Why mea­sure­ment mat­ters

Google’s se­nior di­rec­tor of prod­uct man­age­ment, Babak Pahla­van, dis­cusses mea­sur­ing dig­i­tal work

Whitsunday Times - - LIFE / BUSINESS -

WHEN we talk to mar­keters about their chal­lenges and needs in dig­i­tal, mea­sure­ment al­ways finds its way to the cen­tre of the con­ver­sa­tion. We’ve heard from ad­ver­tis­ers large and small that mea­sure­ment on dig­i­tal can be dif­fi­cult and of­ten com­plex. But it’s also crit­i­cal to ad­dress, be­cause ef­fec­tive mea­sure­ment is fun­da­men­tal to growth. That might sound a bit lofty, but it’s true. Bet­ter mea­sure­ment helps busi­nesses un­cover the best ways to in­vest their lim­ited mar­ket­ing re­sources. Which leads to bet­ter mar­ket­ing, which leads to new cus­tomers and con­tin­ued growth. But how do you de­fine bet­ter mea­sure­ment? We’ve in­vested a lot of time lis­ten­ing to our ad­ver­tis­ers and in­dus­try part­ners, and we’ve con­sis­tently heard that, to be ef­fec­tive, mea­sure­ment so­lu­tions must be: Trust­wor­thy: They must be trans­par­ent and eas­ily ver­i­fied by ad­ver­tis­ers, pub­lish­ers, and third par­ties, in­clud­ing tech­nol­ogy providers and in­dus­try stan­dards groups. In­tel­li­gent: They must un­cover the in­sights that re­ally mat­ter to a busi­ness – which of­ten means us­ing the lat­est ad­vance­ments in ar­eas like ma­chine learn­ing and going way be­yond sim­ple re­port­ing. Ac­tion­able: They must be easy to act on, so ad­ver­tis­ers can quickly fine-tune or change their strat­egy, turn­ing met­rics and in­sights into real busi­ness im­pact. For­ward-look­ing mar­keters recog­nise the im­por­tance of de­liv­er­ing on these re­quire­ments. As dig­i­tal mar­ket­ing has evolved and grown, we’ve worked with a va­ri­ety of part­ners to de­liver mea­sure­ment so­lu­tions that meet these ex­pec­ta­tions. To­day’s chal­lenges make it even more im­por­tant that we find so­lu­tions to­gether.

Trust as the foun­da­tion

While it’s crit­i­cal for mea­sure­ment so­lu­tions to be in­tel­li­gent and ac­tion­able, trust is the foun­da­tion. If you are re­ly­ing on mea­sure­ment tools to make busi­ness de­ci­sions, you have to trust what they are telling you. “Mar­keters need to be able to trust that the met­rics they’re see­ing are real,” says Price­line VP of mar­ket­ing an­a­lyt­ics Toby Korner. “If there are in­con­sis­ten­cies with our data and how it is an­a­lysed, our de­ci­sions will be in­ef­fi­cient at best, and cer­tainly will fall short of un­leash­ing the full po­ten­tial of our busi­ness.”

Look­ing to­wards the fu­ture

We think the fu­ture of mea­sure­ment will be de­fined by three key trends: Mea­sur­ing cross-ev­ery­thing: Mar­keters must be able to mea­sure cross-chan­nel, cross-plat­form, cross-de­vice, and even­tu­ally cross-me­dia. This will give mar­keters an even more com­plete and ac­cu­rate pic­ture of how peo­ple re­ally shop and buy. Prov­ing busi­ness im­pact: Mar­keters will in­creas­ingly fo­cus on met­rics that show a di­rect im­pact on busi­ness out­comes. As tech­nol­ogy con­tin­ues to ad­vance, mar­keters will gain ac­cess to new mea­sure­ment so­lu­tions that help them see the im­pact of their mar­ket­ing on out­comes like rev­enue and profit. Re­ly­ing on ma­chine learn­ing: Fi­nally, mar­keters will rely more and more on ma­chine learn­ing and au­to­ma­tion to help them man­age the ex­plo­sion of data sig­nals avail­able to mea­sure. Ma­chine learn­ing will be re­quired to help ra­tio­nalise all the data avail­able and iden­tify the spe­cific, ac­tion­able in­sights they can ap­ply to their mar­ket­ing to drive growth. Mea­sure­ment may be one of the most im­por­tant and com­plex chal­lenges ad­ver­tis­ers face but it’s also a big op­por­tu­nity. With trust and trans­parency as the foun­da­tion, we are ready to part­ner across the in­dus­try to help ad­ver­tis­ers con­tinue to ad­vance their mea­sure­ment strate­gies and grow their busi­ness.

PHOTO: ISTOCK

SHOW ME: Dig­i­tal mar­ket­ing com­pa­nies such as ARM Dig­i­tal Mar­ket­ing So­lu­tions of­fer clients im­proved mea­sur­a­bil­ity so they can see where the re­sults are.

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