Uncategorized – Rewardrally.org https://rewardrally.org/ Reports That Resonate Mon, 22 Apr 2024 13:14:21 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 How Our Website Conversion Strategy Increased Business Inquiries by 37% https://rewardrally.org/how-our-website-conversion-strategy-increased-business-inquiries-by-37/ https://rewardrally.org/how-our-website-conversion-strategy-increased-business-inquiries-by-37/#respond Mon, 22 Apr 2024 13:14:21 +0000 https://rewardrally.org/?p=71800 The author’s views are entirely their own (excluding the unlikely event of hypnosis) and may not always reflect the views of Moz.

Having a website that doesn’t convert is a little like having a bucket with a hole in it. Do you keep filling it up while the water’s pouring out — or do you fix the hole then add water? In other words, do you channel your budget into attracting people who are “pouring” through without taking action, or do you fine-tune your website so it’s appealing enough for them to stick around?

Our recommendation? Optimize the conversion rate of your website, before you spend on increasing your traffic to it.

Here’s a web design statistic to bear in mind: you have 50 milliseconds to make a good first impression. If your site’s too slow, or unattractive, or the wording isn’t clear, they’ll bounce faster than you can say “leaky bucket”. Which is a shame, because you’ve put lots of effort into designing a beautiful product page and About Us, and people just aren’t getting to see it.

As a digital web design and conversion agency in Melbourne, Australia, we’ve been helping our customers optimize their websites for over 10 years, but it wasn’t until mid-2019 that we decided to turn the tables and take a look at our own site.

As it turned out, we had a bit of a leaky bucket situation of our own: while our traffic was good and conversions were okay, there was definitely room for improvement.

In this article, I’m going to talk a little more about conversions: what they are, why they matter, and how they help your business. I’ll then share how I made lots of little tweaks that cumulatively led to my business attracting a higher tier of customers, more inquiries, plus over $780,000 worth of new sales opportunities within the first 26 weeks of making some of those changes. Let’s get into it!

What is conversion?

Your conversion rate is a figure that represents the percentage of visitors who come to your site and take the desired action, e.g. subscribing to your newsletter, booking a demo, purchasing a product, and so on.

Conversions come in all shapes and sizes, depending on what your website does. If you sell a product, making a sale would be your primary goal (aka a macro-conversion). If you run, say, a tour company or media outlet, then subscribing or booking a consultation might be your primary goal.

If your visitor isn’t quite ready to make a purchase or book a consultation, they might take an intermediary step — like signing up to your free newsletter, or following you on social media. This is what’s known as a micro-conversion: a little step that leads towards (hopefully) a bigger one.

A quick recap

A conversion can apply to any number of actions — from making a purchase, to following on social media.

Macro-conversions are those we usually associate with sales: a phone call, an email, or a trip to the checkout. These happen when the customer has done their research and is ready to leap in with a purchase. If you picture the classic conversion funnel, they’re already at the bottom.

Conversion funnel showing paying clients at the bottom.

Micro-conversions, on the other hand, are small steps that lead toward a sale. They’re not the ultimate win, but they’re a step in the right direction.

Most sites and apps have multiple conversion goals, each with its own conversion rate.

Micro-conversions vs. macro-conversions: which is better?

The short answer? Both. Ideally, you want micro- and macro-conversions to be happening all the time so you have a continual flow of customers working their way through your sales funnel. If you have neither, then your website is behaving like a leaky bucket.

Here are two common issues that seem like good things, but ultimately lead to problems:

High web traffic (good thing) but no micro- or macro-conversions (bad thing — leaky bucket alert)

High web traffic (good thing) plenty of micro-conversions (good thing), but no macro conversions (bad thing)

A lot of businesses spend heaps of money making sure their employees work efficiently, but less of the budget goes into what is actually one of your best marketing tools: your website.

Spending money on marketing will always be a good thing. Getting customers to your site means more eyes on your business — but when your website doesn’t convert visitors into sales, that’s when you’re wasting your marketing dollars. When it comes to conversion rate statistics, one of the biggest eye-openers I read was this: the average user’s attention span has dropped from 12 to a mere 7 seconds. That’s how long you’ve got to impress before they bail — so you’d better make sure your website is fast, clear, and attractive.

