SMBs and enterprise marketers benefit from unprecedented innovation in privacy-centric marketing technology
PORTLAND, OR / ACCESSWIRE / February 8, 2022 / Today, marketing analytics company LeadsRx shared the trends it sees emerging in 2022 that contribute to the unprecedented innovation taking place in performance marketing, marketing attribution and marketing analytics technologies.
Importantly, while the pace of innovation is accelerating, the No. 1 factor in delivering pervasive marketing attribution and analytics success are the people - the data-driven marketers who help ensure data quality and secure consumer privacy. "People + Data = Better" is the equation marketers need to measure against to have mutually beneficial outcomes for their businesses, brands and their customers.
Attribution and Analytics Are No Longer Just Enterprise Solutions
Gone are the days when only global business behemoths with massive marketing teams could benefit from marketing attribution and analytics systems. Small and medium-sized businesses are experiencing the benefits and value that come from having marketing attribution and analytics as a service they count on to deliver return on ad spend (ROAS) and conversion intelligence, which drive increased sales.
LeadsRx sees it firsthand having served thousands of SMBs, customers like The Great American Home Store achieving measurable results for its ecommerce and retail sales in its Tennessee-based retail locations; or Steel City Media building marketing and advertising campaigns that helped clients convert leads to sales for M&R Power Equipment Group near Pittsburgh and Max Motors, an auto dealership operating multiple lots in Kansas and Missouri.
"Multi-touch attribution and customer journey analytics can provide a lot of value to SMBs and enterprises alike by encouraging, informing, and driving increased marketing performance," said AJ Brown, co-founder and CEO of LeadsRx.
CMOs and CIO/CISO Partnering to Achieve Privacy-Centric and Effective Marketing
Consumer privacy needs to be front and center for any data-driven and performance marketing strategy employed by businesses, their agencies and personnel. This hyper focus on data privacy has fueled the evolution taking place in marketing analytics and attribution technologies that marketing and ad industries rely on to reach existing and new customers.
Consumers have driven the new landscape of increased regulation, and governments - and even tech and platform companies - have taken action to protect customer privacy and avoid data breaches, whether nefarious or accidental.
The road is only going to get tougher, and the demands to protect data only more restrictive. The buck stops with the IT department; but it certainly does not mean marketing departments must halt assembling data or that a business will be blocked from using that data to retarget or serve up an excellent experience for existing and new customers.
As a result, IT and marketing departments need to cooperate and collaborate. The CMO's team have access to and analyze lots of data; and the IT team is charged with housing and protecting said data across a multitude of devices, databases, SaaS systems, data clean rooms and systems. Increasingly it's a true partnership that needs to be led mutually by CMOs, CIOs and CISOs to have one goal in mind - delivering superior business results while protecting consumer privacy.
Predictive Marketing Takes Hold
There is a wealth of data that businesses and marketers have at hand to start to use marketing attribution and analytics to apply predictive marketing capabilities. Whether it is data residing in databases, or collected from online forms, inbound calls or via an algorithm that processes data, or other methods, it is insightful information that can be put to good use.
Imagine being able to harness that path-to-purchase data from past customer journeys, as well as capturing how other brands within an industry are faring, to predict the best way to reach existing and new customers. Predictive marketing, based on past analytics and benchmarks, is coming to the forefront. Existing attribution and customer journey analytics data can, and will, fuel increased marketing performance.
Predictive analytics is nothing new. However, it will become a powerful tool marketers can wield to improve performance.
"When it comes to marketing technology the 'A' in Artificial Intelligence marketing tools should really stand for 'Augmented.' People are still part of the equation to look at the data from past marketing efforts and use it to better inform future marketing campaigns," said Brown. "Marketers have more innovative tools available to apply their intelligence to identify and predict what has and is working, or what is or is not working, to improve marketing performance down the road."
Precision Analytics or Micro-Analytics & Micro-Segments - Segment and Target
Marketers can, and should, take data from multi-touch attribution, customer journey analytics, additional demographic and psychographic data, and buying intent attributes - and divide it all up into smaller market or brand segments.
With precision analytics you can evaluate and understand what is driving business to a retail store, hotel or other specific location. How does the buyer of the downtown niche hotel room want to be marketed to versus the outdoorsy type looking for that rustic room closer to nature?
It's easy to see where insights drawn from analytics data can help a franchise with varied venue types and geographies. The messaging and cadence of campaigns that work for middle America likely do not work for a big-city property; or maybe aspects of each do cross over. Marketing analytics data will provide the unbiased insights marketers need.
This micro-analytics approach is less about a business or brand separating itself from the competition; it's more about examining the marketing programs they have done, and are doing, to determine what is working to attract paying customers.
"Precision marketing matters because a brand's desire to build a more meaningful, emotional, and contextual relationship with a consumer is now more aligned than ever with what consumers are demanding for brands to earn their continued business," said Brown. "Ultimately a privacy-focused, data-driven marketing strategy needs to support the business goals and aid in cultivating a trusted relationship with customers."
To learn more about the LeadsRx suite of offerings, from multi-touch attribution, privacy-first customer journey analytics, data clean rooms and the concept of "People + Data = Better" visit LeadsRx.com.
About LeadsRx
Guided by an ethos of impartiality, consumer privacy, and quality first-party data, LeadsRx provides SaaS software and services that has helped marketers at more than 5,000 global and local brands and agencies increase customer acquisition efficiency, grow lifetime value, and identify wasted ad spend. The LeadsRx foundational technology is its unique Universal Pixel that has collected more than 2 billion personas for anonymous individuals - not personal identities, but the characteristics or demographic attributes that make up the type of customer or customers represented by their digital experience across devices, browsers, and apps. To learn more about how LeadsRx can support you in marketing transformation visit LeadsRx.com. Connect with LeadsRx on Twitter, LinkedIn and Facebook.
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For more information
Jeff Fishburn
Fishburn PR for LeadsRx
jeff@fishburnpr.com
SOURCE: LeadsRx
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