This piece suggests three foundational steps that marketers can use to make most out of their existing measurement solutions to evaluate ROI and advertising effectiveness.
A 2020 Winterberry Group and IAB study found half of data professionals believed measurement and attribution would be their top priority in 2021. In contrast, a 2021 Nielsen Annual Marketing Report found brands of all sizes across industries have “very little confidence” in their existing measurement capabilities.
To make out most of their existing measurement solutions, companies must conduct a holistic audit and organise their tools through a consistent framework. Organise existing measurement portfolio by the importance of measured KPIs or funnel stages. Evaluate existing first-party and third-party measurement solutions based on their “shelf life”.
Marketers should also consider using alternative and better-suited measurement solutions to ensure coverage. Take a unified measurement approach and use first-party assets and measurement capabilities from media publishers.
[4 minute read]