The purpose of measurement in advertising is to empower better data-driven decision making. But for many marketers, their ability to measure campaign performance and apply the ensuing insights is an exercise in untangling data and process rather than netting actual benefits.
The concept of lift measurement—measuring how a campaign impacts a key business metric—has been a useful tactic in quantifying marketing success for brands and tying them to business outcomes, especially those in CPG and retail. But the challenges around fragmented data and slow processes are hampering results.
What are the biggest problems with lift measurement solutions today, and what can be done to solve them? Read on to learn how to take your lift measurement from frustrating to functional (and dare we say, fruitful?).
Unfortunately, most marketers can’t currently rely on lift measurement to make live optimizations, and there are a few reasons why.
While marketers are under continual pressure to show improvement in driving ROI, it’s hard to do that without access to a complete picture until weeks and sometimes months after a campaign ends. It’s also difficult for publishers and platforms to have meaningful discussions about how advertisers can get more from their investments.
There’s a lack of always-on access to campaign reporting that shows lift measurement. Advertisers want a unified way to measure across channels and compare performance.
Without clear insight into the data and methodology used to render measurement, especially in a rapidly changing adtech environment, there’s the question of the trade-off between speed and quality. If you get results faster, does that mean you can really trust them? And how do you know what’s happening behind the curtain?
How we think about measurement needs to change. Lift measurement can be a powerful tool to drive campaign ROI, so we need to do more than simply understand baseline metrics. We have to focus on the true impact of a digital advertising strategy—namely, did the campaigns drive sales and revenue? And what levers can we pull to optimize along the way?
Lean into your measurement partners, and find out how to mature along the measurement journey. If you’re accustomed to measuring only in terms of ad verification, then educate yourself on assessing consumer attention and all the signals that accompany it. If you’re stuck measuring only outcomes such as awareness, then point your attention to more concrete outcomes like sales and in-store visits.
It’s time to throw out your old-school spreadsheets and presentations and look for digital dashboards that allow you to measure, adjust, and evaluate your campaigns across a range of variables, rather than a single slide. Cross-campaign transparency powers the ability to draw insightful comparisons and spot the macro trends that ladder up to larger stories, which leads to more informed decision making.
Improve ROI by getting comfortable with adjusting allocations, redistributing budgets, and optimizing toward outcomes like sales while campaigns are midflight.
The bottom line is this: In an era of budget constraints and continual shifts in consumer behavior, you cannot afford to wait for actionable data and potentially squander your precious ad spend. Reevaluating your lift measurement tactics is the path to powerful results.
With Moat Outcomes, causal measurement becomes more agile and responsive, providing you with real-world business results from your ad campaign in as little as 10 days.