Today’s brand marketers are offered a seemingly never-ending array of ‘big data’ solutions with which to optimize their marketing programs. With so many related buzzwords, it can be daunting to separate which services have substantial benefits and which are less critical to success.
For CPG marketers, measuring digital campaigns in terms of offline sales has clear benefits to their marketing programs. Here are four major benefits to CPG brand managers who conduct Sales Effect measurement studies for their digital campaigns:
1) Accountability. Big money is spent on digital advertising (particularly video, which is now more expensive than the average TV spot), so brand managers need to understand the return on their ad spend (ROAS) in terms of what matters to them most – real, in-store sales.
2) Actionable Learning. Albert Einstein said that the definition of insanity is doing the same thing over and over again and expecting different results. Having a detailed report of just how a campaign drove in-store sales can arm marketers with the insights necessary to adjust their game plan and make their next campaign even more effective.
3) Cost Savings. Until the emergence of offline sales attribution measurement products, marketers were left guessing as to which campaign elements were driving the best results for their brands. With Sales Effect measurement, brand managers can tweak future campaign budgets to leverage their best possible ROAS.
4) Competitive Advantage. NCS’ digital Sales Effect measurement studies include an analysis of how brands in the competitive set were affected by their campaign. This is an excellent way for brand managers to understand which competitors are showing vulnerability, and to glean valuable information for deploying future campaigns deliberately aimed to steal market share from specific competitors.