The importance of value for money in marketing analytics will rise, new and better ways of evaluating the online customer experience will emerge and digital-first brands will focus in on market mix modelling.<\/strong><\/em><\/h4>\n1. Lots of digital-first brands will buy market mix modelling<\/h4>\n
There are three currently visible trends pointing to this:<\/p>\n
The first is multi-touch attribution slowly disappearing as an option. Third-party cookies are being phased out (on chrome browsers) or made optional (on apple phones). It means marketers won\u2019t be able to fully track people\u2019s online journeys and analysts will need another method by which to establish how online comms affect sales.<\/p>\n
The second is that 2020 saw many performance marketers become aware of the problems with multi-touch and last-click attribution. During Covid-19 they saw huge swings in the number of sales their online communications were supposedly driving. This was not because the platforms suddenly got better or worse at marketing, it was because the pandemic changed the pattern of demand.<\/p>\n
Finally, as online shopping replaced trips to bricks and mortar shops, ecommerce brands had a good 2020. With money in the bank and big ambitions for 2021, many will take their first steps into untrackable advertising like TV and out-of-home. To evaluate how those experiments worked, many will turn to market mix.<\/p>\n
The kind of market mix modelling that\u2019s evolved for evaluating TV campaigns for bricks and mortar brands isn\u2019t an exact fit for digital-first brands. But, in my experience with brands like Asos and GoDaddy, it can be successfully adapted to become hugely useful.<\/p>\n
2. We will develop more and better ways to evaluate online customer experience<\/h4>\n
When we weren\u2019t allowed out during the pandemic, a full \u00a31 in every \u00a33 spent was online, and it\u2019s likely the proportion of shopping that happens online will stay well above historical norms throughout 2021.<\/p>\n
It\u2019s partly because there may be more lockdowns or worries about in-person retail, and it\u2019s partly just because online shopping is better for some people and some shopping occasions so that the changed behaviour will continue.<\/p>\n
This means more customer experience is taking place on a computer or phone instead of in real life, and that will continue throughout the year.<\/p>\n
There are two implications that point to a need for more analytics. First, customer experience will be much easier to track and measure. And second, businesses that knew how to do customer experience well in person, need to learn again about what good service looks like online, or via social media.<\/p>\n
Lots of businesses have analytics that establish the likelihood of response to a particular customer initiative, it\u2019s a practice that\u2019s grown out of direct mail targeting and modelling to optimise CRM. This won\u2019t be enough.<\/p>\n
All kinds of online and previously offline businesses will need to know not only the propensity of an initial response, but also how customer experience affects sales and churn behaviour over years ahead, and how it affects the brand.<\/p>\n
All of this will be part of the toolkit for wise brands in 2021.<\/p>\n
3. There will be a new focus on value for money in marketing analytics<\/h4>\n
There\u2019s no doubt about it, 2021 is going to be a lean year for market research. The IPA\u2019s Bellwether report at the end of 2020 showed 30-40% of execs intending to cut spend.<\/p>\n
Analytics may fare better than traditional market research, but suppliers can\u2019t be complacent.<\/p>\n
With reduced research budgets, marketing directors and CMOs will be compelled to get at least three quotes, and everyone will be looking for the best value way to get a decent piece of work.<\/p>\n
Many will try smaller, independent providers that have lower overheads rather than stop at the first port of call \u2013 their media agency.<\/p>","protected":false},"excerpt":{"rendered":"
The importance of value for money in marketing analytics will rise, new and better ways of evaluating the online customer experience will emerge and digital-first brands [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":6501,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"\nThree predictions for marketing analytics in 2021 - DK Marketing<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dkmarketing.gr\/marketing-analytics-\u03c4\u03c1\u03b5\u03b9\u03c2-\u03c0\u03c1\u03bf\u03b2\u03bb\u03ad\u03c8\u03b5\u03b9\u03c2-\u03b3\u03b9\u03b1-\u03c4\u03bf-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Three predictions for marketing analytics in 2021 - DK Marketing\" \/>\n<meta property=\"og:description\" content=\"The importance of value for money in marketing analytics will rise, new and better ways of evaluating the online customer experience will emerge and digital-first brands [\u2026]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dkmarketing.gr\/marketing-analytics-\u03c4\u03c1\u03b5\u03b9\u03c2-\u03c0\u03c1\u03bf\u03b2\u03bb\u03ad\u03c8\u03b5\u03b9\u03c2-\u03b3\u03b9\u03b1-\u03c4\u03bf-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"DK Marketing\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DK-Marketing-International-Marketing-Consulting-Firm-174771289212750\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-03T13:48:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/dkmarketing.gr\/wp-content\/uploads\/2021\/03\/shutterstock_1006041130.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"448\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@DKConsultants_\" \/>\n<meta name=\"twitter:site\" content=\"@DKConsultants_\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\">\n\t<meta name=\"twitter:data1\" content=\"DK Marketing\">\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data2\" content=\"3 minutes\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/dkmarketing.gr\/#website\",\"url\":\"https:\/\/dkmarketing.gr\/\",\"name\":\"DK Marketing\",\"description\":\"The export marketing experts!\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/dkmarketing.gr\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/dkmarketing.gr\/marketing-analytics-%cf%84%cf%81%ce%b5%ce%b9%cf%82-%cf%80%cf%81%ce%bf%ce%b2%ce%bb%ce%ad%cf%88%ce%b5%ce%b9%cf%82-%ce%b3%ce%b9%ce%b1-%cf%84%ce%bf-2021\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/dkmarketing.gr\/wp-content\/uploads\/2021\/03\/shutterstock_1006041130.jpg\",\"width\":768,\"height\":448},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/dkmarketing.gr\/marketing-analytics-%cf%84%cf%81%ce%b5%ce%b9%cf%82-%cf%80%cf%81%ce%bf%ce%b2%ce%bb%ce%ad%cf%88%ce%b5%ce%b9%cf%82-%ce%b3%ce%b9%ce%b1-%cf%84%ce%bf-2021\/#webpage\",\"url\":\"https:\/\/dkmarketing.gr\/marketing-analytics-%cf%84%cf%81%ce%b5%ce%b9%cf%82-%cf%80%cf%81%ce%bf%ce%b2%ce%bb%ce%ad%cf%88%ce%b5%ce%b9%cf%82-%ce%b3%ce%b9%ce%b1-%cf%84%ce%bf-2021\/\",\"name\":\"Three predictions for marketing analytics in 2021 - 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