Marketers are constantly pushing their own limits to go beyond what is expected, only to get their process right and to ensure that there is no demarcation, which will make their brand isolated. Today, consumers expect quality and mainly transparency while they are dealing with the brand. Study by Interactive Advertising Bureau and Winterberry Group stated that 60 percent of US Digital marketing practitioners they expect to be engaged in cross-channel measurement in the current year 2017 as compared to just 35 percent in the year 2015.
Interest in Attributed measurement is rising while an ad buying is reducing according to indications reported. More than understanding the importance of ad placement transparency and relating to the accuracy of display marketing, it is significantly important to understand the true value of display marketing. Attributed reporting helps to understand the accurate ROI that helps to take better-budgeted decisions and optimizations. Display Measurement marketing helps to understand your customer better and also helps customers to rely on the brand. Although the topic related to transparency is ever so argumentative, the most befitting areas of confusing statements are Transparency of Ad placements, Transparency of ad costs, and Transparency of measurement and performance.
Brands are able to give better and confident display marketing when there is right mix of tech and expert insights to offer good transparency in campaign planning, performance and execution. This stage is perceived when the advertisements reach right people at the right time; they also understand the value of display activity and can give profitable business decisions.
Given below are few of the most important things that can be considered to truly MEASURE THE VALUE OF DISPLAY MARKETING:
Considering multiple touch-points
Consumers today have many levels of accessing the information they are looking for. The research data shows that an average consumer has 10.9 touch points per sale in the US. The users are exposed to products through different channels that the brand may be following up with. The traditional web analytics tools wouldn’t show everything in details. But with proper attributed reporting, it gives data of multiple channels and to check for what is missing.
Marketer can take good decision only with the good data that is available. Hence it is highly important for a brand to understand and reach out to all the touch points that go through conversion funnel.
Influencing Other Channels through Display Advertising
Multichannel views help to understand the display impact and the effect it has on other channels. The data shows how running displays with channels improve the conversion rate of other channels. The data shows that consumer is more likely to convert if they see relevancy in the content that is marketed. The example of an Apparel retailer in the US showed a rise of 72 percent in conversions rate when DISPLAY was part of their marketing strategy. It positively affected other channels such as email, social media and SEO.
Verification and LTV
Retargeting is one of the most valued prospects when it comes to marketing campaign. For the campaign to be utterly successful, it needs to consider old customer viz-new customers. But often, we see brands taking wrong decisions of targeting new customers and the research have stated that there are easier to get a conversion from old prospects as compared to a new prospect. The retargeting campaign concentrates on getting old customers to buy the product while the prospecting campaigns look forward to getting new customers into conversions.
A measurement platform helps to identify which consumers came through which channels and thus help to accurately measure the performance of each campaign. Along with this data information, they are also able to track and recognize lifetime value as to which channels are bringing long-term valuable customers in the buying funnel.
In today’s world, Display advertising have come to the fore and it is heavily scrutinized in the every step of its marketing efforts. Marketers should be able to report accurately the outcome of each of their campaigns. Attributed reporting gives out true value and the reports help to demonstrate incremental value allowing marketers to show true potential in getting ROI.