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How to Build a Data-Driven Marketing Stack in the Real World
This document provides an overview and agenda for a presentation on building a data-driven marketing stack. The presentation will include an introduction to MightyHive as a programmatic solutions partner, an explanation of what a marketing stack is and its relationship to data-driven marketing, and a deep dive into data-driven advertising. It will also feature a section on building an example data-driven marketing stack, covering components like campaign management, unified tracking, analytics, reporting, attribution, and optimization. The document outlines many key considerations for each component and how they work together to enable a complete data-driven approach.
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How to Build a Data-Driven Marketing Stack in the Real World
- 1. HOW TO BUILD ADATA-DRIVEN MARKETING STACK (IN THE REAL WORLD)
- 2. 1. Introduction 2. Data-DrivenMarketing Stacks | Myles Younger 3. Data-Driven Advertising Deep Dive | Ben Rudolph 4. Q + A AGENDA
- 3. INTRODUCTION WHAT IS MIGHTYHIVE,WHO ARE THESE GUYS, AND WHY SHOULD ANYONE CARE?
- 4. Myles Younger, Directorof Marketing at MightyHive. Adtech, B2B, startup person. Previous to MightyHive: ● Co-founder Canned Banners (dynamic ads) ● Thomson Reuters (financial) ● StarMine (equity analytics) ● Embarcadero Technologies (DB tools) @Myles_Younger I’M THE GUY TALKING RIGHT NOW
- 5. MightyHive works withend brands and ad & media agencies as a Programmatic Solutions Partner. The space that MightyHive occupies is fairly new in the digital marketing world, so let’s unpack what “Programmatic Solutions Partner” means... WHAT DOES MIGHTYHIVE DO?
- 6. WHAT DOES “PROGRAMMATIC”MEAN? “Programmatic advertising” is advertising that is executed by machines on your behalf. Programmatic is NOT ARTIFICIAL INTELLIGENCE. It requires people to provide INSTRUCTIONS. Those instructions cannot be executed without DATA.
- 7. WHAT IF PROGRAMMATICDIDN’T EXIST?
- 8. WHAT IF PROGRAMMATICDIDN’T EXIST? BULLSHIT!
- 9. BETTER IDEA: BUYADS WITH SOFTWARE
- 10. BETTER IDEA: BUYADS WITH SOFTWARE FREQUENCY CAPS CONSOLIDATED REPORTS
- 11. FREQUENCY CAPS CONSOLIDATED REPORTS BETTERIDEA: BUY ADS WITH SOFTWARE DATA DATA DATA DATA
- 12. REVISITING WHAT MIGHTYHIVEDOES Provide guidance on programmatic advertising. ● Consulting and strategy ● Select the right data-driven ad technologies ● Efficiency and technology audits Help manage their programmatic campaigns. ● Campaign setup & optimization ● Creative services ● Analytics services Get organizations ready for programmatic. ● Technology setup and training ● In-housing ● Integrate key systems and data As a Programmatic Solutions Partner, MightyHive works with with brands and agencies to:
- 13. WHAT IS A MARKETINGSTACK?
- 14. The terms marketingstack and ad stack get thrown around a lot. Let’s quickly define what “stack” means and what the relationship between stacks and data-driven marketing is. WHAT IS A “STACK?”
- 15.
- 16. SEARCH ENGINE OPTIMIZATIONSTACK WEBSITE DATA
- 17. DISPLAY ADVERTISING STACK WEBSITE DOUBLECLICK BID MANAGER (adbuying) DOUBLECLICK CAMPAIGN MANAGER (serving, tracking) Google Analytics 360 Suite DOUBLECLICK BID MANAGER (ad buying) DATA
- 18. STACK = CONDUITFOR DATA DATA Why does this matter? If you’re going to be a data-driven marketer, chances are your data will be traveling through marketing stacks of various kinds.
- 19. STACK = CONDUITFOR CUSTOMERS CUSTOMERS But let’s not forget that data is just a means to an end. Your marketing stack is also a conduit for your customers.
- 20.
- 21. EVERYONE HAS COMPLETE& TOTAL CLARITY INTO THEIR CUSTOMER JOURNEY EXCEPT YOU. Pictured: The Voynich Manuscript. History’s crowning achievement in impenetrable nonsense.
