Originally posted at: MediaPost | November 19, 2018
Many brands have moved major advertising budgets from traditional to digital media, but they lack the proper metrics from data to prove that the move capitalizes on programmatic technology.
Measuring metrics that matter and creating custom indicators that correlate to a brand preference or increase in sales should be the goal of all marketers.
“Most of the marketers we spoke with were still measuring traditional KPIs like cost per visit,” said Matt Sweeney, CEO of Xaxis North America, explaining that it told the marketers that consumers were making the purchase, but there was no way to know the value of the sale because most people don’t click on the ad — not the dollar value, but long-term value as a customer.
A survey of 1,000 brand marketers in the U.S. and 501 in Canada reveals that 86% are likely to increase their investment in what Sweeney calls “outcome-driven media,” which means different things depending on the type of business.