Why measurement matters
Google’s senior director of product management, Babak Pahlavan, discusses measuring digital work
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.
SHOW ME: Digital marketing companies such as ARM Digital Marketing Solutions offer clients improved measurability so they can see where the results are.