By Kerry Tracy
CEO of Working Media Group
For brands that don’t feel confident in their attribution capabilities, you’re not alone! As a recent eMarketer survey shows, most marketers are not happy with the insights they’re gathering on their campaigns.
CMOs and their agencies are under increasing scrutiny to prove that their ad dollars are driving results as well as better understand which channels, tactics, messages, etc. are working. If digital is the only way marketers measure, Google is sure to say that search is the best performing channel – because it’s the last touch point for how most people find brands and buy. But few successful marketers are running in Google alone as most understand that integrated (multi-channel) media campaigns are needed to drive awareness, consideration, and selection. Making it even more complicated to measure is the rise of on-channel sales marketers now need the ability to quantify the impact that digital is having on offline sales.
We know it’s complex but here are some things we’ve seen that may make it a little easier:
- Forest or trees. Driving a new sale is complex and there are as many paths customers can take Marketers must keep the goal (the forest) of their campaigns firmly grounded in analysis. Are we driving our prospect to a store, a phone call, or a site/landing page? How do consumers walk that path? And where do we see the media playing in that journey? It is imperative that brands work with a strategic partner that can clearly identify audiences, segment them, understand how and where they consume media, and build out the path to purchase by channel. From there, they must design media campaigns to reach audiences effectively and efficiently AND measure how well it’s performing. Hard stuff.
- The System to Collect Clean Data. Digitally driven data and analysis is still somewhat new for some brands. Many businesses are far older than the digital marketing revolution itself and their systems and processes are as well. Collecting clean and normalized data is one of the biggest challenges we (and many marketers) face. Oftenorganizations are too silo-ed and marketing does not have access to the business data or systems to capture what is needed to truly gauge performance. Withought an agile and flexible agency partner that can help collect the data, clean it, and normalize it within the confines of the clients’ current systems, you’ll continue guessing true business performance.
- Campaign or Business Performance. CTR is great for measuring the performance of creative and messaging but it can hide or distort the business performance of a campaign. Marketers are responsible for growing the number visits, clicks, engagement and leads, but if they’re not focused on business metrics (i.e., leads or sales), they’re only part way there. Marketing must strive to grow sales as the true measure of their performance. If your partner is not demanding this, change them.
Working Media Group is a strategic, data-driven agency that helps demanding clients successfully build knowledge and drive business results.