Measurement drives the success of digital ad performance
Ad measurement is essential in media buying optimization and planning, yet the competition in this space is ever-increasing. With the rise of cross-screen solutions, the digital advertising industry has seen a surge in the need for standard ad measurement to measure digital ad performance accurately.
Unfortunately, the current statistics show that only 50% of US advertisers are satisfied with the different types of ad measurement, and only 38% are satisfied with the results of digital video ad measurement solutions.
These statistics demonstrate advertisers’ challenges in obtaining common standards to measure ad performance. As a result, advertisers need to stop compromising on the measurement of advertising campaigns and instead use it to drive their businesses.
Jeff Greenfield is the CEO at Provalytics and an entrepreneur with three decades of strategic growth and marketing experience, building and leading teams with an emphasis on innovative marketing enabled by new technology. Jeff has spoken at several conferences and has grown his team to 55 with 171% year-over-year growth, leading the company to be named to Deloitte’s 2018 Technology Fast 500.
Jeff’s technical innovations include real-time digital viewability measurement, integrated linear and OT television measurement, and creating a cookieless identifier. His journey to becoming an entrepreneur began when he was a chiropractor and injured a nerve in his arm from a car accident. This led him to the digital space and managing media for clients, which led him to the question of how to tell who won the conversion. This led to the development of C3 metrics and eventually to Provalytics.
The importance of measurement in driving success must be considered. While obtaining common standards to measure ad performance can be challenging, advertisers must use measurement to drive their businesses. Measurement is the key to understanding how campaigns are performing, and advertisers need to utilize this information to make informed decisions and optimize their campaigns for success.
Stay consistent in messaging.
However, in today’s digital world, there is more to success than just measuring clicks and impressions. Businesses must stay consistent in their messaging across all channels to ensure success.
According to an expert in the field, companies must decide who and what they are and stay on message. This means businesses should ensure that their message is consistent across all channels, including their website, Twitter, LinkedIn, Facebook, and press releases.
This is because potential customers will likely check out a business’s online presence before purchasing. If the message is inconsistent across channels, potential customers may not get a good feeling about the company and decide against purchasing. By staying consistent in messaging, businesses can ensure that potential customers will have a positive impression of the company and be more likely to purchase.
Additionally, staying consistent in messaging is essential for businesses to build and maintain customer relationships. Customers are more likely to trust a business with a consistent message. Furthermore, staying consistent in messaging helps businesses build trust with their customers, as customers can rely on the company to provide consistent information and services.
Consistent messaging is essential for businesses to succeed in today’s digital world. Measurement is essential for businesses to understand how their campaigns are performing, but it is also important to ensure that their message is consistent across all channels. By staying consistent in messaging, businesses can ensure that potential customers will have a positive impression of the company and be more likely to purchase and build and maintain relationships with their customers.
Brand for trust and emotion.
Brand building is an important part of any business’s success. It’s not just about creating a logo or tagline but also a message that resonates with potential customers. Therefore, companies must create a purpose-driven brand that speaks to their values and mission. This will help companies stand out from their competitors and build a trusting relationship with their customers.
In addition to creating a purpose-driven brand, companies should also focus on creating an emotional connection with their customers. This can be done by creating ads or campaigns that evoke an emotional response from customers. Companies should also focus on creating an experience customers can relate to and remember. This emotional connection will help customers build trust and loyalty to the brand.
Companies should focus on creating a consistent message across their channels. This will help customers recognize the brand and build trust in it. Companies should also focus on elevating their brand through sponsorships and events. This will help customers recognize the brand in different settings and build a positive impression.
Creating a brand for trust and emotion is essential for businesses to succeed in today’s digital world. Companies must focus on creating a purpose-driven brand, an emotional connection with their customers, and a consistent message across all channels. As a result, companies can ensure that potential customers will have a positive impression of the company and be more likely to purchase.
Focus on the top of the funnel.
One of the most important aspects of creating a successful brand is focusing on the top of the funnel. Companies should create awareness and build relationships with potential customers before reaching the bottom of the funnel. This can be done through various channels, such as advertising, public relations, and social media. It is important to note that the top of the funnel is the most important part of the customer journey and should be given the most attention.