Our problem

Our phone wasn’t ringing as much as we’d have liked, despite spending plenty of dollars on SEO and Adwords. We looked into our analytics and realized traffic wasn’t an issue: a decent number of people were visiting our site, but too few were taking action — i.e. inquiring. Here’s where some of our issues lay:

Our site wasn’t as fast as it could have been (anything with a load time of two seconds or over is considered slow. Ours was hovering around 5-6, and that was having a negative impact on conversions).

Our CTA conversions were low (people weren’t clicking — or they were dropping off because the CTA wasn’t where it needed to be).

We were relying on guesswork for some of our design decisions — which meant we had no way of measuring what worked, and what didn’t.

In general, things were good but not great. Or in other words, there was room for improvement.

What we did to fix it

Improving your site’s conversions isn’t a one-size-fits all thing — which means what works for one person might not work for you. It’s a gradual journey of trying different things out and building up successes over time. We knew this having worked on hundreds of client websites over the years, so we went into our own redesign with this in mind. Here are some of the steps we took that had an impact.

We decided to improve our site

First of all, we decided to fix our company website. This sounds like an obvious one, but how many times have you thought “I’ll do this really important thing”, then never gotten round to it. Or rushed ahead in excitement, made a few tweaks yourself, then let your efforts grind to a halt because other things took precedence?

This is an all-too-common problem when you run a business and things are just… okay. Often there’s no real drive to fix things and we fall back into doing what seems more pressing: selling, talking to customers, and running the business.

Deciding you want to improve your site’s conversions starts with a decision that involves you and everyone else in the company, and that’s what we did. We got the design and analytics experts involved. We invested time and money into the project, which made it feel substantial. We even made EDMs to announce the site launch (like the one below) to let everyone know what we’d been up to. In short, we made it feel like an event.

Graphic showing hummingbird flying in front of desktop monitor with text

We got to know our users

There are many different types of user: some are ready to buy, some are just doing some window shopping. Knowing what type of person visits your site will help you create something that caters to their needs.

We looked at our analytics data and discovered visitors to our site were a bit of both, but tended to be more ready to buy than not. This meant we needed to focus on getting macro-conversions — in other words, make our site geared towards sales — while not overlooking the visitors doing some initial research. For those users, we implemented a blog as a way to improve our SEO, educate leads, and build up our reputation.

User insight can also help you shape the feel of your site. We discovered that the marketing managers we were targeting at the time were predominantly women, and that certain images and colours resonated better among that specific demographic. We didn’t go for the (obvious pictures of the team or our offices), instead relying on data and the psychology of attraction to delve into the mind of the users.

Chromatix website home page showing a bright pink flower and text.
Chromatix web page showing orange hummingbird and an orange flower.We improved site speed

Sending visitors to good sites with bad speeds erodes trust and sends them running. Multiple studies show that site speed matters when it comes to conversion rates. It’s one of the top SEO ranking factors, and a big factor when it comes to user experience: pages that load in under a second convert around 2.5 times higher than pages taking five seconds or more.

Bar chart showing correlation between fast loading pages and a higher conversion rate.

We built our website for speed. Moz has a great guide on page speed best practices, and from that list, we did the following things:

We optimized images.

We managed our own caching.

We compressed our files.

We improved page load times (Moz has another great article about how to speed up time to first Byte). A good web page load time is considered to be anything under two seconds — which we achieved.

In addition, we also customized our own hosting to make our site faster.

We introduced more tracking

As well as making our site faster, we introduced a lot more tracking. That allowed us to refine our content, our messaging, the structure of the site, and so on, which continually adds to the conversion.

We used Google Optimize to run A/B tests across a variety of things to understand how people interacted with our site. Here are some of the tweaks we made that had a positive impact:

Social proofing can be a really effective tool if used correctly, so we added some stats to our landing page copy.

Google Analytics showed us visitors were reaching certain pages and not knowing quite where to go next, so we added CTAs that used active language. So instead of saying, “If you’d like to find out more, let us know”, we said “Get a quote”, along with two options for getting in touch.

We spent an entire month testing four words on our homepage. We actually failed (the words didn’t have a positive impact), but it allowed us to test our hypothesis. We did small tweaks and tests like this all over the site.

Analytics data showing conversion rates.

