Optimize your marketing measurement strategy for 2024 and beyond
Growing your team’s authority in campaign measurement is central to its overall marketing success. Only 54% of today’s marketers claim confidence in return on investment (ROI) measurement across digital channels. From search, online, connected TV (CTV), and social media to mobile, and more—can your marketing team prove the ROI on their efforts on these channels? Check out our top measurement tactics to boost your team’s knowledge and skills to maximize the results of your campaigns.
The 6 hottest marketing measurement tactics right now
As marketers begin to look ahead to 2024, many are thinking about how best to strengthen their measurement strategies. We’ve gathered the six top trends in marketing measurement that are worth paying attention to for your upcoming campaigns.
1. Set goals that make sense for your app business
While there are specific app KPIs for every vertical, no two apps are the same. Closely examine your app’s user journey to see which KPIs you should be monitoring. Some may be more business-specific than others, and narrowing down which unique metrics you should follow could be key to growing your app's user acquisition.
Example: Monitor your custom events
The giant paint manufacturer Jazeera Paints had a mobile app for which it wished to monitor custom events to understand app usage better. These custom events included when a user selected or purchased a paint color, visited a specific brand or requested a service. By following these events with Adjust, Jazeera Paints saw an 86% increase in transactions in-app and a 28% increase in return on ad spend (ROAS).
2. Go from manual monitoring to automated smart alerts
As a growth marketer, you’re undoubtedly familiar with the often time-consuming task of monitoring your campaigns and top key performance indicators (KPIs) by scanning campaign data for an hour or more. However, with today’s Campaign Automation tools, marketers can automate this process and set up smart alerts to track key KPIs and budgets.
Benefits of smart alerts for growth marketers:
- Frees up time by monitoring multiple campaigns simultaneously for you
- Removes human error so you don’t miss crucial insights
- Spots data anomalies
- Tracks KPIs to help you optimize campaigns faster
Level up with Adjust’s smart alerts solution, Pulse
Adjust’s time- and cost-saving smart alerts solution, Pulse, provides marketers with all the benefits above and then some. For example, with Pulse, marketers can easily set customizable alerts and have them sent via Slack or email. They can also create alerts based on any time period comparison (such as comparing this Monday to the previous Monday or October 2023 to October 2022, etc.).
Marketers can also choose from templates of common alert use cases so marketers can create alerts even faster. Additionally, one of the most unique features of Pulse is its ability to utilize marketers’ historical data to show how often an alert would have been triggered in the past to visualize the usefulness of a potential alert.
Smart alert use cases
See the following real-life use cases of how marketers use Pulse to enhance their marketing measurement strategies.
Examples of how different teams can use smart alerts
Check out these real-life examples of how different teams can benefit from smart alerts from Pulse.
Development: Test updates and spot potential bugs.
- Get notifications if App B has less than 10 installs in a 24-hour period.
Product: Spot user experience issues.
- Receive a ping if the Day 7 retention rate decreases by 10% compared to the previous week.
- Get notified if the registration completion rate decreases by 50% compared to the same day one week prior.
- Create custom metric for a gaming app: If users reaching “Level 3” is less than 100 in a day.
User Acquisition: Monitor retention, budget, and fraud.
- Receive an alert when the Day 7 retention rate in LATAM increases by 30% from the previous week and installs are above 1000.
- Get an alert when the rejected install rate increases 30% over the day before.
- Be notified when the cost per registration rises above US$1.00.
Marketing: Keep track of KPIs and ensure campaigns are running smoothly.
- Get a ping when creative X hits key click-through rate (CTR) targets, such as 5,000 or 10,000.
- Receive a notification when the custom metric, “Add to Cart”, increases 30% over last week.
- Get alerted when an anomaly is detected with installs from Channel Y.
Leverage the power of marketing automation for your entire company. Always be on the lookout for tools that can jointly help marketing and your partner teams. Get more value company-wide from the tools to which you have access.
