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BizReport : Loyalty Marketing : November 26, 2021

Three trends to watch in 2022

Strategizing the best ROI for your business has never been harder. With consumers distracted by multiple screens, supply chain disruptions, ongoing fears about the global pandemic, it is hard for the most experienced of experts to predict how 2022 will shake out. These three trends may help your business build a better 2022.

by Kristina Knight

First, privacy priorities.

According to many experts consumer privacy will continue to be a big issue for businesses, but one key remains with customer education. Businesses have to be transparent about the data they collect and use, and must begin now developing a post-cookie strategy.

"Apple enacted eve more restrictive privacy updates to its mobile operating system. Users of iOS 14.5 have to deliberately opt in to sharing their unique Identifier for Advertisers (IDFA) with apps," said Peter Mahoney, CEO, Plannuh. " This kind of technology is foundational to digital marketing and the delivery of highly personalized ads. If users choose to opt out, it will limit the way users are tracked and reached with marketing messages, which will significantly dilute the effectiveness of digital marketing."

Second, changes in marketing measurement.

While clicks and leads continue to have a place in the marketing realm, Mahoney believes changes like the death of the cookie will make more relevant - and identifying - measurement options key for 2022.

"Marketing will start measuring true business value in the form of cost-per-outcome, return on investment, and lifetime value," said Mahoney. "Clicks, influence, and leads are outdated and incomplete forms of marketing performance measurement. Marketers will start to demand ROI based measurement to determine the true business value of their marketing efforts and start to speak the same language as the rest of the company."

According to Mahoney attribution models will fall off the radar in the New Year.

Third, look for the CMO to log out.

CMOs have some of the shortest tenures in the C-Suite, with most averaging less than two years in place. This, says Mahoney, is one reason CMOs may not last through '22.

"CMOs are not basing their marketing goals on company objectives and are therefore out of sync with the rest of the organization and relegated to conducting busy work marketing. [About] 40% of marketers do little to no work basing their marketing goals on company goals (Plannuh's Operational Marketing Index Data). They have not built solid plans that are agile and have trouble adapting after changes occur (Plannuh's Operational Marketing Index Data):

• 72% do little to no scenario planning to prepare for internal and external changes
• 56% don't have a repeatable process in place to adapt once the changes occur
• They can't prove the true value of their marketing based on return (Plannuh's Operational Marketing Index Data)
• 52% have difficulty measuring the true value of their marketing in terms of ROI.

"We continue to be alarmed that so few marketing teams focus on strategic alignment of their plans," said Mahoney. "The latest results from the Operational Marketing Index survey revealed that less than one in five marketers report that their companies excel at connecting their plans to corporate objectives, which explains why so many marketing teams struggle to show the value of their marketing investments."

Tags: customer privacy, ecommerce, ecommerce trends, marketing measurement trends, marketing roi trends, Plannuh, privacy trends

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