We used heat mapping to see where visitors were clicking, and which words caught their eye. With this data, we knew where to place buttons and key messaging.

We looked into user behavior

Understanding your visitor is always a good place to start, and there are two ways to go about this:

Quantitative research (numbers and data-based research)

Qualitative research (people-based research)

We did a mixture of both.

For the quantitative research, we used Google Analytics, Google Optimize, and Hotjar to get an in-depth, numbers-based look at how people were interacting with our site.

Heat-mapping software, Hotjar, showing how people click and scroll through a page.

Heat-mapping software shows how people click and scroll through a page. Hot spots indicate places where people naturally gravitate.

We could see where people were coming into our site (which pages they landed on first), what channel brought them there, which features they were engaging with, how long they spent on each page, and where they abandoned the site.

For the qualitative research, we focused primarily on interviews.

We asked customers what they thought about certain CTAs (whether they worked or not, and why).

We made messaging changes and asked customers and suppliers whether they made sense.

We invited a psychologist into the office and asked them what they thought about our design.

What we learned

We found out our design was good, but our CTAs weren’t quite hitting the mark. For example, one CTA only gave the reader the option to call. But, as one of our interviewees pointed out, not everyone likes using the phone — so we added an email address.

We were intentional but ad hoc about our asking process. This worked for us — but you might want to be a bit more formal about your approach (Moz has a great practical guide to conducting qualitative usability testing if you’re after a more in-depth look).

The results

Combined, these minor tweaks had a mighty impact. There’s a big difference in how our site looks and how we rank. The bottom line: after the rebuild, we got more work, and the business did much better. Here are some of the gains we’ve seen over the past two years.

Pingdom website speed test for Chromatix.

Our dwell time increased by 73%, going from 1.5 to 2.5 minutes.

We received four-times more inquiries by email and phone.

Our organic traffic increased despite us not channeling more funds into PPC ads.

Graph showing an increase in organic traffic from January 2016 to January 2020.
Graph showing changes in PPC ad spend over time.

We also realized our clients were bigger, paying on average 2.5 times more for jobs: in mid-2018, our average cost-per-job was $8,000. Now, it’s $17,000.

Our client brand names became more recognizable, household names — including two of Australia’s top universities, and a well-known manufacturing/production brand.

Within the first 26 weeks, we got over $770,000 worth of sales opportunities (if we’d accepted every job that came our way).

Our prospects began asking to work with us, rather than us having to persuade them to give us the business.

We started getting higher quality inquiries — warmer leads who had more intent to buy.

Some practical changes you can make to improve your website conversions

When it comes to website changes, it’s important to remember that what works for one person might not work for you.

We’ve used site speed boosters for our clients before and gotten really great results. At other times, we’ve tried it and it just broke the website. This is why it’s so important to measure as you go, use what works for your individual needs, and remember that “failures” are just as helpful as wins.

Below are some tips — some of which we did on our own site, others are things we’ve done for others.

Tip number 1: Get stronger hosting that allows you to consider things like CDNs. Hiring a developer should always be your top choice, but it’s not always possible to have that luxury. In this instance, we recommend considering CDNs, and depending on the build of your site, paying for tools like NitroPack which can help with caching and compression for faster site speeds.

Tip number 2: Focus your time. Identify top landing pages with Moz Pro and channel your efforts in these places as a priority. Use the 80/20 principle and put your attention on the 20% that gets you 80% of your success.

Tip number 3: Run A/B tests using Google Optimize to test various hypotheses and ideas (Moz has a really handy guide for running split tests using Google). Don’t be afraid of the results — failures can help confirm that what you are currently doing right. You can also access some in-depth data about your site’s performance in Google Lighthouse.

Site performance data in Google Lighthouse.

Tip number 4: Trial various messages in Google Ads (as a way of testing targeted messaging). Google provides many keyword suggestions on trending words and phrases that are worth considering.

Tip number 5: Combine qualitative and quantitative research to get to know how your users interact with your site — and keep testing on an ongoing basis.

Tip number 6: Don’t get too hung up on charts going up, or figures turning orange: do what works for you. If adding a video to your homepage slows it down a little but has an overall positive effect on your conversion, then it’s worth the tradeoff.

Tip number 7: Prioritize the needs of your target customers and focus every build and design choice around them.