- 22. WHAT IS A“CUSTOMER?” In data-driven marketing, the definition of a “customer” can be flexible. Use definitions of “customer” that you can actually measure and that roll up to statistically significant measurements. Online Travel 7 Days Person Audience ID, Email Vertical Length “Customer” Identified by... Consumer Electronics 30 Days Person / Household Audience ID, Address, Point of sale Automotive 90 Days Household / ZIP Address, CRM B2B Software 180 Days Account Domain, IP address, CRM
- 23. WHAT’S THE “R”IN YOUR ROI? ROI can be measured in many different ways, and fitting your measurement to your business is critical. OBJECTIVE DRIVER Land grab Incrementality Transactional Average Order Value (AOV) Customer Lifetime Value (CLV) Discount model Leads / sign-ups Lead velocity, conversion rates
- 24.
- 25. DATA-DRIVEN MARKETING STACK CAMPAIGNMANAGEMENT UNIFIED TRACKING SITE-SIDE ANALYTICS REPORTING ATTRIBUTION & OPTIMIZATION
- 26. CAMPAIGN MANAGEMENT +UNIFIED TRACKING CAMPAIGN MANAGEMENT SITE-SIDE ANALYTICS REPORTING ATTRIBUTION & OPTIMIZATION UNIFIED TRACKING
- 27. ● Ad serving/ hosting ○ Display ○ Video ● Tracking ○ Impressions ■ Ads ■ Emails (opens) ○ Clicks ■ Ads ■ Emails ■ Any marketing link, really ○ Conversions ○ Other events ● Viewability CAMPAIGN MANAGEMENT, AD SERVING, UNIFIED TRACKING, VIEWABILITY VIEWABILITY + MORE
- 28. KEY TAKEAWAYS ● Bucketing- Group and tag your campaigns in ways that will be meaningful later on. ● Naming convention - Pick one and stick with it! Banish violators. ORGANIZING CAMPAIGNS
- 29. Abstraction translates thestructure and contents of your marketing and advertising (channels, campaigns, audiences, budgets, messaging, etc) into a clear and manageable taxonomy. Abstraction allows you to change the parts of your digital marketing that need to change, while leaving the rest alone. This avoids the need to rebuild entire campaigns due to small changes. CAMPAIGN ABSTRACTION
- 30. KEY TAKEAWAYS ● Singlesource of truth - Apples-to-apples all the time. Just lots and lots of apples. ● Unified reporting - “Rolling up monthly reports is why I got into Marketing!” SAID NO ONE EVER. ● Touchpoints? Track ‘em! ○ Impressions / views / opens ○ Clicks ○ Conversions UNIFIED TRACKING
- 31. SITE-SIDE ANALYTICS CAMPAIGN MANAGEMENT REPORTING ATTRIBUTION& OPTIMIZATION UNIFIED TRACKING SITE-SIDE ANALYTICS
- 32. SITE-SIDE ANALYTICS KEY FEATURES ●Visitor stats ● Audience segmentation ● Custom data ● CRM integration ● A/B testing ● Integration with rest of your stack? (this is not an exhaustive list)
- 33. REPORTING CAMPAIGN MANAGEMENT UNIFIED TRACKING SITE-SIDEANALYTICS REPORTING ATTRIBUTION & OPTIMIZATION
- 34. REPORTING KEY CONSIDERATIONS ● Source?- Agency? Marketing software UI? Spreadsheet? Dashboard platform? ● Consumption - What kind of report will you actually read? Are you reporting on real business drivers?
- 35. SO...MUCH...CHARTING SOFTWARE A keyadvantage of a standalone reporting solution is that it aggregates your activity and performance data into one place. Otherwise you’re just looking at silos with no option for a holistic view. At the end of the day, “report” or “dashboard” can mean many things. The right solution will be different for every marketing organization. These are just a few of the many apps that will let you browse, filter, pivot, and visualize data.
- 36. ATTRIBUTION & OPTIMIZATION REPORTING ATTRIBUTION& OPTIMIZATION CAMPAIGN MANAGEMENT UNIFIED TRACKING SITE-SIDE ANALYTICS
- 37.
- 38. ATTRIBUTION & OPTIMIZATION ●Attribution is the whole point of all of this. ● What happened? - How do I know which marketing channels contributed to the results I’m seeing? ● Attribute. Optimize. Repeat. - Without properly attributing past performance and results, you can’t begin making future improvements.
