In this episode, Ashley Royalty, GM of Add3SHOP, chats with Ryan McClurkin from JTV to dive into the intricacies of marketing measurement, discussing its tiers, challenges, and the importance of first-party data in driving success.
Overview of Marketing Measurement Tiers:
- Ryan explains the four tiers of marketing measurement: Tier 1 (Basic Analytics), Tier 2 (CDP Lite Solutions), Tier 3 (First-Party Data Stitching), and Tier 4 (Advertiser Data Feeds).
- Each tier offers increasing sophistication in tracking and attributing marketing efforts.
Importance of First-Party Data:
- The significance of first-party data and identity stitching in understanding the full customer journey.
- The role of predictive LTV (Lifetime Value) and machine learning in optimizing marketing strategies.
Challenges with Third-Party Cookie Deprecation:
- Impending challenges posed by third-party cookie deprecation and its impact on advertising effectiveness.
- Strategies for navigating this landscape, including the emphasis on first-party data aggregation.
Success Stories and Best Practices:
- Real-world success stories of companies leveraging advanced marketing measurement techniques to drive growth.
- The importance of proper cost allocation, LTV integration, and incremental attribution in achieving marketing success.
Recommended Tools and Solutions:
- Emerging solutions like Insida, a startup focused on comprehensive marketing measurement.
- The importance of platform-agnostic tools that cater to various e-commerce platforms.
