One of the most important metrics digital marketeers rely on when creating campaigns and analyzing the success of them is tracking and conversion data. This data allows you to understand the behavior of a consumer, it also gives you other information such as a demographic and geographical data. The data lets you know if a campaign has generated any results as well as it lets you understand any further needs for your products.
The conversion and tracking data are generally trailed via a pixel that lets you know if someone that clicked on your link or ad ended up purchasing your product - as well as the journey it took to get there. To be able to track said data, you have to own the landing page or at least be allowed to implement your tracking/conversion pixels on it. As a music marketeer – the options for this are limited.
Unlike a regular e-commerce, a record label relies on DSP:s such as Spotify to make our music available to consumers. Therefore, the majority of our marketing efforts is driving people into platforms that we do not control. The data provided back to the labels is many times thorough but limited to activity that happens in the DSP:S client. In other words, there is no way to attain second- or third-party tracking data; for instance, if someone streamed a song because they clicked through an ad to get there. Nor is it possible to connect fans and users from the artists homepages or social platforms to users that actually stream their music.
So how do you measure the success of marketing campaigns when conversion data is unavailable and tracking data is limited? By understanding your audience and monitoring their behavior.
Future Pulse will enable record labels to track and monitor large amounts of data as well as multiple data sources in one overview. It will combine information from artists social profiles with DSP data as well as marketing and promotional efforts. By analyzing this data and understanding how the consumer reacts to certain activities we can create campaigns specifically tailored to the consumer behavior, whether it is using specific platforms to reach them or knowing how to communicate with them through advertising. Also, we will be able to understand if the campaign activities generate any results (without access to conversion data): both short and long term. A simplified example would be understanding if a social media campaign drive streams or brand awareness, or if the audience is more prone to streaming after being exposed to a song on television for instance.
That is why analyzing and understanding your audience is key; when we know how the consumer acts and reacts, we can create specified and accurate audience profiles for our marketing campaigns. Furthermore, after monitoring their behavior over time we will also be able to predict their patterns and actions which allows us to create streamlined and effective campaigns for the future.
Snezana Saki Markovic
Playground Music Scandinavia