Recommended tools

Nitropack: speed up your site if you’ve not built it for speed from the beginning.

Google Optimize: run A/B tests

HotJar: see how people use your site via heat mapping and behaviour analytics.

Pingdom / GTMetrix: measure site speed (both is better if you want to make sure you meet everyone’s requirements).

Google Analytics: find drop-off points, track conversion, A/B test, set goals.

Qualaroo: poll your visitors while they are on your site with a popup window.

Google Consumer Surveys: create a survey, Google recruits the participants and provides results and analysis.

Moz Pro: Identify top landing pages when you connect this tool to your Google Analytics profile to create custom reports.

How to keep your conversion rates high

Treat your website like your car. Regular little tweaks to keep it purring, occasional deeper inspections to make sure there are no problems lurking just out of sight. Here’s what we do:

We look at Google Analytics monthly. It helps to understand what’s working, and what’s not.

We use goal tracking in GA to keep things moving in the right direction.

We use Pingdom’s free service to monitor the availability and response time of our site.

We regularly ask people what they think about the site and its messaging (keeping the qualitative research coming in).

Conclusion

Spending money on marketing is a good thing, but when you don’t have a good conversion rate, that’s when your website’s behaving like a leaky bucket. Your website is one of your strongest sales tools, so it really does pay to make sure it’s working at peak performance.

I’ve shared a few of my favorite tools and techniques, but above all, my one bit of advice is to consider your own requirements. You can improve your site speed if you remove all tags and keep it plain. But that’s not what you want: it’s finding the balance between creativity and performance, and that will always depend on what’s important.

For us as a design agency, we need a site that’s beautiful and creative. Yes, having a moving background on our homepage slows it down a little bit, but it improves our conversions overall.

The bottom line: Consider your unique users, and make sure your website is in line with the goals of whoever you’re speaking with.

We can do all we want to please Google, but when it comes to sales and leads, it means more to have a higher converting and more effective website. We did well in inquiries (actual phone calls and email leads) despite a rapid increase in site performance requirements from Google. This only comes down to one thing: having a site customer conversion framework that’s effective.

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Ad Strength Deep Dive: All Your Tough Ad Strength Questions Answered via @sejournal, @adsliaison https://rewardrally.org/ad-strength-deep-dive-all-your-tough-ad-strength-questions-answered-via-sejournal-adsliaison/ https://rewardrally.org/ad-strength-deep-dive-all-your-tough-ad-strength-questions-answered-via-sejournal-adsliaison/#respond Mon, 22 Apr 2024 13:14:07 +0000 https://rewardrally.org/?p=71797

Recently, there has been a lot of discussion about Ad Strength in Google Ads, including debate about its value, how it works, whether it plays a role in the auction (it doesn’t), and how to think about it in your accounts.

Like almost everything in paid advertising, there’s nuance to Ad Strength. No, it’s not a perfect indicator of how your ads will perform nor do well-performing ads with lower Ad Strength mean it’s useless information.

And what’s up with Ad Strength decreasing with pinning? We’ll get into that, too.

What Is Ad Strength?

It’s first important to understand the fundamentals of Ad Strength and what it’s designed to reflect.

Ad Strength is a diagnostic tool developed with the introduction of responsive search ads (RSAs) to help advertisers understand how the diversity and relevancy of their creative assets can maximize the number of relevant ad combinations that may show for a query.

More ad combinations typically mean more opportunities to show relevant ads to more users.

Ad Strength has four ratings: Poor, Average, Good, or Excellent.

As you construct or edit your RSAs, you’ll see the Ad Strength rating adjust in real-time as you build out or edit your assets.

Having a variety of quality assets (e.g., ensuring your headlines aren’t repetitive) is not only helpful for the system to learn, but it also gives you the opportunity to serve relevant assets to subsets of searchers you may not have reached otherwise.

This is why you may see some assets perform well even though they have a relatively low number of impressions.

Why Does Google Ads Seem To Put So Much Emphasis On Ad Strength?

After years of building and testing static text ads, RSAs required a mindset shift in how to build, test, and optimize search ads.

The fundamentals of what makes a good ad haven’t changed, but the mechanics have.

Responsive search ads use AI to test and learn which assets and ad combinations perform best for each query.

