Measuring What Matters: Unlocking Incrementality for Business Outcomes
The shift from analog to addressable media is transforming the advertising landscape, revealing a complex array of opportunities and challenges for marketers. Our SVP of Marketing and Strategy, Stephanie Geno, along with Kris Magel, VP Head of Agency and Publisher Solutions at Samba TV, Amy Dalsan, Senior Research Manager at Spotify, and Jorge Ruiz, Global Head of Marketing Science at TikTok delved deep into these evolving dynamics at a recent Advertising Week New York panel. Here are three key takeaways shared:
- Navigating Measurement Overload:
While measurement remains a cornerstone of successful advertising, the risk of over-measuring is real and there’s a thin line between beneficial data and excessive noise. Today’s marketers have an overwhelming number of tools and datasets at their disposal. The real challenge lies in selecting the metrics that indicate whether you’ve achieved your campaign goals or those that enable you to optimize mid-campaign.
Pro tip: Start with a well-defined campaign goal and select metrics that clearly align with your desired outcome. Additionally, remember the significance of secondary metrics. For instance, while primary outcomes like ticket sales are essential, secondary metrics such as frequency thresholds or audience roles can add layers of depth to your analysis, guiding campaign optimizations effectively.
- Embracing Incrementality in Measurement:
Today’s advertising environment requires a nuanced understanding of platform contributions. It’s not just about acknowledging which channel triggered an action; it’s about recognizing how each touchpoint contributes to your overarching strategy. Incrementality acts as a lens through which marketers can identify the most impactful touchpoints, leading to smarter allocation of marketing funds.
Pro tip: Third-party data integration can offer invaluable benchmarks for your campaigns. By creating a marketing control group using this data, advertisers can accurately measure the incremental impact of their strategies.
- Leveraging Data Beyond Just Numbers:
Data should be more than just a tool – it should be the foundation for storytelling, targeting, and measurement. Data offers rich insights into audience behaviors, shopping patterns, and even potential partnership opportunities. As the media and advertising ecosystem becomes more fragmented, the key will lie in using these insights to create compelling brand stories while optimizing targeting and measurement techniques.
Pro tip: Delve into your data to understand nuances – like what are the cross-category preferences of your audience? Or what collaboration opportunities exist within the ecosystem? Recognizing and acting on these insights can be the differentiator in crafting a truly engaging campaign.
The landscape of advertising continues to evolve, challenging marketers to stay ahead of the curve. The insights from our Advertising Week panel reaffirm the industry’s trajectory towards insight-rich, outcome-centric strategies. It’s imperative marketers weave insights into their campaigns to ensure they resonate authentically with audiences and drive measurable outcomes.
Our recent partnership with Samba TV exemplifies our commitment to revolutionizing the industry. By bridging the gap between TV viewership and actual buying habits, we empower advertisers to tailor their campaigns using a distinctive blend of viewership and purchase behavior. This ensures that messages not only resonate authentically with audiences but also drive substantial outcomes. At Affinity Solutions, we see data as more than just a tool for marketers; it’s a compass guiding our strategies. With this approach, we’re poised to shape the future of impactful marketing.