One of the fundamental things about the changing nature of what data is enabling is around how brands are able to look at the full funnel of activity rather than just the bottom portion of the funnel. If we go back to the birth of digital advertising, one of the panacea is that digital advertising promised was this fully transparent and measurable outcomes from its activity and metrics like click-through rate were incredibly effective about pulling huge amounts of short term lower funnel spend into digital advertising because it was deemed to be truly attributable, truly measurable. What that’s done is actually understate the value of the upper part of the funnel because some of these metrics weren’t available for that part of the funnel despite 50 plus years of experience. That tells us it’s worked and actually if we go back to some of the empirical evidence, some of the work by people like Byron sharp at the Aaron Bat Institute, he and his colleagues have actually gone in and had a look at the best performing ad campaigns, had to look at the best performing advertisers and what they’re telling us is that actually even amongst these brand loyalists, people get 50% or less than 50% or of the of the spend the category spend from those individuals for that particular advertiser. What this tells us is we need to go and find new customers all the time and if we have a look at the work of Burnett and field who have summarized lots and lots of evidence from the IPA databank, what they’ve actually found is that 60% of advertising investment in general ought to be focused on the upper funnel. The branding centric measures was more like 40% should be focused towards the bottom of the funnel, more response based measures. Now the fact that we’re seeing the digitization of more and more media types, especially in more of the traditional media like television, like out of home, like radio, these being delivered digitally now means is actually digital data that’s available that can be put into the same type of attribute attribution modeling systems as the original set of digital data around banners and videos. And that allows marketers now to be able to get a better holistic view of actually attributing the outcomes back to the genuine causes of what’s driving that business value.
Answer ratingsNo ratings
More Sales and Marketing