Ad Strength was developed to give advertisers a tool to understand which attributes have been shown to correlate with the increased performance of RSAs.

You may have seen the stat that advertisers who improve Ad Strength for their responsive search ads from “Poor” to “Excellent” see 12% more conversions on average.

That’s a look across search campaigns globally, and of course, your actual performance improvements may vary from that average. However, it’s a statistically significant indication that Ad Strength can be a useful tool to consider as you build out and test your ads.

What Does Ad Strength Look At?

Ad Strength looks at four categories that have been shown to result in better performance through Google regression analyses (holdback experiments).

The categories Ad Strength looks at are:

Number of headlines.
Keyword relevance of headlines and descriptions.
Uniqueness of headlines.
Uniqueness of description lines.

The score reflects the variety and relevancy of your assets. Rating-to-rating improvements are expected to result in increased performance based on the factors we’ve seen lead to improvement.

Note that Ad Strength also now takes automatically created assets into account if enabled in your campaign.

We’ve also introduced the Ad Strength concept to Performance Max campaigns. More on that in a bit.

Is Ad Strength A Factor In The Auction?

This is probably the biggest misconception I hear about Ad Strength. No, Ad Strength is not a factor in the auction.

Ad Strength is a feedback mechanism for your creative assets. It is meant to be used as a helpful guide to improve the effectiveness of your ads. It is not used directly in the auction.

Ad Strength has no effect on bidding or the ability of your ads to enter the auction.

To quote directly from the “About Ad Strength” article in the Help Center:

“The Ad Strength rating of an ad doesn’t directly influence your ad’s serving eligibility.

Instead, the Ad Strength rating identifies opportunities (during the ad creation or editing stage) to improve your ads to optimize their performance.”

Does A Low Ad Strength Rating Limit My Impressions Or Prevent My Ads From Serving?

A low Ad Strength could explain a lack of impressions because it indicates that your ads likely don’t have the asset diversity or relevancy to be eligible for many auctions, and your ads are not resonating with users.

However, a low Ad Strength does not prevent ads from entering into auctions. Ad Strength is not a factor in the auction. In other words, the system doesn’t “hold back” or “promote” ads based on Ad Strength.

Ad Strength is a forward-looking tool that reflects whether you’re maximizing the number of high-quality, relevant ad combinations your ad can serve.

Is Ad Strength Related To Quality Score Or Ad Rank?

No.

The Quality Score that is shown in your account is a separate (and older) diagnostic tool that looks at expected ad click-through rate, ad relevance, and landing page experience.

It’s worth noting that Quality Score is also not used in the auction. Keywords are given a Quality Score based on historical impressions for exact searches of the keyword.

Quality Score reflects some of the values in Ad Rank, which determines whether your ad is eligible to show and where your ad is ranked relative to other eligible advertisers’ ads.

Ad Strength is not used in Ad Rank.

Further, bidding plays no role in Ad Strength.

Why Does Pinning Change My Ad Strength Rating?

We know pinning can be necessary and valuable, but it restricts the number of ad combinations that can be matched to a query.

That’s why you’ll see an impact on the Ad Strength when you use pinning. A lower Ad Strength score shouldn’t stop you from pinning when needed or helpful.

It’s also why we recommend pinning two or three headlines or descriptions to each position when possible to increase the number of combinations available. We know many advertisers find this to be a successful strategy.

What Should I Do If I See A Low Ad Strength Notification?

When you’re creating new ads, you’ll see Ad Strength suggestions based on the categories covered above.

Are these recommendations hard and fast rules? No. Like any best practice, they’re recommended starting points based on observed past performance.

A low Ad Strength notice indicates that your ads may have limited impression opportunities based on the number, diversity, and relevancy of the assets you’ve provided.

Again, though, a low Ad Strength won’t prevent your ads from entering auctions.

And, yes, you may see ads with lower Ad Strength perform well and meet your targets.

However, there may still be opportunities to remove low-rated assets and test new ones, or to add new assets that could appeal to subsets of your target audiences, for example.

Does High Ad Strength Guarantee Strong Performance?

Across campaigns globally, we see better performance on average when there is at least one ad with Good or Excellent Ad Strength in each ad group.

However, Good or Excellent Ad Strength doesn’t necessarily guarantee your ad will meet your performance expectations.

