Finding a Better Approach
The first step in adopting a more meaningful and actionable approach to measurement is realizing that we've created proxies for measurement and rely on metrics that aren't indicative of real impact. It doesn't matter if someone clicks on an ad for a car -- what matters most is that the consumer is driving that car down the highway a few days later. As an industry, we need to demand visibility into and measurement of the consumer journey. We need to leverage campaign data to answer the important questions, in real time. Does the message resonate? Have we targeted the right audience? Is our campaign converting into actual sales? Clicks are nice to have, but conversion is what counts.
Providing a Comprehensive, Omnichannel Perspective
In order to deliver the best possible results for clients, marketers need a holistic view of the consumer, both online and off. Consider, for example, a consumer who learns about a product from an online ad, uses Google to find a review, gets a reminder via a Facebook post, then buys the product during an unrelated excursion at the mall. This is how human beings behave, but can a digital conversion analysis capture and explain the entire journey? Bottom line: can we attribute the sale?
The competitive edge will go to companies that are able to connect all of the pieces of the puzzle to provide cross-channel campaign and audience analytics, data streams from multiple sources, and package all of that disparate information into a single platform that provides marketers with comprehensive, actionable insights. Solutions providers such as Neustar's Aggregate Knowledge now make it possible for marketers to track and measure performance across all channels to make real-time media buying decisions.
Evolving in Real-Time
Agencies, brands and marketers now have the ability to more effectively plan, target, engage and measure both offline and online campaigns in one dashboard. This improved real-time visibility allows them to better define target audiences, allocate media spend across channels and implement the most effective messaging and creative.
As the market continues to evolve, so must we. We build on the need for adaptability with data, and we understand that at the end of the day, key decision-makers need a full analysis that is informative, comprehensive and measurable against other operating metrics. For their part, forward-thinking agencies have certainly gotten the message. Omnicom Media Group just unveiled an agency-wide Data Management Platform (DMP) that offers campaign performance reporting and audience targeting capabilities in a single global view, and we're privileged to say that Neustar's Aggregate Knowledge service is powering this bold move.
With access to new technology and data sets unlocking unprecedented insight into consumer behavior on a daily basis, it's important for marketers not to lose sight of the metrics most relevant to their success. It may seem like a daunting task at first glance, but by sifting through the noise and measuring what matters, marketers will come one step closer to truly knowing what drives their target consumer and get the maximum return on investment for every dollar.