most comprehensive and reliable data at a marketer's disposal is CRM data, third-party data, and models that are tied to a postal address. But, historically, many marketers have not leveraged these assets to inform and drive online campaigns. Today, blending this tried-and-true offline data with the abundance of online data available is a key factor in executing relevant, engaging marketing campaigns.
Marketers' next step is to take their Big Data capabilities and integrate them into marketing reporting. Adobe found that only 54% of marketers surveyed feel well equipped to deal with marketing measurement. Infusing data into marketing metrics allows brands to measure the impact of their efforts and unveil the profile of the audience that viewed a campaign. Such reporting will provide brands with a more accurate picture of:
- Profiles of consumers who see their ads, visit their site, and convert online
- Measurement of omnichannel purchases that result from an online campaign, including in-store, catalog, and call center
- Attribution of conversions only from consumers who actually saw a banner ad from the campaign
Gone are the days when marketers asked, “How many consumers did we reach?” Today we can enable them to better understand who was reached. By leveraging internal, CRM data, and third-party data, marketers can better understand their audience and drive dramatic results.
Putting the right data behind marketing metrics, whatever they may be, can provide insight into campaigns' performance like never before. Consider the new metrics outlined below:
Use the power of Big Data to enable deeper insight into how online advertising is impacting your entire funnel.
By integrating the power of Big Data into online reporting, brands can incorporate new metrics and glean a new appreciation for how their marketing dollars are working. We hope you'll join us in saying goodbye to the click-through rate, and hello to a new level of online insight.Eric Stein is EVP of online solutions at Epsilon