The following is the first in a series of interviews conducted with OptiMine CTO Rob Cooley. In this series we will dive deep into one of the biggest challenges facing advertisers today; measuring the cross-channel value of their digital ads. Each installment will focus on a different aspect of the issue and include Rob's insight and analysis. In our first interview, we layed the foundation through a discussion of the importance of measuring cross-channel value. Rob also offered two ways advertisers can think about the problem--indirect marketing & direct marketing--both of which are rooted in traditional, offline, advertising strategies. To be sure, online advertising is a different beast, with characterisitics that fit in both paradigms and Rob explores both in this segment.
Q: How does OptiMine define cross-channel value?
A: What we’re really after is cross-ad value.
Early funnel ads such as display, Facebook, and other social ads do not generate many direct conversions. On the rare occasions when there is a click that results in a conversion, measuring that value is very easy. What is more difficult to measure is the effect upper funnel ad impressions have on the conversion performance of lower funnel ads such as search and retargeting.
But the impact of one on another does not always happen across channels. In fact, intra-channel effects are not unheard of, so what we’re really measuring is cross-ad value.
Note: For the purposes of this post, the terms cross-platform and cross-channel are used interchangeably.
It’s a bit early, but attribution—specifically cross-channel attribution—just might be the topic of discussion in 2014. Advertisers have been fighting the battle for a while, but things are starting to get serious with the dizzying pace of channel proliferation and ROI accountability on the rise. Attribution is a place many advertisers have turned to track users from channel to channel as they engage with their brand, and to look for insights to help them decide where and how much to spend. Regardless of what advertisers ask from attribution, it struggles to provide the answers.
A recent report from eMarketer, “Cross-Platform Attribution: A Status Report on Overcoming Select Attribution Challenges,” clarifies the issues preventing attribution from delivering on its promise: measuring the cross-channel value of digital ads.
OptiMine CEO Jim Moar is featured in the report, along with several other industry experts, offering his insight into why attribution is flawed with respect to measuring ad value.
Editor's note: Today's guest post was written by Anne Perkins Optimizing your digital strategy is an important task for any organization today. However, when you’re in a highly competitive industry and need to stay ahead of the curve, it is essential to partner with subject matter experts. QuickQuid , a leader in online consumer lending, did just that — partnering with OptiMine to establish overarching digital marketing objectives. Optimine’s business approach, thought leadership and disciplined models have helped QuickQuid execute on its goals, while still maintaining an ideal budget.
It was a great webinar featuring Forrester Research analyst Tina Moffett and OptiMine CTO and co-founder Rob Cooley. Together they delivered insights and actionable information you can use to drive real value from digitaladvertising using attribution measurement, and cross-channel measurement and optimization. If you missed it live, you can access the recording here.
Marketers have always known that display (i.e. brand) advertising influences paid search and, ultimately, revenue. The missing link has always been the proof. As if on cue, here comes Harvard Business School with a new study, "Do Display Ads Influence Search?", that begins to make the link. But the report doesn't stop at making the connection, it also goes on to discuss the magnitude of the effect and what it means for future budget allocation. And that, my friends, is the core of the issue.
INNOVATION WILL PAVE THE WAY FOR A COOKIE-FREE WORLD
It’s Girl Scout Cookie season and we’ve had our share of Thin Mints and Dulche de Leches. But another type of cookie – the third-party cookie – is in the news of late, and the battle brewing around it is bringing renewed attention to the issue of Internet privacy and how much tracking is too much
By now you've heard Mozilla's announcement to set the cookie default to "block" in the release of Firefox 22. With the current version sitting at number 19 it may be a while, but the end is nigh for 3rd party cookies. Looking for response from the industry ADOTAS reached out to OptiMine today and asked CTO Rob Cooley what he thought the impact would be. You can read his entire answer here, or go with the pasted text below, but the gist is that attention-based advertising has always struggled because it is difficult to place a real value on it using cookies alone. Add the explosion of multi-device usage and the change to Firefox will only only make the problem worse. So, what's an advertiser to do? Look to impressions: