Why it matters
Too many brands are not measuring their campaigns properly. This, in turn, leads to poor decision-making when shaping future campaigns. Only by adopting a rigorous measurement strategy can marketers be confident that they are making the correct advertising investments.
- Metrics being used to measure campaign success should be consistent across media channels. This allows a fair comparison of input metrics and reach.
- Planning decisions sit on a continuum from high level, low cadence, to granular, high cadence. For high level decisions, econometrics and brand health modelling are most suitable; for granular decisions, channel-specific methodologies such as digital attribution or TV spot-matching are more relevant.
- Brands might benefit from limiting the number of KPIs to 10, with a mixture of metrics measuring short- and long-term performance.