An example is how Airbnb handled its marketing during the pandemic. Rather than pulling back their marketing efforts, they focused on the top of the funnel and built a strong brand. They created messages that showed their customers that they were still there for them, despite the difficult times. This paid off in spades, as they could grab market share from their competitors and have not returned to their direct approach since.
Many companies need help with a problem: measuring the effectiveness of top-of-funnel marketing efforts can be challenging. It is much easier to measure the effectiveness of campaigns closer to the sale, such as retargeting campaigns. However, it is important to remember that branding has been proven to work repeatedly and can be measured.
Focusing on the top of the funnel is essential for companies to build a successful brand. Companies must create a purpose-driven brand, an emotional connection with their customers, and a consistent message across all channels. As a result, companies can ensure that potential customers will have a positive impression of the company and be more likely to purchase.
AI powers advanced marketing insights.
AI is increasingly important in helping companies gain insights into their customers and their marketing efforts. AI powers advanced marketing insights by providing companies with more accurate data and more sophisticated models to analyze the data.
For example, AI can track customer journeys across multiple channels, identify patterns in customer behavior, and determine the most effective channels for reaching potential customers. AI can also measure the impact of marketing campaigns and analyze the effectiveness of different marketing strategies.
AI can also help companies optimize their marketing efforts by providing insights into which channels are most effective for reaching customers. AI can recommend the most effective channels and strategies for reaching potential customers by analyzing customer data. AI can also help companies understand how customers interact with their products and services and what factors influence their purchasing decisions.
Use statistical models to predict.
One of the most powerful tools for AI-based marketing is using statistical models to make predictions. Statistical models use data from past campaigns and customer behavior to predict future customer behavior and the effectiveness of various marketing tactics. For example, statistical models can forecast customer demand, identify target markets, and predict customer loyalty.
By using statistical models to make predictions, companies can more accurately assess the effectiveness of their campaigns and the potential for success. Statistical models can also help companies identify customer segments more likely to respond to certain campaigns or messaging. This can help companies tailor their campaigns to reach their target audiences better.
Statistical models can also help companies identify potential growth opportunities. For example, companies can identify areas to expand their customer base and increase their market share by analyzing customer data. This can help companies increase their customer base and grow their business.
Bayesian modeling is a technique that has been used since the 1700s to make predictions. This technique uses data from past campaigns to predict future customer behavior. By using Bayesian models, companies can more accurately assess the effectiveness of their campaigns and the potential for success.
Using statistical models to make predictions is essential for companies to gain insights into their customers and marketing efforts. Companies can more accurately assess their campaigns’ effectiveness using statistical models and identify potential growth opportunities. Additionally, Bayesian modeling is a powerful tool for predicting customer behavior and making more accurate predictions. Companies can better understand their customers and their marketing strategies using these models.
Focus on data-driven decisions.
Data-driven decisions are becoming increasingly important in the business world. Companies now rely on data to guide their decisions rather than intuition or guesswork. By utilizing data-driven decisions, companies can make more informed decisions and increase their chances of success. Additionally, data-driven decisions can help companies identify areas of improvement and potential growth opportunities.
One example of a data-driven decision is the use of Google Analytics. Google Analytics gives businesses insights into website traffic, user behavior, and other metrics. This data can then be used to make more informed decisions about their marketing strategies. Additionally, Google Analytics can measure campaigns’ success and identify improvement areas.
Another example of data-driven decisions is the use of predictive analytics. Predictive analytics uses statistical models to predict customer behavior and other factors. Companies can better understand their customers and marketing strategies by using predictive analytics. Additionally, predictive analytics can help companies identify potential opportunities for growth and make more informed decisions.
Overall, data-driven decisions are becoming increasingly important in the business world. By utilizing data-driven decisions, companies can make more informed decisions and increase their chances of success. Additionally, data-driven decisions can help companies identify areas of improvement and potential growth opportunities. Finally, companies can better understand their customers and marketing strategies by using data-driven decisions.
Adopt measurement for growth.
Adopt measurement for growth is a concept that companies should consider when planning their growth strategy. Measurement is collecting, analyzing, and interpreting data to make better decisions. Measurement can help companies better understand their customers, marketing strategies, and overall performance. By adopting measurement for growth, companies can better understand their customers and their marketing strategies and identify areas of improvement and potential growth opportunities.
