How can I track the performance of my marketing campaigns? This is the question currently facing all agencies and companies in the industry. And unfortunately, Facebook and Google have yet to provide answers. So what will happen in the future?
What has changed so far?
Apple's iOS 14 operating system with significant privacy changes was just the beginning. Facebook is discontinuing targeting options, and retargeting is being made more difficult by opt-outs or no longer works at all. The EU is now also pursuing its GDPR very consistently, causing headaches even for companies like Facebook and Amazon. By the end of 2023, Google wants to ban all third-party cookies from its browser. So it doesn't look good from a marketing perspective.
What will happen in the future?
Particularly given the further increase in online business, there is still no end in sight for digital marketing - quite the opposite: It's just getting started. New trends are emerging, and core competencies are constantly changing. We have listed below what we consider to be the biggest changes:
Automation in marketing
We are already seeing the first automation in the industry. Selecting target groups thoroughly and selectively is already no longer necessary today. Because "Broad" targeting usually delivers better results now than the interest and lookalike target groups that were previously successful.
Large advertising platforms are continuously simplifying their application through the increasing advancement in AI and increased automation of processes. As a result, Facebook and Google enable smaller companies - often without extensive marketing expertise - to run ads profitably.
Likewise, automation allows adjustments to campaigns to be made in real-time, helping large companies remain agile. Contrary to a media buyer, the algorithm can work 24/7 and does not lose track even with huge advertising budgets and countless campaigns.
Creative and Copy Creation
The core discipline of digital marketing is transforming into creating persuasive creatives and strong-selling copies. The attention span of users is getting shorter and shorter. Therefore, the customer's need must be understood even better, and the product's communication must be precisely tailored to it. Sales psychology, in particular is becoming increasingly important in this context.
Currently is a very challenging time for many marketing agencies and companies. Changing legislation and other influences are creating new trends in the industry. However, one of the biggest challenges has not been solved yet: How can I track my marketing activities and performance? But that is changing now.