MarTech Series interviewed our Data Scientist Scotty Pate about how he thinks AI-based marketing automation strategies will fare in 2018.
In this QSR Magazine byline, Jay explains why digital media now offers greater measurement and sophisticated tools to franchisees than any other form of advertising available.
In this AdExchanger “The Sell Sider” column, our COO Jay Friedman writes about how open exchanges are having a renaissance due to efforts like Ads.txt and explains why private marketplaces (PMPs) are programmatic advertising’s biggest time suck.
One of the toughest challenges advertisers face is keeping up with the ever-evolving technology landscape. Most recently, how advertisers collect and share consumer data online has been called into question in the European Union (EU). A new data privacy law, known as the General Data Protection Regulation (GDPR), went into effect May 25, 2018, and is the latest effort to give people more control over their digital data and how it’s used. This is great for consumer privacy, but how will it impact your advertising? Although hotly debated, the GDPR does not signify the end of digital advertising in the EU. However, it will certainly have an influence on the entire digital ad industry, not just EU-based organizations. So what is the GDPR, who does it impact, and what should you consider to protect your campaigns? Terms to Know
What is the 1995 Data Protection Directive? It was one of the first large-scale efforts to define what and how personal data could be used by companies and advertisers. The GDPR replaced this directive in 2018. Personal data identified in the directive included a person’s name, photo, email address, phone number or personal ID. However, member states or individual countries could alter or supersede this directive. What is the GDPR? The GDPR standardizes data protection laws across all 28 EU countries and imposes rules on controlling and processing personally identifiable information (PII). Under GDPR, the definition of personal data was extended to include pseudonymous data, like online identifiers, IP addresses, and mobile device IDs. This requires companies to gain (or regain) approval from European customers to collect, use or share their data for advertising purposes. Who are data subjects? Individuals located in the EU whose personal data is collected and processed by companies or other entities. Anyone located in the EU who shares personal data online, including data shared through cookies and advertising IDs. Who are controllers? Companies or other entities who collect information from users and decide how to process or use that data. Publishers and website owners are common controllers. As the data source, controllers shoulder the burden for ensuring GDPR compliance. Who are processors? Companies or other entities that process personal data on behalf of a controller. Goodway Group is a processor of first- and third-party data for advertisers. At Goodway, we only process pseudonymous data. Who Does This Impact?
- Companies located within the EU
- Companies that provide goods or services to consumers within the EU
- Companies that monitor consumers or their behaviors in the EU
Protecting Yourself – What To Consider?
Review Your Data Processes With Legal Counsel
If your company has any EU connection, review how you acquire, store and share customer data with your legal counsel. They will help ensure your website, as well as any other digital extension of your business, collects and uses that data in a GDPR-approved manner.
Leverage an IAB-Europe-Approved CMP
Communicating the GDPR with consumers and obtaining their consent are key. Use an IAB-Europe-approved Consent Management Platform (CMP) to apply a value exchange that’s GDPR-compliant and entices site visitors to share their information.
Evaluate Your Current Campaigns
Do a thorough assessment of the targeting and tracking methods you use on any current EU-focused display or SEM campaigns. Don’t forget to also check your seasonal campaigns scheduled to run later in the year. How Does Goodway Ensure GDPR Compliance?
Focus On Our Operations
In response to the GDPR, we assembled a task force to update our operations and policies to meet new data protection requirements. We are also in the process of adapting the IAB Europe’s GDPR Transparency & Consent Framework, and we are registered on the Global Vendor List.
Partner With the Best
We only work with GDPR-friendly partners, including The Trade Desk and Google. We maintain high standards for our partners to both safeguard your campaigns and make the process of legally collecting and using your customer information easier.
We require all advertisers targeting the EU to confirm consumer consent was achieved in alignment with GDPR compliance and to post privacy policies meeting GDPR requirements. Our partners will not accept or keep any EU-targeted data points that do not include the consumer’s consent, protecting both Goodway Group and our advertisers. We also restrict tracking on EU campaigns until you confirm and accept liability for GDPR compliance. Now that you know what the GDPR is, you can start assessing your campaigns and adjusting your EU strategy for the future. And continue to keep on top of what’s happening in ad tech by subscribing to our blog today.
This Business Insider article about how General Data Protection Regulation (GDPR) could boost Target and Walmart because they have direct data relationships with consumers also includes the following quote from our Director of Enterprise Partnerships Amanda Martin: “The strategy behind targeted campaigns will adjust in the short term until the industry sees how this new regulation is enforced, but the largest impact will be on the scale of third-party data due to the new requirement of explicit consent.”
