It has never been easier to reach large audiences quickly, but this dynamism has made it difficult for brands to measure the effect of advertising spend on their bottom line.
The digital advertising marketplace involves a growing network of players, all targeting customers in different ways. Transactions are being carried out across long, complex supply chains, while “walled gardens” such as Facebook and YouTube only share and manage data on their own terms, making it difficult to track how these channels are delivering value in concrete terms.
All this complexity can make tracking your ad spend feel like a wild goose chase and make it difficult to demonstrate value for your investment. Here are five tips to help you get the most out of tracking and measuring, while refining your programmatic approach.
- Measure your entire buy — To measure the ROI of your advertising investment, you need to make sense of it as a whole. That’s why it’s crucial to look at your ad spend holistically across all channels, from TV to search. This raises the question of how to put together a standardised picture of cross-channel results, which is where demand-side platforms (DSPs) like Adobe Advertising Cloud come into play, allowing you to consolidate data and develop this integrated overview.
- Align success metrics with business goals – It seems obvious, but many of us are guilty of assigning undue weight to signals that are easily available at the expense of those that really matter. Consider what success will look like for a campaign and for your business before you define your metrics. For example, are you looking to drive trial and penetration with new audiences? Or are you looking to drive incremental spend among existing customers? It’s important to engineer a measurement framework that tells you how you’re tracking against those goals.
- Do more with your DSP – DSPs are instrumental to bringing clarity to your advertising supply chain, but there are many different approaches to choose from. While it’s common practice to use separate DSPs for different channels — a display DSP for banner ads, a video DSP for online video, a mobile DSP for mobile ads, and so on – this is still more complicated than necessary. Some solutions combine a few of these channels, but the best ones bring together every channel, which is the key to consolidating all your data and managing your campaign spend more effectively.
- Incorporate offline signals – The best digital advertising influences people’s behaviour online and off. Customers often buy products in-store after coming across them online or on social media, so it only follows that these signals should factor into your analysis. Again, DSPs can help, allowing brands to plug offline actions into their digital campaign measurement.
- Evolve your performance measurement – Digital advertising is an exercise in continuously tweaking your approach based on what the data says. That’s why it’s important to take into account new parameters as they become available, for instance “location”, “audience” and “device” on paid search. By taking advantage of these new datasets, you can make better-informed adjustments to your bidding and ultimately improve your paid search performance.
Measuring the true effect of your advertising investment can be a daunting and complicated prospect, but the process can quickly be simplified with some thoughtful planning and the aid of dedicated technology like a DSP. Learn more about how Adobe Advertising Cloud can help bring clarity to your media measurement approach.