Regardless of your Ad Strength rating, you should continue to evaluate the performance of your ads and assets and continue testing and optimizing.

What Is Ad Strength In Performance Max & Demand Gen?

Ad Strength was introduced in Performance Max in February. In Performance Max, Ad Strength reflects the quantity and variety of assets that can serve across Google channels, not just search.

For example, Poor Ad Strength in Performance Max reflects that an asset group doesn’t have the breadth of assets to serve on all available inventory formats – and an Excellent Ad Strength reflects that you’ve included all asset types and have a diverse variety of text and other assets.

You can read more about the Performance Max asset recommendations for text, images, videos, and more in the Help Center here.

Similarly, Ad Strength is also available in Demand Gen campaigns. In this Help Center article, you’ll find Ad Strength guidelines for the various ad formats supported in Demand Gen, including single image, dynamic, carousel, and video.

How Should I Use Ad Strength?

To put it all together, Ad Strength is a feedback mechanism for creative content and meant to be used as a helpful guide to improve the effectiveness of your ads.

Ad Strength is a tool. It isn’t a key performance indicator (KPI). It isn’t used in the auction. It shouldn’t inhibit your testing.

Use Ad Strength as a guide to understand what may help improve performance during ad creation and optimization.

The reason we recommend having at least one ad with Good or Excellent Ad Strength per ad group is because that’s what has been shown to increase conversion performance on average.

To dive in even deeper, I recommend checking out the Responsive Search Ads technical guide. You’ll find more on Ad Strength on pages 5 and 6 of the guide.

More resources:

Featured Image: eamesBot/Shutterstock

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The state of data in 2024: How the ad industry is adapting to privacy regulations https://rewardrally.org/the-state-of-data-in-2024-how-the-ad-industry-is-adapting-to-privacy-regulations/ https://rewardrally.org/the-state-of-data-in-2024-how-the-ad-industry-is-adapting-to-privacy-regulations/#respond Mon, 22 Apr 2024 13:13:49 +0000 https://rewardrally.org/?p=71794

Consumer privacy has become a major focus in the digital advertising industry. New regulations and growing public concerns over data collection practices have forced companies to rethink their strategies. As leaders in this field, it is our responsibility to adapt and evolve. It’s not enough to just comply with regulations. We must always serve the best interests of consumers.

By adopting a “privacy-by-design” approach, we can address the growing apprehension surrounding excessive data collection, build trust and foster long-term consumer loyalty — the cornerstones of economic success in the advertising industry.

Insights into the shifting privacy landscape

The recently released IAB State of Data 2024 report (registration required), titled “How the Digital Ad Industry is Adapting to the Privacy-By-Design Ecosystem,” offers insights into how the industry is responding to privacy changes. It surveyed and interviewed over 500 data and advertising decision-makers at brands, agencies and publishers.

The report highlights the strategic changes and innovations prompted by the need for privacy compliance and sustainable, consumer-friendly approaches. 

Up to 95% of decision-makers anticipate ongoing legislation and signal loss in 2024 and beyond. 

Two-thirds predict the implementation of more state privacy laws, reducing their capacity to personalize messages to consumers. 

This shift toward a privacy-first environment has led to significant organizational restructuring for over 80% of companies.

Adapting to the new normal: Investments in training and expertise

To adapt, companies are investing significantly in training staff on data privacy (78%), creating dedicated teams for business transformation and seeking external expertise through new hires and consultancy partnerships. 

Analytics departments are being impacted the most, along with legal and compliance, ad operations and programmatic teams, due to their heavy reliance on data.

Dig deeper: Why marketers should care about consumer privacy

The decline of high-quality data and its impact on media planning

The market is facing sweeping declines in accessible, high-quality data. 

About three-in-four advertising and data leaders expect the ability to collect and leverage integral consumer data, including device signals and location, to be continually reduced. 

While 60% expect the same with demographics, user preferences and behavior. 

Confidence in data accuracy from key partners is also falling, including from social media (59%), programmatic (57%) and ad serving companies (52%).

These challenges have profoundly impacted media planning and buying. 

Nearly nine in ten ad buyers report shifts in personalization tactics, ad spend and their mix of first-, second- and third-party data. 

Over three-in-four cite selection changes in media channels and KPIs, along with more seller-direct deals. 

