Attribution Revolution: The Mobile Series in Los Angeles

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Last week, Magnetic hosted our Attribution Revolution: The Mobile Series at LA’s Mr. C Beverly Hills. Our panel of industry experts discussed the mobile challenges currently facing advertisers, best practices and how the industry can help to solve for cross-device attribution. The panel included:

Moderator:
James Green, CEO, Magnetic

Panelists:
Dwight Crow, Product Manager for Direct Response Advertising, Facebook
Ed Haslam, SVP of Marketing, PlaceIQ
Nick Jordan, SVP of Product, Tapad
Paul Pellman, Head of Adometry, Google

To kick off the conversation, James Green asked panelists why mobile is important and beneficial for marketers. Paul Pellman reminded the audience that most people have a mobile phone in their pocket, and are now using that phone to interact online. “As a marketer, it’s an incredibly powerful vehicle if used appropriately, to really reach customers,” said Pellman.

For Ed Haslam of PlaceIQ, mobile is all about the data. “Mobile is emitting a constant stream of data that helps us to understand consumers.” According to Haslam, by analyzing behavior on mobile when consumers are in the ‘real world,’ marketers can start to see consumers as real people, thus allowing marketers to cultivate a much more intimate relationship.

Green then probed panelists about the difference between having a cross-device strategy and a mobile strategy. All panelists seemed to be in agreement that mobile is most effective when part of a larger strategy, and not a standalone element. “You have to think about it as part of a greater, integrated campaign,” said Haslam. To expand on this point, Jordan reminded the audience, “You’re not just marketing to devices anymore, you’re marketing to people.” And while the individual message may be different across devices, all messages need to work together to ultimately drive a consumer action.

Facebook’s Dwight Crow approached the question differently, defending the strategy of “mobile-only”. “If you’re doing brand advertising, and you have a good offline measurement system…you can do just mobile.” That being said, Crow made sure to note that if you want to implement a brand-evolving narrative tailored to an individual, you need a cross-device strategy. DR advertisers also need to be aware that consumers often start their path to purchase on one device, and end it on another. Without a cross-device strategy, marketers will miss a large number of conversions.

Panelists went on to discuss further issues and challenges, including in-app vs. mobile web targeting, how mobile has changed attribution, and the future of mobile. Watch the full panel video to learn more!

Check out the full panel video and event pictures below:

 

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The Holiday Advantage: Maturation Of Mobile Real-Time Bidding

by Soo Jin Oh SVP, Data Business and Ad Operations, Magnetic   Featured on Marketing Land, November 6, 2014   The holiday season is a time when the symbiotic relationship between consumers and retailers is at its peak. Not only are … Continue reading

The Components Of A Well-Oiled Retargeting Machine

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by James Green
CEO, Magnetic

 

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Featured on Marketing Land, November 3, 2014

 

Marketers are constantly looking for ways to reach and engage new and existing consumers, so it’s no surprise that retargeting strategies have grown rapidly over the past few years.

An August 2014 study by Marin Software noted that 88% of US marketers polled use retargeting, and the majority (56%) of respondents which hadn’t implemented retargeting yet were planning to start executing it within 12 months.

Combining different forms of retargeting strategies allows marketers to reach, influence and convert customers through multiple touch points.

Data Is A Key Player

First, take a step back and consider all of the different forms of retargeting strategies that are available – email, site, social and search – and understand how they work together to reach prospects and push them through the funnel. The common denominator across all retargeting strategies is data.

While data differs by retargeting strategy, it provides varying degrees of what a consumer might be interested in, and this can all be used to “remarket” a particular user or audience.

Reach The Middle Of The Funnel

The beauty of retargeting is that it’s not limited to the bottom funnel. In fact, while marketing messages are important at every stage of the consumer funnel, many marketers overlook the middle and focus more heavily on the top and bottom stages.

The middle is where the consideration phase is and where your ability to influence a customer is the most critical.

Retarget On Social Platforms

The Marin Software study also found that social retargeting is on rise, with 67.1% of respondents saying they will increase their social retargeting budgets over the next year.

Facebook and Twitter both allow marketers to target audiences using their social networks – environments that are most often effective within the consideration phase.

Retargeting Reaches New Customers

Most consumers start all search activity within engines like Google or Bing. They search for something and leave the search engine to explore the product or service they are looking for on other sites. From there, they may take a break from their online exploration altogether, and spend their time on social, news or content sites.

At this stage, marketers can gain access to strong intent signals from new customers, derived from their search keywords and/or on-site behaviors during their online journey.

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The Downside Of Siloed Retargeting Efforts

Taking a siloed approach to retargeting will only create less effective marketing programs.

First, and most importantly, you will not be able to assign proper credit for conversions across the different retargeting strategies. As a result, you will have an inaccurate view of which retargeting strategy effectively influenced your marketing efforts, which impacts business decisions.

Second, data becomes less effective when it is used as a stand-alone mechanism. The beauty of all this data lies within the ability to better understand your customer, both in terms of their journey from start to finish and how valuable they are to your business. Some customers are more likely to convert and engage than others, but you need multiple touch points to make those kinds of discoveries.

In the end, this will help marketers make smarter bids across real-time buying platforms because you can distinguish the value of a given user. Additionally, advertisers will receive a more complete picture of what their customers are actually interested in by tying their retargeting efforts together.

A bundled approach creates an efficient retargeting machine that constantly reaches new prospects, nurtures them through the funnel and ultimately, leads them to purchase.

Marketers must consider the audience they want to reach and plan campaigns that pull multiple levers in order to get in front of their customers. The world of online and digital marketing is highly competitive, but using these strategies in unison is sure to give you an advantage.

Magnetic’s Retail Therapy – October 30, 2014

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1. Target Aims To Attract With Free Shipping

Target plans to challenge their competitors and win over consumers with free shipping this holiday season.

“The free shipping “raises pressure on Target’s rivals to match the offer, increasingly a requirement for shoppers to make purchases online,” observes Paul Ziobro in the Wall Street Journal. “A study by advisory firm Deloitte found that up to 60% of online shoppers abandon their shopping carts due to unexpected costs, including shipping.” View the full article on MarketingLand

 

2. In Our Digital World, The Shopping Never Stops

What are you doing from 10:00pm – 4:00am? New data from Google shows that one third of you are online shopping.

 “Shoppers are also spending more time consulting more sources before making a decision. In 2010, shoppers used an average of five sources of information before purchasing, but that has more than doubled, with shoppers consulting at least 12 sources last year. This means that October through November has become a crucial period for retailers to reach shoppers online, being present with offers, information, how-tos and content.” Learn more from Google

 

3. E-Commerce Shopping At a Record High

With 56% of consumers shopping online, marketers must incorporate digital.

“That 56 percent figure is up from 51.5 percent last year, and also represents a record high for the 13 years that the NRF has been doing this survey. Another record: The NRF says the average shopper will do 44.4 percent of his/her shopping online this holiday season.” View the full article on MarketingLand

 

4. It’s Not Just a Shopping Frenzy…

Magnetic CEO, James Green, offers some tips on how to approach the bidding frenzy this holiday season.

“What tends to happen during a high volume-shopping period like Black Friday and Cyber Monday is, the number of advertisers bidding on audiences increases significantly, which drives up the bid price. As bid prices go up, so does the cost per acquisition, making it much more costly to acquire a customer.”  Real the full article on MediaPost