Today, the success of paid media depends on the third-party cookie. As we mentioned in our previous blog, tracking click-to-purchase rates through third-party cookie-targeted ads will no longer be possible. As a result, marketers need to rethink kpis — specifically, how they measure them.
Instead of tracking conversions from retargeting ads, marketers can ensure they’re using google analytics to track their website data and train staff to monitor, analyze, and make recommendations based on those results.
Soon, acquiring customers through facebook targeted ads will be a thing of the past. Marketers need to adjust their customer acquisition funnels and be change leaders in their organizations to stay agile. It all starts with upgrading your data stack. The steps to measure customer acquisition will also change. Consider nurturing customers through engaging content like organic social posts or blogs.
How to use your crm and use it well
There are many options for managing first-party data, including excel spreadsheets, database software, and dedicated crm software. Our research shows that many marketers use all of the above methods, but crms lead the way with 68% of respondents can purchase phone lists saying that’s what their organizations use. Additionally, 72% say they use a crm often to do their jobs. However, many respondents say their crm isn’t as effective as it could be. Check out these insights:
50% say data input takes too much time and effort
42% need more training to get the most out of their crm
33% would get more out of their crm if they had on-staff experts
Although it seems daunting, investing the time and training into these areas is worth the payoff. If you are starting out with little to no data, spend the time mapping out a plan. Ask yourself questions like: what data do you want? How is it going to be formatted? Where is it going to be stored? What other departments need it.
If you have a good amount of data
Start off with an audit to see what you CU Lists have, where it’s being used, and where it’s being stored. Then make a plan on how your company should use that data and the changes that need to be made to get there.
The takeaway here is that your crm needs to do the heavy lifting for your organization. It should pull data from all departments, not just sales and marketing. Human resources, operations, finance, it, and additional departments also have a stake in the game.