Ad spend that taps into first-party data and engages audiences at scale, such as CTV, paid search, social media and retail media, is being prioritized.

Enhancing data quality through first-party data and AI

To improve data quality:

71% of brands, agencies and publishers are increasing their first-party datasets, with an average anticipated growth rate of 35% in the next 12 months. They are collecting an array of consumer data points to enable robust profiles, including contact info, device signals, transactions, content consumption, location, demographics and interests.

One-third are also leveraging AI and machine learning to enhance these datasets.

However, it is important to note that first-party data is not immune to potential future restrictions. As privacy regulations evolve, collecting and using first-party data may face increased scrutiny and limitations. Companies must remain vigilant and adaptable, ensuring their data practices align with the latest privacy requirements and consumer expectations.

Beyond first-party data, companies are investing in analytical methods that are less dependent on tracking, such as media mix modeling and multi-touch attribution. Contextual advertising is seeing a resurgence, with 66% of current contextual ad buyers planning to boost investments.

More direct deals with publishers are being struck to appear in trusted environments and leverage their first-party data. However, as with any data-driven approach, monitoring and adjusting strategies as privacy landscapes shift is crucial.

Dig deeper: An approach to unlocking first-party data strategies

Balancing privacy and economic growth

Adopting privacy-by-design is a strategic move to prioritize consumer interests and uphold our role as industry leaders. By integrating privacy into operations, you can mitigate worries about data collection, bolstering consumer trust and loyalty, which are vital for economic success.

It is crucial to achieve a balance between protecting consumer privacy and driving economic growth. This approach respects individual rights, supports innovation and enables a competitive marketplace.

Ignoring privacy risks can lead to regulatory fines and undermine public trust in advertising, potentially harming consumer engagement and economic performance. Keeping up with evolving privacy standards is critical to maintaining a positive market position and ensuring long-term success.

The industry faces hurdles, notably the lack of clear regulatory guidance and technological structure to support diverse business use cases. A privacy framework that prioritizes consumer rights while enabling companies to efficiently target relevant ads to consumers and provide effective measurement and attribution is essential.

Privacy-by-design is more than a compliance requirement; it’s a commitment to aligning business practices with modern values of privacy. Implementing it requires careful thought and planning to ensure that privacy measures are deeply integrated and not hastily added. This could dilute their effectiveness, compromise consumer trust and lead to potential revenue and profitability loss.

Dig deeper: How to build customer trust through data privacy and security

A call to action: Leading the charge in consumer privacy

Integrating privacy into your operations strategically mitigates backlash and positively influences public attitudes toward advertising. Embracing privacy-by-design as a collective effort can ignite innovation and growth within our industry.

By pioneering new advertising models and technologies that prioritize consumer privacy while driving brand engagement, we can significantly enhance our industry’s standing and unlock economic opportunities.

The time has come for the advertising industry to champion consumer privacy. As highlighted in the IAB State of Data 2024 report, embracing privacy-by-design as a strategic imperative is crucial for building a more sustainable, trust-based ecosystem that benefits consumers and businesses alike. 

This transformative journey requires collaboration, innovation and an unwavering commitment to putting consumer privacy at the forefront of our efforts. Let us seize this opportunity to redefine the future of advertising and pave the way for a more prosperous, privacy-conscious era.

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The post The state of data in 2024: How the ad industry is adapting to privacy regulations appeared first on MarTech.

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Seabrook Crisps asks 'What's your flavour?' in idents for ITV's In For A Penny https://rewardrally.org/seabrook-crisps-asks-whats-your-flavour-in-idents-for-itvs-in-for-a-penny/ https://rewardrally.org/seabrook-crisps-asks-whats-your-flavour-in-idents-for-itvs-in-for-a-penny/#respond Mon, 22 Apr 2024 12:27:19 +0000 https://rewardrally.org/?p=71789 Snack brand is sponsoring the game show.

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Four agencies on track for Greater Anglia media account https://rewardrally.org/four-agencies-on-track-for-greater-anglia-media-account/ https://rewardrally.org/four-agencies-on-track-for-greater-anglia-media-account/#respond Mon, 22 Apr 2024 12:25:06 +0000 https://rewardrally.org/?p=71786 The media review is being run as a two-stage pitch.

