A short video of the recent panel discussion I hosted at Future of Brands. The challenge has been laid down to the industry to attribute mail effects correctly in econometric models. Get in touch if you’d like to learn more!
I realise that this is easy for me to say not being a marketing budget holder (and many businesses have much tougher decisions to make at the moment) but if you can afford it, it’s worth being reminded of the value of advertising through a recession. If you want to talk ad effectiveness or media measurement just let me know!
Next week I will be hosting a panel debate for JICMAIL on the topic of evolving econometric models to more accurately reflect the effects of ad mail. It’ll make for a fascinating discussion if that’s your sort of thing! Book you tickets here.
We have just released our “Making Sense of the Data That Matters” whitepaper (a CoLab Consulting report sponsored by Domo), covering seven key considerations for data driven publishers / media owners. From data fragementation, to the challenges of integrating multiple data assets, systems and teams – hopefully there’s plenty in there that will resonate with rev ops, insight and commercial teams alike!
Download your copy from the Domo website here: https://lnkd.in/eecuQ5e
I’m delighted that our report – The State of Brand Measurement 2019 (commissioned by On Device Research) has featured in Campaign today. As an industry we are still not measuring digital brand impact properly… despite the proven link between investing in brand research and brand health.
Download a copy of the report here and learn more about how:
1. 10% to 25% of digital campaigns are measured using brand uplift studies according to interviewees, yet there are questions as to whether the results of such research are really being applied strategically.
2. Brand research drives brand health. Brands who conduct ongoing programs of brand effectiveness research achieve more effective brand advertising.
3. Most brand effectiveness measurement is currently provided by media owners rather than commissioned directly with research companies. If the application of brand effectiveness research is to become strategic and forward-facing, focusing on objective brand metrics, then there must be a shift towards independently commissioned research.
4. Actionable learnings will transform the application of brand research. Tangible learnings related to channel, creative, frequency and audience will again shift the focus of brand research away from merely being a tool of spend justification towards something with far greater strategic value.
5. Raising awareness of optimal measurement methods is key. Agencies have an opportunity to enhance their client relationships by becoming experts in the application of digital brand measurement results.
6. In-flight brand metric optimization is in high demand. If the industry can find a way to report on brand metric shifts while a campaign is in-flight, then marketers can shift the dial on digital brand investment.
I’m delighted to have been invited to judge the DMA Awards best data and insight category next week. Good luck to all participants. Let’s see what you’ve got!
While half my working week is spent measuring digital, the other half is spent measuring offline media. Learn more JICMAIL: the media planning currency for Direct Mail and Door Drops. For more info visit www.jicmail.org.uk
Running your own consultancy is fun when you win business, and less fun when you don’t. Although with a seven-month old at home, the latter can sometimes be a blessing in disguise when you’ve overbooked yourself. Of course, losing the odd pitch or two is all part of the independent consultancy life and not something you should lose too much sleep over. One recent loss in particular has rankled however, if only because it really highlights the same old issues with the measurement of digital ad effectives that a vocal minority have been banging on about for what seems like years now:
- The issues of non-transparent / independent measurement
- A continued obsession with basic behavioural metrics that tell us nothing of real-world impact
- And a focus on measuring short term outcomes rather than long term impact
To cut a long story short, a content creation agency included as part of their pitch to a global advertiser, an overview of how I / Data Stories Consulting would provide some independent market research and analytics to report on campaign effectiveness. Although part of the agency pitch, my contact would have been directly with the client and results would have bypassed any agency filter – i.e. they would have been genuinely independent.
I was delighted for the agency when their pitch won – it was well deserved, but not least because it gave me a new interesting project to sink my teeth in to. It was rather depressing therefore, to be told a couple of weeks later that the advertiser has suddenly decided that they’d like their social agency to handle all campaign measurement. It was no fault of my content agency contacts at all, but rather a reflection of the advertiser’s attitude that social was all.
As means of distribution of course social is vital, but as a means of total campaign effectiveness measurement? I doubt it. As Keller Fay tells us, 90% of brand conversations happen offline. Quite how some social listening tools that are inevitably going to report on the usual spread of clicks, likes and shares are going to report on offline conversations, or even report on total campaign brand impact and long term ROI I don’t know.
I’ve been working with numerous brands and agencies over the past few years to help them better understand how to measure the impact of digital (summary: just like you measure the impact of offline! …kind of), and have produced measurement frameworks like the below to do just that. It’s a straw man and needs adapting for specific client needs, but it’s a useful starting point:
It’s hard not to sounds like a stuck record sometimes, but there’s a reason why the IAB had to launch a national “Don’t be a Clickhead” campaign earlier this year. Clicks, likes and shares might be useful metrics to optimise campaign delivery on, but as a measures of true campaign impact they are virtually meaningless.
Measurement isn’t easy of course, and I hear plenty of excuses as to why it’s not being done properly:
- We get CTR data in real time. How are we supposed to optimise media and creative on brand impact when survey results aren’t available for weeks after a campaign has closed? My usual answer: There are plenty of research vendors who offer real time brand uplift reporting now, enabling you to optimise performance on something far more closely related to real world impact. Attention is also a behavioural metric with some meaning – and there are plenty of scalable measurement options in this space too.
- Measuring brand and sales uplift properly is expensive! Sometimes it is for sure, but arguably a campaign which devotes 5-10% of its budget to measurement rather than media/reach is going to generate far more strategically important learnings for the business in the long run.
- We can’t link to any real world sales data: Again, there are big research and data vendors in this space who would say otherwise. Where sales data isn’t directly available, then there are a world of useful proxies you can lean on instead: for example, efficiency scores which allow you to assess the cost of each incremental purchase intender, or the use of geo-location data to look at store footfall uplifts.
The much publicised Ebiquity and Radiocentre Re-Evaluating Media report last year showed us the huge disparity between perception and reality when it comes to providing independent third party measurement. For example, agencies and brands rank digital video top for transparent measurement, whereas the evidence suggests that quite the opposite is true:
It’s one data point, but it certainly gives a hint as to why we must continue to bang the drum when it comes to reporting on digital impact properly. It’s difficult (sometimes), but that’s no excuse for not giving it a go. If you only get half way there you’re going to be doing your business many more favours than if you just regress to what’s easiest!
Founded by Ian Gibbs, Data Stories is an independent data consultancy focused on all things digital, advertising, media and publishing related. Drawing on over fifteen years of experience in market research, data analytics, digital advertising and strategic planning, Data Stories employs a broad data-driven skill set to help clients solve their business problems. Find out what clients have said about Data Stories here.
An overview of the key consumer trends and market dynamics that will shape the news and digital publishing industry this year. Produced by Data Stories for the Guardian in January 2019.
The Colab Revenue Operations Barometer has launched! Produced in collaboration with CoLab Consulting, this study of rev ops professionals from over fifty leading publishers is essential reading for media owners and ad tech vendors alike.
Key business issues and priorities for Rev Ops Leaders and Laggards are covered in depth, along with insight in to how ad tech vendors should position their solutions for different segments of the publisher market.
Order your copy here! https://lnkd.in/eA_cBih