No matter how many times an advertiser hears that they must run on mobile to reach their audiences, if they can’t measure the output of their investment, it’s a lost cause. In fact, many advertisers are refusing to invest another dime in mobile until the industry finds a common ground to solve for mobile measurement at scale to help quantify real mobile ROI.
The gap between advertiser spend and user time spent
More than 62 percent of user time online is spent on mobile. But a big part of that time seems unable to be monetized; the gap between advertising investment and user behavior still represents a $7 billion opportunity according to Mary Meeker’s latest Internet Trends report. Advertisers don’t have the right tools to quantify mobile impact and justify investment due to several issues:
- Accuracy vs scale: the cross-device solution conundrum
As we started discussing last year, with user identity being fragmented between cookies and device IDs, it is hard for advertisers to have a holistic view of customers and execute on a real omnichannel strategy. It is still a real challenge to offer both accuracy and scale. Only 14 percent of marketers can track cross-channel and act on data, according to a report by L2inc.
- Higher walls in a fragmented identity ecosystem
The online identity ecosystem is highly dependent on Apple and Google, with US mobile browser share of voice a split between 51 percent Safari and 42 percent Chrome, and app browsers split 45 percent iOS and 53 percent Android. These challenges come by way of limited tracking ability to understand how users are engaging in these environments and other channels.
Further, Apple’s Limit Ad Tracking (iOS 10), Intelligent Tracking Prevention (iOS 11) and SDK app networks and now the ITP update for social and fingerprinting (ios 12) are adding additional restrictions that advertisers need to navigate through to measure the impact of their advertising spend.
- Attribution models
Thirty-four percent of B2B marketers have no attribution model, and it’s easy to see why. Attribution models and technology are complex. Numerous internal “organizational roadblocks” can make it very hard to convince senior executives of the long-term gains of attribution over the short-term high costs.
Mobile is a key point on your users’ road to conversion, but it is not necessarily the last signpost they hit. You need a multi-touch attribution model to account for all touchpoints before a user converts. Multi-touch attribution is a more ideal model than last-touch because it enables you to better understand true marketing impact. By letting you see exactly what led a customer to convert at all points—both online and off—on the path to purchase, you can immediately act upon what’s working and what’s not and give appropriate credit to advertising partners.
There are steps you can take to shift your business’s mindset on attribution and justify the ROI against the investment in cost, time and expertise. Read our attribution playbook for specific tactics on how to get there.
If measurement is a market challenge, then the ad tech industry is poised to develop new tools that provide the solution. MediaMath is leading the charge by prioritizing the following areas:
- Enriched identity
We believe that for advertisers to identify their best customers at scale, they need a neutral, shared device namespace that enables global reach and proprietary value-add. We believe DigiTrust represents this opportunity, which is why we joined their consortium late last quarter.
This neutral, standardized device ID will improve consumer experience by supporting privacy, reducing page load time, increasing the relevance of marketing messages and enabling the diverse ecosystem of publishers and online platforms on which they rely. We also have our own proprietary cross-device and cookieless identity solution, ConnectedID, for which we have long been sourcing deterministic signal directly from advertisers, and will start working with our industry partners to further activate.
- Cross-device analytics reporting
It is crucial for advertisers to be armed with knowledge related to cross-device multitouch measurement and understand the impact of mobile on their omnichannel outcomes. Demonstrating mobile performance for your campaigns has often been a challenge in digital marketing. MediaMath has been developing several new reports to provide marketers with concrete data and help them with their investment decisions. As trusted advisors for our clients, we wanted this data approach to be consultative and incorporate our analytics service to benefit our clients—we know you still need a human touch.