3. Don’t forget to scrutinize ad spend
Retention rates, session lengths, and engagement are all important KPIs. However, make sure to pay attention to ad spend too. As app marketers navigate the current economic downturn, likely dealing with smaller teams and budgets, there’s less money allocated to ad spend, making each dollar count all the more.
Immediately knowing which of your campaigns aren’t performing well and being able to redistribute the ad spend from these to the campaigns that are will make a significant difference in your team’s ability to grow ROI.
Example: Focus on budget efficiency
The astrology app GaneshaSpeaks needed to reduce campaigns with negative ROI and scale those with positive ROI. The app utilized Adjust’s tech stack to analyze 90-day ROI data by ad group to effectively optimize advertising campaigns. As a result, GaneshaSpeaks grew its ROAS by 25% and improved its budget efficiency by 20%.
4. Unify your measurement tools
Centralizing your marketing data was one of the five points shared by Adjust’s Chief Product Officer, Katie Madding, in her article How to stay on top of your app campaigns. Nielsen’s research further reports that multiple measurement tools could be hurting marketers’ confidence to act on the insights they receive.
As the number of channels and campaigns that marketing teams run expands, so does their need to have one place to measure, analyze, and act on their marketing data across devices. Brands need an analytics platform that provides them with clean, accurate data from all of their marketing sources to oversee multiple campaigns simultaneously.
Example 3: Unite your marketing data and measurement tools
Mobile game developer and publisher Widogame needed to review all of its attribution campaigns in one place to understand where to increase ad spend and what to optimize. The company turned to Adjust’s analytics solution, Datascape, to build custom dashboards to display all of its user acquisition data in one place. Doing so allowed Widogame to expand from one to 10 advertising channels and grow its revenue by 2,200%.
5. Don’t be afraid to dive into SKAN attribution
Understanding and being able to act on SKAdNetwork (SKAN) attribution data is a must for today’s iOS marketers. Since Apple introduced its App Tracking Transparency (ATT) framework, many marketing teams have struggled to make sense of SKAN data for their iOS campaigns. Don’t let SKAN intimidate you; partner with a mobile measurement partner (MMP) that can help you navigate SKAN by providing support in collecting and analyzing aggregated SKAN data, and employing flexible and transparent conversion value mapping.
Need a SKAdNetwork expert? Adjust is here for you!
Did you know Adjust’s SDK for SKAN 4 was first-to-market? That’s right; Adjust is the leader among MMPs for SKAN. We work hard to stay ahead of the SKAN curve so our clients can easily adapt to any changes in this area.
Whether it’s switching from SKAN 3 to SKAN 4, wanting an easy-to-implement conversion value strategy setup as offered via Adjust’s Conversion Hub—Smart setup or Advanced setup— Adjust is here to help marketers succeed in measuring and improving their iOS campaigns performance.
6. Consider media mix modeling
Media mix modeling (MMM) provides marketers with a macro-level view of marketing performance, in which marketers can ascertain if factors like seasonality, press, and out-of-home marketing efforts impact a company’s total revenue. Additionally, a major attraction of utilizing an MMM framework is that it can forecast sales and predict how successful different combinations of marketing efforts will be.
In short, marketers can get an overview of their marketing activities from an MMM and then use a mobile measurement and analytics suite like Adjust to zoom in to see how campaigns perform at a channel or creative level. Note that Adjust is developing an MMM solution as part of our next-gen solutions so marketers can have everything they need in one platform. To better understand what media mix modeling is, check out our guide on MMM.
Try Adjust’s top measurement tools and expert advice
Whether your team is new to app marketing or has been working away in the digital marketing salt mines for years, Adjust’s measurement and analytics suite can help you fortify your measuring efforts across channels and devices. With everything you need in one place, you can drive faster results with accurate, real-time measurement data to meet your business goals and scale effectively.
Our experts are also here to help you tackle a wide range of topics—from SKAdNetwork attribution to CTV advertising to Fraud Prevention. We also offer Product Think Tanks, where we collaborate with clients to evolve our products further. So, if you’d like to see Adjust in action, including Pulse’s smart alerts, request your demo now!
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