Facing the imminent changes that will soon be seen in the most important digital analytics platform, Multiplica and Google gave an interesting talk to discuss this migration and the best way to take data analytics to a new level.
On June 22nd, Ricardo Najera, Solutions Specialist Manager at Google and Richard Johnson, Global Knowledge leader at Multiplica, gave an interesting talk in which they shared how to take advantage of advanced analytics to better understand customer behavior and make better business decisions.
Digital identity as a compass for Marketing initiatives
Currently, brands use different methods of identification to reach their users through First Party cookies and Third Party cookies, this allows companies to have a traceability system to identify users and thus brands can implement remarketing strategies, measure campaigns or perform attribution models in order to generate a better relationship with their customers and users.
However, we are facing a society that is increasingly aware of its privacy and the care of its personal information.
For this reason, from 2023 Google will disable third-party cookies, which will cause more than 95% of web users to cease to be identified, marking a before and after in the management and analysis of company data.
Regulatory framework for a cookieless world
Regulation plays an important role, as every day there are more and more initiatives around the world to protect user data, thus, transparency, user value and consent have to be a priority when designing any digital product so as to guarantee user data privacy.
A common myth has been established that the term cookieless means a world completely cookie-free, but in reality it means the disappearance of Third party cookies only, so that First party data becomes relevant.
“What is relevant for organizations is to start moving towards a First Party data strategy in which the most important asset of brands is the relationship with their customers and all the interactions that occur on a day-to-day basis; thus leaving usable footprints for more relevant and effective communication.” Richard Johnson, Global Knowledge leader at Multiplica
First party data serving marketing initiatives
First party data consists of the data that the company can capture in different contexts such as: call center, CRM, email, point of sale, apps, social media and all that is known as the Customer Data Hub (CDH) and that will allow companies to gather the different footprints to integrate them and generate a 360-degree view of users and group them according to their attributes based on the interactions they have had with the brand.
As part of a data driven strategy, organizations must be able to gather and standardize the various digital footprints of users, giving them meaning and attributes to create a profile of their users and customers.
With this data, companies will be able to perform data transformation and modeling allowing them to generate additional, more intelligent user classification, thus increasing the likelihood of more conversions in less time, and they will be able to personalize their messages to determine which products or services are appropriate for a more relevant user experience.
All of the above will allow companies to reach a third stage in which they can integrate and activate actions in the multiple channels in which the brand interacts with users, allowing them to cope with the impacts and changes in traceability that may arise.
The benefits of a successful implementation of a First party data strategy report that the greater the integration, the more companies will see significant increases in both revenue and efficiency.
The future of analytics for all clients
The emergence of the new GA4 platform is based on two main areas:
- Government regulations to guard the privacy of all users to make the Internet a safer place for everyone.
- Identification of the different touch points to know the users’ journey and to know the interaction points with the brands.
Ricardo Najera, Solutions Specialist Manager at Google, points out that the benefits that brands will have when they start working on this new platform are based on 4 main pillars, which are:
- Scalability: By integrating the web and app part within the same google analytics application, it will be possible to obtain a greater amount of data from both.
- Durability: It has to do with regulations and user privacy in the face of current regulations, seeking that each project is 100% aligned with the regulations and over time complies with the different legal criteria so that it can continue to operate in a correct manner.
- More valuable and intelligent information: Through machine learning the algorithm will be able to learn from users’ different journeys in order to make predictive analyses of what might happen based on their behavior.
- Business Impact: GA4 integrations within the application along with other metrics will be integrated in the free version. This will help to achieve integration with other data to generate a greater impact on the business that will allow the data that companies currently have, can be activated in other platforms, such as Salesforce.
All of the above, looking out for companies to have better data that provide greater value to the business, with a focus based on privacy and on the different touch points that the user has with the brand.
How to approach GA4 for business?
The objective of this change is to be able to obtain greater benefits from data and work better with digital analytics, starting by evaluating business objectives and then moving down to marketing, media and campaign objectives.
GA4 focuses on secure data collection, creating insights through machine learning engines and generating audiences and bidding to cover privacy aspects so that audiences are very specific depending on where users are reaching.
To conclude the presentation, experts shared some examples of the use and application of GA4 according to business objectives focused on CPG, Automotive, Retail, Gaming and Travel companies.