“Data-driven insights” quickly emerged as one of the recent top marketing buzz terms. The question is – do we really know what it means, and how are those insights being used in practice? With the ongoing challenges of data privacy laws, many brand marketers started re-evaluating their measurement strategies to set more appropriate KPIs for the future.
Being data-driven means using data as the basis for mindful decision-making. While today’s marketers have access to more data than ever, evaluating results takes time and requires necessary in-house tools. As consumer sentiments are quickly evolving, marketers must find alternative approaches to measuring ad effectiveness. Let’s explore a few ways marketers can do to embrace new ways of evaluating ad success.
Getting quick insights
A key part of measuring ad effectiveness is developing a combination of metrics to get a more holistic view of overall campaign performance. After the ad campaign, it’s not about measuring but capturing and appropriately analysing the changing sentiments before, during, and after the run. With that in mind, integrating media measurement enabled by big data is the key to reinventing ad effectiveness.
Think of the benefits of a focus group; marketers can ask a target audience how a specific ad made them feel, and what resonated with them the most. Now, think about applying those same principles on a mass scale, and earlier on. By aligning more closely with researchers, marketers can now make the ideal scenario a reality.
With more insights into the audience’s behavioural patterns, marketers can make informed decisions on how to create engaging content and where to put the investments. This might result in an effective impact on the business.
Adopting agile market research
In today’s ever-changing global business world, sentiment analysis has become a necessity. Luckily, there are many tools helping brands target, deliver, and analyse their insights initiatives. These tools usually aid brands in actively listening and deep understanding of customers’ feelings and reactions. They also provide marketers with the power to accurately extract details shifting sentiments, which they can then leverage to adjust and optimise their campaigns accordingly.
Putting brand authenticity first
When we debate the cookieless future, the latest updates in data privacy regulations, and overall shifts in measurement tracking, we’re really talking about measuring one thing: brand authenticity. This means that staying on the pulse of shifting sentiments allows a better understanding of ad effectiveness. The most effective ads are the ones that promote trust, honesty and authenticity.
The consumer should always be top of mind when building out and executing a marketing strategy. Research conducted by an advertising tech platform, Channel Factory, found a 93% increase in brand awareness for contextually aligned vs non-aligned adverts. This further illustrates that consumers are tired of receiving targeted ads that don’t read as targeted at all. They want commercials that come across as relevant to their needs. Therefore, marketers who leverage first-party data and other actionable consumer insights to create authentic messaging will be the ones who have the competitive advantage in the months ahead.
Advertisers must keep an eye out for new developments and have the tenacity to implement emerging and creative measurement strategies as well as refine commonly used metrics. Looking beyond traditional performance indicators to prioritise the customer experience is the future of driving real business success.