Over the past year, we’ve shared practical tips to improve your online targeting, answered your top Cambridge Analytica questions, and explained what you can do to stay ahead of Facebook’s recent newsfeed changes. But we still get tons of questions from clients about how they can drive even more performance on their Facebook ad campaigns. So this time, I want to try something different. We recently worked with a national home goods chain that had a solid Facebook following, but they wanted to use social media to build more than brand awareness. They were searching for a way to use paid social ads to drive real sales, specifically in their online store. With all the buzz surrounding people-based marketing, we knew it could improve their paid social strategy and prove Facebook ads really work. Because this Facebook ad campaign was so widely successful – bringing in over $1.2 million in revenue in a single month at the peak of the campaign – I want to share some of the key takeaways from our experience that you can actually implement on your next Facebook ad campaign. Don’t Forget to Layer On Your First-Party Data Segments Nothing is more powerful than your own customer data. Yet, many advertisers abandon their first-party customer data when building their social media marketing strategy. Facebook ads are cost-effective and the targeting options are so diverse that many marketers simply forget to layer on their most meaningful data. But with people-based marketing, you can import your CRM, mobile app users, or other first-party data segments to target them on social media across all of their devices, increasing your precision and efficiency. Not surprisingly, we recommended combining Facebook targeting with people-based marketing strategies to ensure our home goods client reached high-interest prospects. The Facebook ad campaign targeted home organization interest groups with above average household incomes and a custom audience segment comprised of first-party data anonymized and imported into Facebook for retargeting. The custom audience segment featured the brand’s top 30% of spenders, meaning those who have shown high conversion rates in the past. Tapping into these high-value spenders from their own data proved successful and produced a $5 higher ROAS than the general interest groups. Use Look-alikes to Expand Your Social Prospecting Pool Look-alikes are people who share the same interests, demographics, and behaviors as your best customers, in other other words, a custom audience of users that have shared traits as those in your CRM list. Building look-alike audiences off your current customers is a great way to expand your prospecting pool because you can reach new people who have a higher likelihood of being interested in your products since they are just like the audience that already is. Because the resulting look-alike audience is based on the CRM segment you create, it’s important to think strategically about which factors to include. The objective is to uncover your audience segments that are most relevant for your Facebook ad campaign goals. For our home goods client, we focused on traits from the brand’s top 30% of spenders for the look-alike modeling within Facebook since our goal was to drive purchases. Think Beyond Brand Awareness and Set ROAS Goals There are a lot of metrics companies like to use to determine a paid social media campaign’s success, but most center around driving brand awareness – reach, new followers, likes, etc. These metrics are important, but when it comes to e-commerce, nothing beats return on ad spend (ROAS). ROAS gives a quick look into whether certain types of ads or audiences are worth the money that is spent on them by tracking the actual revenue generated from advertising dollars. Typically, we do this by placing a revenue pixel on a site’s purchase confirmation page. Once activated, the pixel passes the exact amount spent back to Facebook, making it easy to attribute sales to the correct ad or audience source. What’s more, we can use that information to better optimize performance mid-flight and amplify the campaign’s success. For instance, our analysts saw that shopping cart abandoners produced the highest ROAS for our home goods Facebook ad campaign, so they shifted more budget to that group in the latter months of the campaign and drove even better ad performance. Ultimately, the Facebook ad campaign delivered impressive results — culminating with every $1 spent on advertising bringing in an average $34.70 in sales. If you want to get results like these, it’s important to leverage people-based marketing across all of your advertising channels, including your social media strategy. Remember, you can continue to get proven strategies and practical advice on how to keep your ad campaigns ahead of the competition by subscribing to our blog or following us on social media.
Have you ever been followed across the Internet by an ad after you looked up a product online? This phenomenon highlights the power of pixel tracking. Pixel tracking is one of the primary ways marketers identify people who visited their website to retarget them with ads in the future, but explaining to clients how it happens is complicated. Before you pull up a lengthy PowerPoint deck and flowchart, consider a faster way to show them how pixel tracking works. In under nine minutes, our latest video explains what a pixel is, how it works and why it can impact campaign success. Watch now: No time to watch? Get the CliffsNotes here: Terms to Know Cookie: This is a piece of code saved in your browser that websites use to help identify you from the millions of other people checking out that same website. Pixel: This is a piece of code companies add onto their website that places a cookie on the browser of anyone who completes a certain action, like visiting a product page or watching a product demo. Container Tag: This is a tool to add lots of different types of pixels onto a website with one piece of code. Pixel Tracking Uses Conversion Tracking: A pixel fires when a visitor takes a specific action, like adding a product to their shopping cart, looking up in-store hours, or getting directions to a specific store location. This helps you track the number of users who converted. Retargeting: Pixels placed on specific pages allow you to group visitors by interest or product. Then, you can set up a retargeting campaign and advertise to those specific users with more relevant messaging and creative. Why It Matters There are three primary benefits to using pixels: 1. Capture customer behaviors – If someone clicks on your ad, you can track where they go on your site after the landing page. 2. Enhance campaign optimization – Knowing which elements of your media plan are working best means you can optimize toward them. 3. Maximize your media spend – Pixels let you analyze everything on a cost-per or conversion-rate basis so you know where your media is making the biggest impact. Remember, pixel tracking is just one part of a successful digital campaign. If you still have questions, we’re here to help you recognize and reach your customers everywhere.
At Goodway Group, we know the tireless effort that goes into being a mom — especially working moms. This Mother’s Day, we’re taking a moment to thank all the #GoodwayMoms who are raising the bar for women in tech and raising a family. Pass the tissues because this Mother’s Day video is for you: Seventy-five percent of our company is female, which isn’t surprising since over half of women in the U.S. have a job, according to the Department of Labor. But what is surprising is that we’re in the technology industry, where women are often outnumbered by men. That’s not the case at Goodway Group because we’re a company that believes family values should be at the core of how we hire the best people, regardless of gender. Every day is a good day to thank your mom for everything she’s done for you and to thank all the working moms at Goodway Group for all they accomplish. Use #GoodwayMoms to show your praise for the women who have impacted your life and share our Mother’s Day video on Twitter, Facebook and LinkedIn. *This post was originally published on 5/8/17 but has been revised and updated for accuracy.
Our COO Jay Friedman explains how dealers can make the most of their digital marketing today in this WardsAuto article.
In this Adweek article, our COO Jay Friedman talks about how agencies can quit the media centralization/decentralization cycle and prolong their in-housing or outsourcing efforts, no matter which camp they currently fall in.