ADOTAS – The Holy Grail that any marketer seeks is a simple one: Figure out where to spend advertising dollars to drive the best performance. Truth be told, for brands advertising in the online world, this is no longer just a pipe dream.
Online marketers are now able to accurately and confidently determine exactly where, when and how to spend their ad dollars to achieve the desired results. They’re in this unique position (when compared to their traditional offline marketing brethren) for two simple reasons.
First, online marketers can now easily track and capture all of the raw data on how their campaigns are performing. This includes granular media events, such as the actual ads users viewed or the conversions that happened. Incorporating viewability into attribution results is great step in right direction: Ads that are never seen shouldn’t get conversion credit.
But access to the data is just the beginning. Online advertisers are also beginning to use sophisticated technology and machine-learning, such as attribution and optimization, to process and analyze their campaign data in order to pinpoint the actual credit each site, ad creative or channel should be given for driving conversions.
The most exciting part of this pivotal moment in ad campaign measurement may not be that online advertisers are close to achieving their goal of precise and near-real time ad measurement. Rather, it could be the impact that online measurement will have on the offline advertising world.
Traditionally, offline marketers in the TV, print and radio world have relied on measurement techniques that use data sampling and, some would argue, a lot of guesswork. Today, marketers are starting to find ways to ingest data from their offline campaigns to better understand the impact these efforts are having on their online conversions. The result is a clearer picture of the true value traditional offline advertising offers to brands.
Let’s take the simple example of a brand that does a lot of online marketing to drive e-commerce transactions. One day, the company decides to augment its online campaigns with TV spots run during a popular weekly sitcom. By understanding the past history of its online campaign performance and knowing when the new TV spots will run, the e-commerce company can very accurately measure the “halo effect” or additional lift the TV spots are having on conversions. This even includes determining the specific credit those TV ads deserve in driving resulting online actions and conversions.
Whether you live in the world of traditional advertising or you are working on the latest mobile ad campaign, the good news for all marketers is we stand to benefit greatly from bringing online and offline media together. Understanding trends and the influence that offline events have on online conversions makes your ad investment strategies much more accurate and valuable to your organization. It’s bringing us all that much closer to a time when we all will know exactly when,where and how much to spend to achieve our specific goals. And that is a good thing for every marketer.