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14.05.2019 Interview: What are the trending topics around Marketing Attribution?

Jörn Grunert is a MarTech enthusiast and expert in data-driven marketing attribution. For 6 years, he has been Managing Director at Exactag and is responsible for the strategic orientation of the company. With over 20 years of experience as a leader in digital AdTech and MarTech start-ups, he sets the course for innovative technologies.
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07.05.2019 4 tips how marketers can keep pace with growing technological innovations

The level of innovation in the technology sector is constantly rising and presents a lot of new challenges to many companies. It is becoming increasingly difficult for marketing managers to keep up with the latest trends and developments in technology. The growing number of AdTech and MarTech solutions poses growing challenges to marketers in terms of budget, staff, training and time.
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How Are Digital Channels Influenced By TV?

Einfluss TV Werbung
22. 03. 2017

Cross Device is no longer just an issue for smart phones and mobile devices. Offline channels, too, such as traditional TV need to be considered for effective multi-channel marketing. It's the only way marketers can find out how good or bad individual advertising measures are in comparison and how online and offline channels affect one another. This post explains how digital channels are influenced by TV and how advertisers can measure this impact.

 

TV COMMERCIALS CANNOT BE MEASURED DIRECTLY

The allocation of advertising budgets is a challenge for any company. Online marketing measures have a clear advantage over traditional advertising measures such as TV advertising: Their advertising effectiveness can usually be measured precisely, which makes it easy to derive decisions for budget allocations.

For companies whose marketing mix consists of online and offline channels and who generate the majority of their revenues from online sales, it's not quite so easy. They need to figure out how offline measures, in particular TV commercials, affect online channels.

TV commercials have the disadvantage of not being directly measureable. In the past, there was only the Gross Rating Point (GRP) to calculate the effectiveness of advertising: A TV spot was successful when the costs per GRP were kept as low as possible, i.e. a target group could be reached at the lowest possible expense. This calculation, however, does not indicate how it affects online traffic and how effective the TV spot is in terms of generating higher sales.

 

OPPORTUNITIES OF SECOND-SCREEN USE

Advertisers still cannot do without the mass medium of television when it comes to branding effects and addressing target groups with a wide reach. With the increasing use of smart phones and such, TV commercials also pose a risk for advertisers. Second-screen use degrades television more and more to a secondary medium where commercials are easily overlooked.

On the other hand, cross-device usage can also be encouraged with a targeted advertising message and provide marketers with a range of new possibilities: with a smart phone already in hand, consumers can find out more after the TV commercial or buy the product directly on their mobile device.

 

TV TRACKING TO SEE CORRELATIONS

Today, it's no longer enough to play a TV spot and hope that consumers will buy the product promoted. Advertisers need to make best possible use of their TV campaigns and also include online channels into their planning and analyzing process. It lets them know how TV commercials influence purchase decisions and conversions. This is measureable through TV tracking or TV ad tracking.

TV tracking allows advertisers to see changes in online traffic after a TV spot was aired. This not only includes direct type-ins, i.e. website visits, but also search engine requests. The TV data with exact broadcasting schedules can be combined with the website data to calculate the advertising success as precisely as possible.

 

TV TRACKING AS ANOTHER FACTOR FOR OPTIMAL MARKETING BUDGETING

By combining TV and online advertising channels, a purchase decision can be modeled into the customer journey completely and evaluated with cross-device and TV tracking. Advertisers find out how effective a TV commercial really was – not only how many conversions were made exactly, but also at what time, on which channels and during which program the commercial was most successful.

These insights can be used to optimize media plans and to achieve the best possible budget allocation. Effective tracking allows advertising to find out exactly which sales they need to allocate to which online and offline marketing channel and what investments they need to make to increase their ROI.


All you need to know about Marketing Attribution

 

CONCLUSION

Consumers have become used to using multiple devices. Cross-device advertising and tracking allow advertisers to benefit from this behavior. In-store purchases are not just influenced by online channels – traditional advertising measures such as TV commercials also have an impact on online traffic and can be measured with TV tracking.

For a holistic marketing analysis, it is therefore important not to consider all offline and online channels as separate entities. It's the only way to find out which channels are effective and where there's still room for improvement. For successful marketing in the future, it's vital to view both online and offline marketing measures together.

Interview: What are the trending topics around Marketing Attribution?

14. 05. 2019
Jörn Grunert is a MarTech enthusiast and expert in data-driven marketing attribution. For 6 years, he has been Managing Director at Exactag and is responsible for the strategic orientation of the[...]

4 tips how marketers can keep pace with growing technological innovations

07. 05. 2019
The level of innovation in the technology sector is constantly rising and presents a lot of new challenges to many companies. It is becoming increasingly difficult for marketing managers to keep up[...]

This is how travel brands benefit from marketing attribution

16. 04. 2019
Bookings via traditional travel agencies are declining nowadays. More and more consumers book their holidays online. The internet offers travelers far more opportunities for comparison and they[...]