In an increasingly fractured world, with many users connected on multiple devices, marketers are changing the way they look at data and plan their campaigns accordingly.
Magnetic's CEO James Green, along with other key vendors in the space at the iMedia Commerce Summit, took a look at marketing data in a mobile world and what the changes mean for marketers.
Attribution in a fractured world
Paul Pellman, head of Adometry, Google, noted that giving attribution credit where attribution credit is due isn't easy, with so many devices to account for. "You want to be able to allocate that credit across the media," he said.
Nick Jordan, senior vice president of product and strategy at Tapad, explained that attribution can be tough because there are so many different channels on which marketers can focus. "You start to look at all the fragmentation," he said, "and that's why the attribution has become so difficult."
Duncan McCall, CEO and co-founder at PlaceIQ, said the world is becoming increasingly digital, and you have to really consider your target audience. "Are they digital? Are they not digital? Where do they live?" he asked.
There are exciting things ahead with mobile, though, and the amount of users focused on mobile is growing. Green said that nearly 70 percent of Facebook revenue comes from mobile, for example.
Mobile vs. cross-device audience strategy
According to Jordan, executives don't talk about display. They talk about converting and have more of a customer-centric view of marketing. Media buying today means that every channel has a budget. "You really need to think about the consumer and have fluid budgets and tactics to get the most out of your spending," he noted.
"Our high-level hypothesis is that people are creatures of habit," Jordan explained. His team looks at the proximity of devices to help narrow down which devices have relationships to each other, increasing the ability to identify which devices likely belong to the same user. Consumers often visit the same sites on multiple platforms. "I sort of act as the same person on different devices," Jordan said.
According to Pellman, cross-device data is critical. "You have to have a device graph to understand a user level," he explained. "Google and Facebook have advantage of massive scale. I use Google across all devices, so they have my device graph."
Green noted that marketers can partner with Google or Facebook for that data, but be careful not to limit yourself to that ecosystem.
McCall explained that there's a tremendous amount of opt-in location data, which you can tie into a powerful understanding and a new model of consumer behavior. "Now you have this sort of augmented reality with humanity having all of these devices on them," he said. "If you can understand location, now you can look at the types of people who visited that location." This gives you the opportunity to build a targeted model to specific customers and their lifestyles.
He went on to address the idea of attribution. "How can mobile help as an attribution mechanism?" he asked. As an example, he mentioned that a large retailer came to PlaceIQ. Its team explained that the company still sells 99 percent of items in-store and didn't understand how mobile ad exposure could translate to in-store sales. McCall explained that the company could use mobile devices as a mechanism to understand how many people who saw the retailer's ad actually came into the store.
Lastly, Jordan noted that, in order to see that your campaign is working as planned, "your media buying strategy has to match your measurement strategy." A consumer can have all the conversations in mobile, but then he or she converts somewhere else. Marketers need to know that the time and effort they're putting into targeting is paying off.