In 2021, privacy will continue to be a key focus area for marketers as the digital marketing industry adapts to evolving consumer expectations. Not only are increased privacy measures important for protecting people, but they’ll also improve the long-term health of the industry.
Improving consumer privacy will require adopting new approaches to marketing measurement, which can be a challenge to keep up with as your attention shifts toward meeting your KPIs. But staying on top of the latest advancements in measurement solutions can help you better understand marketing effectiveness and may even help you meet your KPIs over the course of the year.
Here are the five pillars of a holistic marketing measurement plan that I hope will set you up for success in 2021.
1. Leverage the power of first-party data
Direct customer interactions with your business can tell you a lot about your customers’ needs and, as a result, help you make insights-driven business decisions on the road to digital marketing transformation.
For example, when you look at previous purchase history, are there products that loyal customers only tend to buy during certain times of year? Purchasing patterns can help you identify the right time to promote the right products. First-party data can also signal customers who are at risk of churning, which may prompt you to kick-start reengagement strategies.
Ask yourself: Is there a type of first-party data that I’ve never analyzed? How might analyzing that data…