On February 27th, LiveRamp hosted RampUp 2014, our annual summit. More than 1000 marketers and industry leaders came together to discuss connected data for intelligent marketing. Through this week, we are posting videos from all of the sessions that took place throughout the day. Today, watch “Measuring Digital Marketing’s Impact on In-Store Sales”, “Mergers and Acquisitions in the Marketing Tech Landscape”, and “Utilizing Data for Customer Acquisition.”
Measuring Digital Marketing’s Impact on In-Store Sales
Gad Alon, VP of Business Development at Adometry, Michael Feldman, Head of New Business Development at Google, Kirthi Kalyanam, J.C. Penney Research Professor and Director, Retail Management Institute at Santa Clara University, and Ben Whitmer, Director of Digital Marketing at StageStores participated in a conversation about marketing measurement moderated by James Arra, VP of Sales at LiveRamp.
- Kirthi states that retailers “For the first time in the last 3 years, they have come to grips with the fact that there may be a fundamental change in how household traffic generated to retail.” In retail, there is more of an emphasis on measurement and using data to better make decisions. “More and more retailers want to connect their campaigns to KPIs that truly matter,” said Gad.
- Measurement is evolving. Currently, it is primarily test and control, but we are moving to more continuous measurement. Michael noted, “If you have continuous measurement built into the product, it lends more credibility” to your results and campaigns. You cannot continually refine with project-based campaigns. Ben agreed, but with a caveat: “You set up a test and control to measure what is actually causing the strong relationship and use that to feed the real-time model so that it can give you better insights over time.” Test and control is not going away, but should be used in conjunction with always-on measurement.
- In order to optimize the balance of advertising spend, teams need to come up with methods of measuring efficacy for different channels and for overall performance. Data is extremely important for cross-channel measurement.
Mergers and Acquisitions in the Marketing Tech Landscape
Bryan Morris, CFO of LiveRamp, moderated as Terence Kawaja, CEO of Luma Partners, Paul Kwan, Managing Director at Morgan Stanley, and Bryan Lamkin, SVP Technology and Corporate Development at Adobe, discussed their observations about mergers and acquisition in the industry.
- Addressing the question of industry consolidation vs fragmentation, Kawaja mentioned that fragmentation and expansion will not go away, even as consolidation occurs more often. “This notion that there will be fewer companies is a fallacy.” While there are 40-50 M&A transactions per year, about 100-200 new companies form.
- Kwan shared some advice for people running companies who are thinking about exits. “Companies are not sold; they’re bought.” A private company needs to control its own destiny so that it has leverage when M&A interest comes in. Furthermore, acquisition interest has different value drivers in addition to net revenue, such as ” your team, your culture, your technical prowess, your data, above and beyond next year’s revenue.”
- Lamkin mentioned that he saw a stronger future for the industry in consolidation because many of these companies need to work so closely with others to increase the value of what they can offer. Furthermore, “the need to drive ROI in digital marketing spend is going to continue to drive consolidation.”
Utilizing Data for Customer Acquisition
Allison Metcalfe, Senior Director of Customer Success at LiveRamp, moderated a conversation with Glenn Eisen, CMO of DISH Digital, Cezanne Huq, former Head of Online Acquisition at Intuit Small Business, Mike Schneider, Director of Product Development at Bully Pulpit Interactive, and Michael Zeman, Director of North American Digital Marketing at Netflix.
- In terms of first party data, all of these companies focus on different attributes because of their varied audiences. The interesting challenge for marketers is to find what data they find the most actionable. This can be from customer data, behavior attributes, purchasing behavior, or other information.
- Given that there is a lot of data available, it really matters how a marketer decides on what data they want to use. Recency and accuracy are top candidates for determining data quality. Glenn believes that “if you have accurate and timely data and the right marketing programs to leverage that data,” you will be able to succeed as a business. Cezanne believes, “if you think about acquisition, recency is important. For a longer arc, accuracy.” For Mike, “The most important attributes are those that let you triage and score your audience.”
- Michael believes that for creative, “There’s so much great data available… actionable from a creative standpoint.” The more you know about your audience, the more you can tailor your creative to fit that audience.
If you are interested in learning more about LiveRamp or have comments about RampUp 2014, please send an email to firstname.lastname@example.org