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Superior KPIs: Ditch the Tired Marketing Metrics


woman looking at graphs on laptop

What are your key marketing metrics? Or, in other words, how do you measure the success of a campaign?


With data coming in from so many different channels and sources simultaneously, understanding the true impact of your media campaigns can be tricky.


Traditional metrics like clicks, impressions, and view completion rates -- some of the most commonly used marketing metrics -- are now little more than distractions. We report on them to verify that the ads are running and functioning properly. But beyond that, what value does a 0.10% click-through rate really serve?

 

The goal of most ad campaigns is to drive sales. As such, the number of clicks or times a video ad is viewed is an inadequate measurement of success if they don't lead to actual conversions.


Instead, implement advanced measurement techniques that go beyond the surface-level metrics and dive deeper into understanding the true impact of your campaigns.

 

Better Marketing Metrics: Brand Lift Studies


Track whether your ads enhance the audience's perception of your brand. It's not just about ensuring people see your ads but ensuring they leave a positive impression. Tracking brand lift can help you understand whether your ads are enhancing the audience's perception of your brand. This may require third-party data to measure accurately, but it can provide valuable insights into the effectiveness of your campaigns.


Align Digital Channels to Investigate Sales Drivers


Understand where your sales are coming from. Integration and collaboration across channels can offer richer customer insights and help identify key sales drivers. Eliminating data silos and maximizing visibility into the customer journey is crucial to understanding how your omnichannel marketing campaigns are performing.


Adopt Multitouch Attribution


Don't solely credit the first or last impression. Instead, trace all touchpoints and assign credit accordingly. This way, you gain a more comprehensive understanding of your customer journey. Admittedly, in a cookie-less world, this is a bit more complicated, but with the right tools and technology, it's possible.



This doesn't mean that traditional marketing metrics are wholly meaningless. Clicks, impressions, and views are still indicators of reach and engagement -- which do play a role in building brand awareness and nurturing customer relationships.

 

However, they should be complemented by advanced measurement strategies that provide a more in-depth understanding of your campaign's true impact on sales and overall business success.

 

Advanced measurement strategies may not guarantee a successful campaign, but they provide a more nuanced understanding of ad performance. And, by defining desired outcomes and a measurement plan before a campaign launches, brands can ensure that the reporting they get back is truly relevant to the business expectations.

 

This piece originally appeared in our weekly Paid Media Insights newsletter. For more tips, research, and analysis; subscribe for free here.

 

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