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Old Spice ad positions brand as gateway to manhood https://rewardrally.org/old-spice-ad-positions-brand-as-gateway-to-manhood/ https://rewardrally.org/old-spice-ad-positions-brand-as-gateway-to-manhood/#respond Mon, 22 Apr 2024 12:23:06 +0000 https://rewardrally.org/?p=71783 Wieden & Kennedy London created the campaign.

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TwentyFirstCenturyBrand appoints executive team https://rewardrally.org/twentyfirstcenturybrand-appoints-executive-team/ https://rewardrally.org/twentyfirstcenturybrand-appoints-executive-team/#respond Mon, 22 Apr 2024 12:20:27 +0000 https://rewardrally.org/?p=71780 TwentyFirstCenturyBrand was acquired by London-based Common Interest late last year.

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How much is Possible’s future in Michael Kassan’s hands? https://rewardrally.org/how-much-is-possibles-future-in-michael-kassans-hands/ https://rewardrally.org/how-much-is-possibles-future-in-michael-kassans-hands/#respond Mon, 22 Apr 2024 12:17:51 +0000 https://rewardrally.org/?p=71777

The second installment of marketing, media and tech tentpole aspirant Possible 2024 wrapped up last week, and for all intents and purposes it appeared to avoid the sophomore slump that often accompanies year-two efforts.

Attendance was up more than 1,000 over 2023 to hit 3,600, and by and large attendees felt they were able to network and catch up with colleagues and clients just as, and in some cases more, effectively there as other tentpoles – be it CES, Cannes Lions, Dmexco or Advertising Week.

Some people in the know at Possible said they see the potential of the conference taking a bite out of Cannes’ attendance, most acutely by U.S.-based marketers who could save money by staying on this side of the Atlantic. Others, meanwhile, believe the event may move to earlier in the year, as a possible competitor to CES’ C Space attendance (which, given Kassan’s current contract spat, would be a jab at Medialink).

Needless to say, there remain a few wrinkles to still iron out after year two. The first day of Possible, April 15, hundreds of attendees were milling about — but there was little to no actual content, which left some attendees wondering why they got there so early. But Possible was marketed as an event that ran from April 15-17.

Digiday’s senior editor Ronan Shields asked the question of whether or not Possible can become a cornerstone event on the scale of a Cannes Lions or CES? Well, the answer to that question lies largely in the hands of one person: Michael Kassan, the longtime CEO of Medialink, who’s currently battling with Medialink’s owner, L.A. talent agency UTA following a contract dispute that loudly spilled into the public arena. He is also the chairman of Beyond Ordinary Events, the organization that formally owns Possible alongside future-of-marketing association MMA Global.

Kassan, who spoke with Digiday at Possible (see interview below), has long coveted control of Cannes Lions, having been instrumental in bringing the media side of the agency world to Cannes Lions to what was just a creative celebration. He also brought marketers and media executives to CES about 10 years ago with the debut of the C Space at CES.

He certainly sounds like a believer in Possible’s role on any marketer’s calendar. “Apparently there was a void,” Kassan said. “Maybe it was a geographic void. Maybe it was a subject void, but I think this moved into the void … Possible has an opportunity to be a mini version of Cannes.”

However, as he told Digiday, nothing’s going to happen until he and UTA can resolve the current dispute. But it’s clear the power — however much he claims to not know what power is — to change the future of Possible likely rests in his hands.

Here’s the interview with Kassan:

Christian Muche, who’s the CEO of Beyond Ordinary, the organization that puts on Possible, also shared his assessment of this year, as well as what he hopes will be a solid place among those other tentpoles.

Muche shared his thoughts at the Digiday Studio, in this interview:

https://digiday.com/?p=541913

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Ex-Snapchat creative lead appointed UK head of digital at Edelman https://rewardrally.org/ex-snapchat-creative-lead-appointed-uk-head-of-digital-at-edelman/ https://rewardrally.org/ex-snapchat-creative-lead-appointed-uk-head-of-digital-at-edelman/#respond Mon, 22 Apr 2024 12:17:50 +0000 https://rewardrally.org/?p=71774 Edelman has hired a social media expert who has experience working for Snapchat, and on accounts including Google and Amazon, as its UK head of digital.

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