Nobody should be surprised that the powerhouse Google is increasingly focused on amassing data from people who interact with its ads. The firm announced during its 2017 Google Marketing Next event that it had a new plan to track down purchase transactions, in an effort to link in-store purchases to people who interacted with online advertisements. The company named the new free tool “Google Attribution.” Now it will be possible for marketers to better understand consumer behaviors.
Information provided in the Google Marketing Next event indicates that the company captures nearly 70% of credit and debit card transactions in the U.S. All tracking will only be conducted when a shopper is logged into a Google web service on his or her smartphone or tablet, and then matched with their collective purchase on a debit or credit card. All credit and debit card purchase information has been provided to Google through strategic partnerships. The video platform YouTube will be the first Google owned platform to leverage to tool, allowing advertisers to track and measure how frequently an individual video resulted in a purchase.
The measurement of ad efficacy is well-intentioned but numerous observers have spoken out regarding the privacy implications associated with Google maintaining access to data for billions of credit card transactions. To counter most of privacy concerns, the company explained that all partners will only grant data to spending data, not information like actual products purchased by a tracked consumer. Representatives also informed interested advertises that unique encryption technology ensure that user data remains secure and anonymous. It is still too early to determine if Google safeguards will allay fears that the corporation is collecting too much information.
For Google Attribution to have an affirmative impact for a marketer it will need to allow a team to connect the dots between immediate shopping behaviors and promote an increasingly targeted campaign. Initial field reports indicate that the free tool is living up to its reputation, but the proof will be in sustained results!
June 21, 2017