In an article titled, “Attribution Today, Tomorrow—and Forever,” Results Magazine asked media leaders to weigh in on the three most important factors advertisers need to consider regarding attribution right now. Here’s what Strategic Media, Inc.’s own Brooke Murray, Director of Strategic Growth, and Ben Siegel, Information Systems Manager, had to say:
Consumer behavior. “Attribution is an art and a science. Savvy marketers know their target acquisition metrics and manage them with precision and art. The consumer journey is not linear. Advertising a unique offer and call-to-action (CTA) is necessary, especially with offline channels, but broad attribution must be considered. We know from using data-driven solutions that no CTA tells the full story—whether it’s a URL, promo code, or text. Consumers Google everything and get retargeted every minute, making careful use of pixels, survey, and lift methodologies important for measuring true profitability. Seek to measure all ways a consumer engages with a brand after an ad exposure.” -Murray
Sample size and KPIs. “Most brands spend hundreds of thousands of dollars ‘cracking’ Facebook and refining the funnel to drive the most cost-effective acquisition costs. Because of the nature of digital channels, multi-variate testing can be done quickly and cost-effectively. Brands are able to measure millions of impressions quickly. With offline channels, those same principles need to exist in order to generate repeatable, statistically significant results. Measuring 10 conversions to an AM/FM radio station and concluding test results simply isn’t a smart way to spend ad dollars. We work with our clients in developing target funnel metrics to look at top, middle, bottom, and long-term-value funnel metrics so we can measure test variables economically and with confidence.” -Murray
Accuracy and redundant tracking. “These days, there are more ways in which to track user engagement than ever before. With all of the platforms available for pixel tracking, survey tracking, and other forms of digital attribution models, we need to be careful about the conclusions we draw from each. Each tracking service is not created equally and may track events differently. Without being able to compare them directly, we need to take into account multiple attribution models for every campaign and find a reference point that can be used across the entire campaign. Along with this, we cross-check these data sources to ensure the consumer behavior we are presenting is accurate and complete. This ability to have redundant tracking has transformed the way we look at user engagement with our ads, no matter the medium.” -Siegel
At SMI, our experts are leaders in data analysis and attribution across all audio mediums, from terrestrial to satellite radio, podcast, and streaming. To find out more about the multitude of options available for reaching your target audience and tracking your campaign effectively, contact SMI today.