The Scoop: Source-of-Truth Data
Jan 28, 2020
What is source-of-truth data?
Your brand’s source of truth is whichever dataset/system you use as the basis for defining the success of your marketing campaigns. It could be online or offline data, including anything from website activity measured by platforms like Google or Adobe to proprietary systems that capture in-store sales or other events. Optimizing against a source of truth is key to tying your marketing efforts directly to your business outcomes.
Why should I have a single source of truth?
There are two main reasons to have a single source of truth for defining success across channels and campaigns.
- Success metrics within specific channels aren’t always easily correlated across channels. A campaign may seem successful on one channel as compared to the other campaigns on that channel, but if, for example, conversions are measured one way in one channel and differently in another, it can be difficult to evaluate performance across closed ecosystems without a consistent definition.
- Media metrics available within digital channels don’t give a full picture of performance. The best way to truly understand a campaign’s impact is to use metrics based on business outcomes in conjunction with media metrics that allow for campaign optimization. By evaluating performance based on a single source of truth rooted in business outcomes as well as media metrics, you can see how individual campaigns impact your business as well as how campaigns across channels compare in efficiency and effectiveness.
How do I leverage source-of-truth data?
Source-of-truth data can be used as the basis for Global Custom Metrics across channels, but the specific way you leverage them will depend on the type of data you’re using and the insights you’re looking to gain. A few examples of ways 4C clients have leveraged source-of-truth data include:
- A high-end appliances brand used their source of truth — metrics like sessions, clicks, and transactions from Google Analytics data — in conjunction with cross-platform social custom metrics to gain a better understanding of the value of ads across channels.
- A retailer integrated its source-of-truth, first-party revenue data, through Social BYOD Feeds in Scope by 4C™ and leveraged ad-level UTMs to optimize campaigns in real time for a better understanding of ROAS. The brand also saved hours of time in reporting since the direct integration meant analysts didn’t have to waste time matching back data.
- An Insurance company was able to quickly derive insights for individual lines of business by leveraging its source-of truth, third-party attribution data from Facebook, in Scope by 4C’s Global Report Center and Performance Dashboard. This integration allows the team to save time in evaluating performance across channels and lines of business.
Reach out to your 4C rep or contact us to learn more about integrating your source of truth into Scope by 4C.