This week, Facebook announced for the second time in recent months, that their methods of measurement for several KPIs of interest to advertisers were inaccurate. In response, they are re-organizing to provide more transparency for marketers. But this raises a few critical questions for brands:
In AdExchanger this week, Gartner Group’s Martin Kihn outlines the struggles of current marketing attribution platforms to accurately and effectively measure today’s complex marketing ecosystem. Read article here. In the article, he cites an in-depth research effort conducted by staff at Google and Microsoft that comes to the conclusion that click or tracking-based marketing attribution platforms simply cannot accurately measure marketing.
As the number of advertising channels continues to grow roadblocks arise for marketers when trying to measure their cross-channel marketing efforts. Because of this marketers are continuously struggling to understand the complete value of their ads and cross-channel contributions.
Many people in the technology, product management and marketing arenas are familiar with the “Agile Software Development Methodology” and perhaps you’ve even participated directly in this process. If so, you were probably part of a small team aligned to a business owner moving rapidly through “sprints” designed to create new software, mobile apps and digital experiences much more quickly than ever before and with much more fruitful business outcomes. This process works very well and it is no surprise that it is a standard approach used across many successful businesses. The question is: why hasn’t this been applied to marketing measurement?
Today’s travelers are using multiple platforms to do their travel research and plan trips - and they have many options to do so. From company websites, email promotions, social media, call centers and more, there are multiple channels for consumers to find travel information.
Last week we heard the big news that Twitter launched a new advertising network known as the “Twitter Audience Platform” which offers additional ad options to marketers and increased reach beyond the Twitter platform itself.
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.
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.