DDA (Data Driven Attribution) is not DOA (Dead On Arrival): The best things start in beta, and YouTube’s analytics upgrade is no different. YouTube is transitioning from its current analytic analysis to the data-driven attribution model, which Google Ads have been running.
Who’s excited to be the lab rats for the beta version?!
Before we get into that, here’s a peek at what’s to come:
- Online classes, business meetings, and now ticketed events will all be hosted on Zoom
- Sadly, there will be no vaccine for the skewed marketing data coming out of Q3
- It’s been 48 years since the last human visited the moon, now Nokia is installing 4G
Millennials, This One’s For You: Podcasts are popping off and we have a new recommendation: The Marketing Millennials. And what better episode to start with than their recent interview with The Coolest Cool, Ross Simmonds? (Preview: the reasoning behind his social media @handle is revealed.)
YouTube Ads are Granting Conversion Connections
We have preached C.R.E.A.M (Content Rules Everything Around Me) which turned into D.R.E.A.M (Distribution Rules Everything Around Me) but maybe it’s time we admit it – G.R.E.A.M (Google rules everything around me). Shout out to the Wu!
Being launched in beta, Google is bringing data-driven attribution (DDA), formerly known as search attribution, to YouTube.
What we know – about data-driven attribution from its time in Google Ads
- Google Ads had been running this program under an alias – Search Attribution
- DDA relies on data and requires at least 15,000 ad interactions (across supported networks) and conversion must occur at least 600 times within 30 days
- It delivers a detailed report on your ads’ performance and connection to conversion
- Credit is given to different ads, clicks, and factors that play a role in conversions – aiding your ability to invest in the most profitable channels.
Remember having to carry that one slacker in every group project, and getting frustrated when they got a share in your success?
That’s how your top-performing YouTube ads have felt.
Currently, there is limited separation between which ad leads to what conversion off YouTube, you simply see the report as is – but which ad is doing most of the work 🤷♂️?
DDA’s primary goal is to answer that question, by crafting a better picture of how online audiences are interacting with different types of ads. Going deeper: DDA follows the user’s journey from a specific ad view through to conversion.
It wouldn’t be 2020 without a touch of AI. DDA is modelled on a machine learning-based approach, helping to generate accurate results accounting for the latest changes in consumer behaviour.
Ready to be a lab rat? Eligible advertisers can opt-in through the Tools > Measurements > Attribution sector of Google Ads.
On top of this excitement, John Chen of Google let it slip that display ads are going to be rolled out to attribution reports in the coming months – stayed tuned for even more detailed ad reports.
- Your ad dollars are going to be directed to the right channels as credit is given to high performing ads.
- YouTube will be better understood from the ad buying perspective
- Google isn’t slowing down anytime soon in ad tracking innovation
Online Events Aren’t Just For Ted Talks Anymore
OnZoom is here to compete with the likes of Masterclass, Lynda (Microsoft), Skillshare, Eventbrite, etc. in the online event and education hosting industry.
Offering monetized event hosting, without taking any cut of the profits, companies and individuals are able to run events that will be accessible through tickets only. Which allows for premium content to be shared at a premium price and for educational courses to run for a fee.
As we remain active in COVID-19 precautions, trade shows and conferences will not be happening any time soon – at least not in the same capacity. OnZoom is offering a solution to this, as companies can sponsor and host events that were previously running in person.
OnZoom removes capacity limits, depending on which plan you purchase, and allows for event attendance segmentation, offering ticket sales to certain segmented email lists, and promoting certain events to specific groups.
Companies have already been turning profits and succeeding in online education – think Masterclass, Eventbrite, Skillshare, and Peloton!
- Masterclass and Skillshare have made a splash in edtech by offering online classes.
- Effectively creating the marketplace for online education before COVID caused it to be the norm.
- Eventbrite has always been an active ticket sales platform, offering concert ticket sales to live events which have now been translated into online concert ticket sales.
- They have been established as a trusted resource: given the hosting monopoly over online ticket sales.
- Since they are a ticket sales service provider, they make revenue off each ticket sale which OnZoom won’t be doing during the beta phase.
- Peloton has boosted their revenue stream by providing a subscription service to online workout classes.
- Expanding their service offerings while creating brand awareness placing them top of mind for and encouraging product sales.
- No equipment necessary. subscribers can access their workout video collection for $12.99 a month.
- Offering a connected fitness subscription to users who own a Peloton product for $39
- Peloton has roughly 3.1 million subscribers across the two services
Conferences, fitness classes, lectures and in-person training have not been able to run in the same capacity, as events have been shut down and there are limitations imposed on the amount of people per gathering. Moving these events online bypasses restrictions and increases the total addressable market for every teacher & host.
OnZoom will create an inclusive atmosphere for interested participants to attend events. Removing barriers to entry and increasing knowledge sharing from all areas of the world.
So what? OnZoom is going to open up the opportunity for companies of all sizes to partake in hosting events and creating live video content. Not only boosting revenue but also brand awareness and trust.
Video has taken over in a big way and it is here to stay. Consider running an event on OnZoom to see how it works for your brand and create a space for knowledge to be shared and education to occur while promoting your own brand in the process.
For now, OnZoom is going to be available in the US only on a beta basis, but we are excited to see where this goes. Stay tuned.
- Online classes are an excellent opportunity to increase revenue
- We can welcome back conferences, trade shows, and other events that occurred live
- Zoom will be the preferred hosting service as they aren’t taking a cut of ticket sales ATM
COVID-19 Convulating Q2 and Q3 Consumer Behaviour Stats
Now that we have discussed ways to overcome COVID-19 challenges, let’s focus on the challenges we still face.
According to a study done by Dentsu, 43% of US CMOs are struggling with determining what trends from Q2/Q3 are here to stay and which are fleeting results from COVID-19.
Here are some other takeaways from the study:
- 35% of US CMOs are working to align new and changing customer sentiments
- 52% feel unprepared for the next six to twelve months due to changing consumer behaviour
- Prepared CMOs are decreasing investments in consumer experience while increasing spending on digital marketing and e-commerce
E-Commerce & digital activation has taken off in a real way. What was predicted to take years has happened in months with store closures shifting most business online. This has caused retail locations to drop in rent prices and increased the need for operations management in warehouses.
Do these rent decreases open up the opportunity for smaller businesses to relocate to desired locations that typically carry a high rent price?
It’s hard to say what the future holds, but prepared CMOs are standing by digital marketing and e-commerce as the trends to focus on.
We recommend focusing on the data from a human perspective, don’t trust the numbers as they are – make sure to put them in perspective.
Good News: 45% of those surveyed said they are expecting bigger marketing budgets for the next 12 months.
- Trends are pointing to an increase spend in digital marketing and e-commerce
- COVID-19 has caused consumer data to be skewed
- Focus on what the data means instead of relying on the numbers alone
OTHER NEWS OF THE WEEK:
💪 With gyms requiring appointments, the future of fitness is all about at home workouts. Lucas Mattney identifies this in “Future raises $24M Series B for its $150/mo workout coaching app amid at-home fitness boom”
📻 Podcasts are taking over as radio for the 21st century – at least that is what Sirius XM seems to think. Read about it in “Stitcher’s Podcast Arrival on Pandora with Acquisition’s Completion”, reported by Sarah Perez
💥 Zoom, Zip, Zap; Zapps is now integrated with Zoom to create an all-inclusive platform. Larry Dignan covers how “Zoom launches Zapps, OnZoom as it builds out its ecosystem for developers and content creators”
BRAIN FOOD OF THE WEEK:
After 48 years, NASA is heading back to the moon. As 5G technology rolls out on planet Earth, Nokia has been awarded the contract to bring 4G to the moon.
And no, this isn’t NASA’s way of bringing cellphones to the extra-terrestrials. 👽 They are doing it in preparation for their Artemis mission in 2028.
Not only is this news exciting for all of us Space-obsessed earthlings, it is a unique case study on brand expansion. After the famously indestructible Nokia 3310, Nokia went quietly into the network hardware and software side of things, and now they are back in a big way! Marcus Weldon highlights this best in a recent press release:
“By building the first high performance wireless network solution on the Moon, Nokia Bell Labs is once again planting the flag for pioneering innovation beyond the conventional limits.”
TWITTER THREAD OF THE WEEK:
ALBUM OF THE WEEK:
Frank Ocean – Blonde (Best Track: Chanel)
MUSING OF THE WEEK:
Not to get too political here, but our hometown just had a local election that saw eight women be elected into councillor roles out of the sixteen seats up for re-election.
Marketing perspective: Running consumer-based polls is a great avenue for consumer research – get them to vote on new ideas and potential pain points.
Takeaway: People want to see more women in power.
Originally Sent Out Thursday, October 22, 2020. Stay up to date with all of our latest findings by subscribing to our newsletter today.
Quick, do it now before the next Thursday drop!