- 39. ATTRIBUTION & OPTIMIZATIONPLATFORMS There’s more than one way to skin a cat.
- 40. HOW DOES ATTRIBUTIONMODELING WORK? The ideal attribution model has omniscient knowledge of all marketing touchpoints and discerns how much each touchpoint contributed to an outcome (e.g., a purchase).
- 41. TYPES OF ATTRIBUTIONMODELS There are many different approaches to assigning credit (i.e., weight) to marketing touchpoints in a way that accurately reflects the contributions of various touchpoints and channels. EVEN-WEIGHTED TIME-DECAY LAST-TOUCH
- 42. ADVANCED (DATA-DRIVEN) ATTRIBUTION Insteadof using arbitrary fixed models, advanced attribution solutions will use approaches such as regression modeling and game theory to isolate the relationship between cause and effect. NERDY THING! The Shapley Value and Cooperative Game Theory. https://en.wikipedia.org/wiki/Shapley_value
- 43. MULTI-TOUCH + CROSS-DEVICE Attributionworks much better when you can resolve a Customer (however you define one) across marketing channels and devices.
- 44. ADVANCED (DATA-DRIVEN) ATTRIBUTION Asyou can imagine, a truly accurate attribution model would be different for every company, and any given company’s attribution model would even change over time. COMPANY A COMPANY B COMPANY C
- 45. OPTIMIZATION Once you understandthe relative contributions of your marketing activities, you can begin deploying your marketing budget more effectively. ● Spend more in channels that are undervalued ● Spend less in overvalued channels ● Understand where your dollars may be overlapping (i.e., wasted) EM AIL PAID SEARCH VIDEO SOCIAL DISPLAY $ $ $ $
- 46. DATA-DRIVEN MARKETING: SOLVED! CAMPAIGNMANAGEMENT UNIFIED TRACKING SITE-SIDE ANALYTICS REPORTING ATTRIBUTION & OPTIMIZATION
- 47. AND NOW ONTO BEN... (WHO DOES MORE THAN JUST TALK ABOUT THIS FOR A LIVING)
- 48. Ben Rudolph, AccountManager at MightyHive Previous to MightyHive: ● Omlet Arcade (Livestreaming) ● Rockmelt (Content & Publishers) ● General Assembly (Data Analytics Class) linkedin.com/in/benrudolph1 SECOND GUY TALKING
- 49. THE MARKETING FUNNEL WEBSITE Upper(Broad) Mid Low
- 50. Cost Per Pageview:$0.16 Cost Per New User: $2.80 Cost Per Acquisition: $26 KPIs Data obfuscated
- 51. CLIENT SETUP DOUBLECLICK CAMPAIGN MANAGER (serving, tracking) DOUBLECLICK BIDMANAGER WEBSITE Google Analytics 360 Reporting Attribution
- 52.
- 53. SOME DAY TODAY OPTIMIZATIONS Day parting Viewability adjustment Site performance exclusion Creative/Promotion heavy up Private Deals Lookalike Audiences
- 54. FRACTIONAL ATTRIBUTION 40% First Touch 40% MiddleTouch 20% Last Touch
- 55.
- 56. THANK YOU! Ask questionsand say hi afterward. WE’RE HIRING! Get in touch: ● mightyhive.com ● questions@mightyhive.com
- 57. APPENDIX ALL THE STUFFWE DIDN’T HAVE TIME FOR
- 58. MEASURING THE EPHEMERAL Butwhat about measuring things that aren’t discretely trackable in units? “Awareness” and “engagement” are two characteristically foggy areas. There are ways to quantify this: ● Search lift - understand if customers are searching for your products/services more than usual. ● Site-side search - what are customers searching for on your website? ● Viewability, completion rates - did eyeballs have an opportunity to see your ad? ● Control groups - detect marketing impact by measuring its absence. ● Foot traffic - how is physical location traffic impacted by marketing?
- 59. A NOTE ONLOGGED-IN AUDIENCES Facebook has just as clear a picture of what I was clicking on 5 years ago as it does for yesterday. Why? Because I am logged in to their platform. OK, yes. So what? Logged-in audiences can yield a virtually unbeatable level of clarity into the customer journey.