As marketers, we’re constantly wondering how our brand is resonating with consumers (do our ads work?), whether we’re investing in the right mix of media channels (for example, is OOH a good medium for my brand?), and what our ROI is (did we spend wisely?) These are just some of the questions every marketer ponders as they build, plan, and execute their media budgets across today’s complex advertising ecosystem.
According to The Institute for Practitioners in Advertising, a “one size fits all” media plan just doesn’t work anymore. While broad channels like TV and OOH are still very effective, marketers must be more nimble and develop more varied media plans if they want to engage with multiple consumer audiences. As tactics become more complex, it’s more imperative to evaluate and invest in the right tools that not only provide insights but also help guide strategy.
At Cuebiq, our mission is to help marketers understand whether their advertising is changing consumer behavior (we can tell if you if your are ads driving incremental visits), which channels have the biggest offline impact (we can help you build the best media mix for your audience), and how to increase return on ad spend (we provide campaign and budget recommendations in flight).
We built our Measurement solution so that marketers can prove the value of their efforts in the offline world and increase their return on ad spend.
Do your ads drive new visits to store?
Understanding the impact of your ad dollars in the offline world is essential when your main objective is driving consumers to store. Knowing the total uplift of your campaign helps you prove success, calculate ROI, and optimize tactics based on campaign learnings. But let’s take it a step further and talk about incrementality. At Cuebiq, we’ve created a state-of-the-art incrementality methodology to give marketers a more granular look at campaign performance.
Incrementality enhances how marketers build, plan, and activate their media spend across their various ad partners. By taking a deeper look into uplift, incrementality provides you with the ability to see if your advertising is changing consumer behavior — and if your ads are increasing the rate at which consumers visit your brand. Incrementality allows you to break down incremental visits generated from your advertising at the consumer level, so you can enhance your consumer segmentation and media targeting tactics.
With incrementality comes actionable insights, such as in-flight recommendations for customer segmentation, budget allocations, and cross-channel performance.
Are you investing in the right media channels?
With incrementality and offline measurement, you can use real-time performance insights to understand how each channel in a media mix is affecting the other, so you can optimize your entire media mix. Through a cross-channel measurement lens, you can drive a higher ROI by allocating proportional credit to each marketing touchpoint across all channels. This reveals which combinations of media do best, so you can change your spend accordingly.
With these types of insights and campaign metrics, you can create more impactful and diverse media plans that reach and engage all types of consumer audiences.
What is the ROI of your efforts?
And finally, what every marketer really cares about … ROI.
As a marketer, I know the importance of accurately calculating ROI for marketing and media budgets. But ROI is even more important when it comes to advertising, since budgets worldwide are expected to keep increasing. But as budgets increase, so does scrutiny regarding budget allocation, which is why accurate ROI reporting is critical.
Leveraging an offline measurement solution allows you to measure the ROI of your ad dollars and see the impact that your media budgets have in the offline world.
This way, you can demonstrate the value of those dollars in driving consumers to store. With incrementality, you can now calculate the cost per incremental visit much more easily, giving you the ability to optimize your strategies. This helps you not only prove value (ROI), but it also enables you to take the necessary steps to increase your return on ad spend.
Ready to activate incrementality or learn more about Cuebiq? Connect with one of the experts on our team to get started today.