Adopting measurement for growth requires companies to invest in data collection and analysis tools. Companies should consider investing in tools such as analytics platforms, customer relationship management (CRM) systems, and customer feedback surveys. These tools can help companies collect and analyze customer data, marketing strategies, and overall performance. Additionally, companies should consider investing in data visualization tools, which can help them better understand their collected data.
In addition to investing in data collection and analysis tools, companies should also consider investing in people. Companies should invest in hiring data analysts and data scientists to help them better understand the data they have collected. Additionally, companies should consider investing in employee training and development programs to ensure they are up-to-date with the latest data-driven techniques.
Overall, measurement is an important part of any company’s growth strategy. By adopting measurement for growth, companies can better understand their customers, marketing strategies, and overall performance. Additionally, companies can use measurement to identify improvement areas and potential growth opportunities. Therefore companies should invest in data collection and analysis tools and people to ensure they can effectively utilize data-driven techniques.
Measurement is always changing.
As technology and customer preferences evolve, so does how companies measure their performance. Previously, companies relied heavily on third-party cookies and other data collection methods to gain insights into customer behavior. However, with the introduction of privacy regulations such as GDPR, companies have had to adjust their measurement strategies to comply with the new regulations. Additionally, browsers have begun restricting third-party cookies, further complicating the measurement process.
To stay ahead of the curve, companies must be prepared to adjust their measurement strategies as the environment changes. According to Jeff, the founder of Provalytics, it is important to “future proof” measurement platforms to ensure they can withstand environmental changes. To do this, companies should focus on measurable metrics regardless of the environment.
For example, companies should track how much money they spend, the impressions they receive, and the results of their campaigns. Additionally, companies should invest in data collection and analysis tools to effectively utilize data-driven techniques.
Overall, measurement is constantly changing. Therefore, companies must be prepared to adjust their measurement strategies to remain competitive and ensure that their data is reliable. By investing in data collection and analysis tools, companies can ensure that they can utilize data-driven techniques effectively. Additionally, companies should focus on measurable metrics regardless of the environment to future-proof their measurement platform. By following these tips, companies can ensure that their measurement strategies remain up-to-date and reliable.
Some topics we discussed include:
- Navigate the complexities of ad measurement in the face of data privacy regulations.
- Achieve a unified brand message throughout multiple channels.
- Harness the power of probabilistic modeling, AI, and machine learning for marketing success.
- Adapt effectively to the ever-evolving marketing landscape.
- Implement comprehensive marketing measurement techniques to fuel your progress.
- Overcome the hurdles of ad measurement amid stringent data privacy rules.
- Uphold a cohesive brand narrative across all communication channels.
- Utilize advanced technologies such as AI, probabilistic modeling, and machine learning to your advantage.
- Respond dynamically to constant changes in the world of marketing.
- Adopt all-encompassing strategies for marketing measurement to achieve success.
- Tackle the challenges of ad measurement under data privacy regulations.
- Maintain a consistent brand voice across various platforms.
- Leverage cutting-edge technologies like AI, machine learning, and probabilistic modeling for marketing gains.
- Stay agile in the constantly shifting marketing realm.
- Apply comprehensive marketing measurement methodologies to boost your accomplishments.
- And much, much more…
Listen to the episode
Related links and resources
- Check out Provalytics
- Check out the article – How To Use Snov.io Email Drip Campaigns To Nurture Leads
- Learn from Vin Turk – How to Tackle Lead Nurturing Campaign Challenges Backed by Data to Drive Growth
- Learn more from John Horn – Advertising Challenges: How to Overcome Them And Drive Growth Fast
- Learn from David Stellato – What is Performance Marketing and How to Use it to Drive Business Growth
- Learn from Emma Lo Russo – How to Use Digital Marketing Analytics for the Best Growth Results
- Learn from Ashley McManus – Thought Leadership Strategy: A Step by Step Guide With Examples For Growth
- Check out the article – What is Thought Leadership Marketing? A Guide to Guaranteed Growth Fast
- Check out the article – Lift-off Strategy: How to Boost Business Growth With an Empathy-Driven Content Marketing Strategy
- Check out the article – 20+ Powerful Marketing Strategies You Should Copy to Grow Your Company Fast
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