Attributing marketing activity directly to revenue results is a common challenge for marketers everywhere.
But knowing (and proving) the worth of your efforts is key to having full confidence in your brand and its progress.
As part of our series on audience profiling in practice, we previously delved into:
Arriving at the final step, here’s how to focus on the metrics that matter and effectively measure your marketing return.
1. Use a single source of consumer data.
While consumer insight has always had a crucial part to play in effective marketing, it’s now taken on a whole new role. Traditionally a lengthy process where users had to juggle several arms of external research, uncovering actionable insight took both time and resource.
Now, brands can have ready access to all the granular consumer data they need in one place, eliminating the many risks that come with combining separate data sets that may rely on vastly different methodologies.
By bringing audience research in-house, leading brands are already proving the benefits of putting insight behind every action, and streamlining resources for a better ROI.
It’s actually pretty simple:
If you have complete control of the research you rely on, and you trust its source, you can use it with confidence.
2. Run ad effectiveness studies.
One of the key challenges associated with getting advertising right hinges on a lack of visibility into marketing effectiveness. When paired with an over-reliance on assumption instead of putting deep insight behind your activity, it’s a recipe for disaster.
But when it comes to knowing what you’re doing works, getting a true picture of the results is key. And those results come not only in the form of sales numbers – they appear in the perceptions and attitudes of your target consumers.
That’s why opting for ad effectiveness studies that evaluate the true impact of your campaign on your exact target audience is worth the investment.
By asking the questions you need answered, aimed squarely at the right people, you can rely less on passive behavioral analytics to fill the gaps, and more on the perceptions you’re successfully shifting.
3. Opt for analytics that track people, not devices.
Website analytics, while useful for understanding user interactions with your site, are infamously flawed.
In today’s climate, relying on data collected by tracking devices or cookies rather than people’s actual actions and the motivations behind them simply isn’t enough.
Instead, marketers need access to richer data, using personally identifiable, first-party data to recognize users across devices.
Solutions like GWIQ Analytics couple extensive panel data with real-time analytics, offering a more holistic portrayal of audience behaviors across time, location, devices and platforms.
Incorporating this type of tracking into your strategy is the most accurate way to measure success and know what you’re doing works. It’s the final puzzle piece you need to succeed at profiling your audience, based on reliable data that reflects real people.
Check your measurement strategy with some key questions.
- What is my marketing mission?
- How does this translate into business metrics?
- What are the metrics that really matter to me?
- Who are my key target segments?
- Do I know how my marketing is resonating with them?
- Is my data adding up across the tools I’m using?
- Am I tracking more than just devices and cookies?
- How can I harmonize everything?
Insight in Practice: Tequila Avión
Leading tequila brand, Tequila Avión, has accrued plenty of praise and success. But it had a challenge to overcome in the U.S market, where the brand needed to find a way to drive awareness and consideration within the highly competitive tequila landscape.
Avión’s agency, Fullsix, knows all too well the challenges of disjointed campaign lifecycles, a lack of measurability and a lack of control.
Its unique methods ensure data plays a key role in every stage of the campaign, ensuring complete visibility from end to end.
Combining survey data and analytics, provided through GlobalWebIndex, the team could build a strategy on a solid foundation of not only a deep understanding of their target audiences, but the ability to assess the effectiveness of their efforts in granular detail.
This intricate targeting resulted in a lift in key metrics for the brand, hitting targets across the board.
Using GWIQ Analytics, the team could analyze the overall effectiveness of their campaign against the exact same audience they used for their original modeling.
This meant they could get the most accurate reading possible of what actually worked, and equally, what didn’t. Achieving a brand lift across all key objectives, the team could reach their desired goals against the odds, increasing both brand awareness and consideration among their target audience.
This unique blend of survey data and analytics by the Fullsix team presents a key lesson for brands in the art of measurement.