Five Key takeaways from Google Marketing Live 2021
Google announced some key insights for the marketing world in 2021. Google Marketing Live 2021 took place on May 27, 2021. What are some of the factors or trends that would affect marketing this year and beyond? There have been some evolving trends, especially in context with the customer behaviour. Here’s a complete synopsis of the event.
Privacy will be the key driver
There’s much hoopla around privacy now. Google announced privacy-safe solutions for the advertisers and marketers, offering marketing measurements while also respecting the consent choices of users. The solutions include model conversions and machine learning as far as Google ads are associated. The marketers can continue performance optimization even in the privacy-safe model when the conversion data is not accessible.
Google said that at the end of 2021, it’ll introduce extended modelling capabilities for the reports in Google Analytics 4. This will help in better understanding of the customer journey as far as behavioral data absence is concerned. Google has made it possible for the marketers and advertisers to generate key customer insights even when a user refuses to consent to the cookies. This gives key insights while also respecting privacy preferences of customers.
Audience expansion to connected TV inventory partners
Key announcements also include YouTube. Google said that it is going to update attribution model reporting, which will give a peep into Display and YouTube touchpoints when conversion paths are seen. Later this year, one can see data-driven attribution, which will also work well for YouTube and Display. Google is going to make it possible for the advertisers and marketers to connect feed from Google Merchant Center to the video action campaigns. It is possible to show top bestsellers with the ads. This means that the marketers can show their products with the ads.
Google also announced introducing a new dynamic audio production tool so that the advertisers can create adverts with high quality audio. Audience will also be expanded to connected TV inventory partners, which will enable advertisers to effectively connect with the streamers.
Insights and Automation to make brands future-ready
Automation will continue to drive the pace of digitalization in times ahead. Google said that smart bidding in Google Ads account has become the key factor now. As many as 80% of the advertisers have started using it. There are also some key changes to the keyword match. Google has advised the marketing people to start using Responsive Search Ads alongside Smart Bidding and Broad Match keywords. Google has changed Phrase match to replace it with the Broad Match keywords.
Insights have been made more automated. To help marketers and advertisers explore new digital trends, Google built a new insight tab within Google Ads. The purpose is to help advertisers and marketers get more automated insights to explore business trends that will work.
The advertisers can now get Demand Forecasts, which will be made available in 90 days so that it gives time for campaign preparation on the basis of opportunities available.
Major changes in eCommerce
Pandemic was a catalyst of change, and the year 2020 is seen as a transformational one for the eCommerce industry. In the U.S., there was a decade’s worth of growth in the industry in a span of just 3 months. COVID-19 impact on retail sales of eCommerce shows that the sales are expected to grow exponentially and reach the $6.5 trillion mark in the next two years. The trend has also impacted media usage, with Facebook and Google bringing in new updates to marketing plans regularly. There have been new features for eCommerce space in Deals Page, Loyalty Pricing, Google Shopping, and Pricing Report in Google Merchant Center.
Driving digital experience through augmented reality
In 2020, the customers witnessed augmented reality in cosmetic and make-up products; especially eye shadow and lipstick. In 2021, Google said that AR in make-up products will also be extended to foundations and face bases. Additionally, AR clothing experience is to be rolled out to help customers see how a product fits on them.
Marketers and advertisers will see another key update from Google later this year. Business affinity attributes are coming into existence because it is observed that 71% of the customers are more likely to buy from brands where they see their values more aligned. As a result, Google expanded its Business affinity attributes to include categories like women-led, black-owned, under-represented communities, and more.