Attribution Webinar Details
When used in conjunction with traditional broadcast media advertising, digital advertising is an outstanding partner and an excellent supplement to those offline campaigns – and vice versa. Measuring that interaction using attribution is key to defining customer journeys so cross-channel marketing efforts are optimized and conversions are increased.
That was the theme of a recent LeadsRx webinar featuring Tom Galati of Diray Media and Lisa Higgins from MarketForce, who joined moderator Lucas Sommer, Marketing Director at LeadsRx, for an hour-long chat about how broadcast and digital work together, why attribution is important to measure the effectiveness of all channels, and what the future holds for marketers advertising goods and services.
Broadcast Advertising Performance Explained by Tom Galati
Galati, an expert in broadcast advertising, said that while there certainly has been a shift from broadcast to digital advertising, broadcast advertising is still a $70 billion industry and works nicely in tandem with digital advertising channels. A small ad budget put toward broadcast can pretty quickly determine which stations, programming and day parts will work best for brands looking at broadcast to extend their reach.
Lisa Higgins on Digital Advertising Performance
Higgins, director of digital media at MarketForce, said digital advertising has evolved in her 10 years in the space, with social media advertising and new social platforms adding to the growing list of digital advertising opportunities.
From a digital perspective, MarketForce’s types of campaigns and conversion events vary widely from client to client – many of them in the ecommerce space – as it works to optimize those campaigns. “Given the evolution of the industry, we look at attribution data all the time so we can really analyze customer journeys and help determine what our media mix should look like, and how to optimize against our end goals,” Higgins said.
Customer Journeys and Attribution
Galati said no two marketers have the exact same customer journeys, and so much depends on what channels they are most active on. Some channels work more toward awareness, while others lead more toward conversions and action, he added.
While in a perfect world, it’s best to launch campaigns in a vacuum, you need to focus on the KPIs of each client, he continued. Sometimes it’s about dialing things up or dialing things down, but years of experience and testing allows Diray Media to help its clients – many of which are direct-response focused – optimize their campaigns.
Galati and Higgins said their companies use attribution, specifically impartial multi-touch attribution insights from LeadsRx, to tell Diray Media’s clients what times work best for airing spots; and, in MarketForce’s case, to help its clients understand how to value conversion events across channels and the propensity for someone to convert – be it watching a video, taking a virtual tour, or signing up for a newsletter or webinar.
Sommer said some pitfalls for marketers to avoid include not tracking the whole sales funnel – allowing Facebook and Google to essentially “grade their own homework” when it comes to advertising effectiveness on those channels; launching attribution without an underlying goal; and getting siloed with channels and not taking a holistic view.
Watch the complete webinar recording, including the experts’ thoughts on adding advertising on streaming platforms to the mix; more on the importance of compiling data and analytics of campaigns; where the marketing industry is heading; and what’s working during the pandemic.