Global brands are getting more particular about data. They are now looking to performance data from their global digital campaigns to answer questions and provide insights into how creative, media and overall messaging affect consumer behavior.
But we’ve also noticed that in Latin America, much of the rich data available to these brands is not captured by their agency partners – wasting an opportunity to drive performance, efficiency and knowledge from their digital media.
It’s not a new problem – North America, Europe and Asia used to operate the same way - but the stakes are higher now, and data has become the industry currency, informing the majority of business decisions. If data is not reliable and consistent across regions, its value is limited.
Here are five questions to ask your client to be sure you’re on the same page when it comes to their digital data:
1. Are you okay with publishers self-reporting their performance numbers? Is fraud a concern?
One of the benefits of serving your ads with an IAB- and MRC-accredited ad server is that your data is consistent and trustworthy. When you use tracking pixels, there are many ways publishers can intentionally or unintentionally skew performance data. When you’re using a... Read more
Data won't tell you everything you need. In fact, sometimes it tells you the wrong thing."We are data rich and insight poor," said Adam Kmiec, Director, Global Digital Marketing & Social Media, The Campbell Soup Co., during the morning keynote at the iMedia in:Focus Summit on What Women Want From Brands. "Data misses things. Insights come from signals, not data, and insights inform decisions. The key is what you do with those signals."
He urged marketers and agencies to look beyond big data and study insights and emerging trends, and then apply those to the data. For instance, don't assume a tweet is equivalent to an actionable data point. However, many tweets when filtered and structured, can potentially be a powerful signal about consumer behavior. Signals indicate what consumers are really doing with products and how they are buying. "An insight is something you need to think about and then make a decision about what to do about it," he said.