Means of measuring marketing must mature with mobile emergence. From Think With Google:
“Leading marketers were 75% more likely than the mainstream to have moved to a more holistic measurement model in the last two years—and were more than twice as likely to have significantly exceeded their top business goal in 2015.”
- Marketers that put weight only into micro-measurements like CPI and CPC are missing the big picture. These metrics should be seen as parts of a much larger customer journey. A click on an ad can be seen as a checkpoint on the way to making a major purchase, not the terminal metric.
- Google has been emphasizing the potential of “moment marketing”, the opportunity for brands to be present and useful when a consumer is seeking some information. Brands should not let consumers defer to Wikipedia if the search queries are at all related to their products and services. Brands now have the ability to present relevant content to consumers at the very top of the funnel. Too often, these brands are only concerned with the immediate ROI of down-funnel media and miss the opportunity to influence major buying decisions in the research and discovery phases of the consumer journey. This failure is often due to a lack of visibility into how all campaigns work together to meet major KPIs.
- The Level BI Dashboard’s Cross-Channel Attribution feature provides a holistic view of how campaigns across all channels and devices influence one another. We have had numerous discussions with clients about the efficacy of certain types of digital advertising and cited the data in the Cross-Channel Attribution feature as evidence that these components are essential to the campaign by influencing buyer behavior in various stages of the purchasing decision.
What happens when logic and data collide. From Search Engine Land:
“When considering whether to pause or delete a keyword that has no conversions after a certain amount of traffic, our common sense can inform that judgment, but our intuition is likely stronger on the qualitative aspects of that decision (“There’s no obvious difference between this keyword and a dozen others that are converting as expected.”) than the quantitative aspects.”
- Not every keyword will generate high enough click volume for the conversion rate to be considered significant by conventional statistical analysis standards. However, lower click volume does not necessarily mean that the keyword should be deleted.
- Consider the statistical probability of the conversion rate occurring exactly as projected within a particular quantity of clicks. The exact match is improbable. Utilizing a predetermined number of standard deviations to create an acceptable range for the conversion rate would be a better indicator of whether the keyword is performing.
- Consider the other variables that influence an ad. Any modifier words could influence the performance. Maybe consumers of a certain vertical search for cheap solutions, but do not trust a solution that labels itself as cheap.
- Like any other facet of advanced digital marketing, these insights are gleaned by a thorough and thoughtful examination of the data, not by the data itself.