Last week we addressed the rampant problem of misaligned measurement and the key questions we seek to answer from a branding campaign.
The key takeaways are straightforward enough:
1) Establish clear objectives; and
2) Align a measurement approach according to these objectives.
Simple, right? Rule #1: If your objective is “branding” or “awareness,” then measure branding effectiveness. I support this statement 100% and this is my primary recommendation to clients.
However, things are not always that simple and straightforward.
An increasing number of marketers are beginning to question or even dismiss the often-unimpressive single-digit lifts in branding effectiveness measures. Some marketers, including brands with smaller or fragmented budgets that support multiple initiatives, are not budgeting for branding effectiveness measurement on a regular basis, if at all.
Regardless of the reason, there will be a time when every digital media strategist or planner must develop a creative (and analytically sound) measurement approach that is generally aligned with your objectives.
I’ve been working on perfecting a calculation for a normalized index of multiple objectives and priorities that allows for the comparative analysis of campaigns and elements within campaigns. The resulting digital media performance score is not skewed by campaign scale and should be well formulated such that the calculation does not change over time.
Of course, I can’t give away the entire punchline here, but I will walk you through the general framework for creating your own model. This should provide some serious fodder for conversations with your agency/client analytics teams on how to develop your own calculation and model. I welcome feedback, challenges, debates, and ideas on how to improve this approach.
The model incorporates three broad measurement buckets: Reach & Frequency, Engagement and Commerce.
Digital Media Performance Score
The performance score combines disparate metrics that will need to be prioritized and weighted. If running a branding effectiveness study, brand lifts can also be incorporated into the score. Arbitrary coefficients should be used to enable each of the measurement buckets to yield ranges of measures that can contribute to the score in a visual manner. This will prevent any needles in the haystack, so to speak.
How to Use The Digital Media Performance Score
Remember, this score is not an absolute value of anything, but rather a tangible comparative index that is influenced by the efficiency of reaching your target, the level of brand engagement, and the measureable revenue or leads that result. It’s an augment to existing measurement, and a creative approach to the gray area between hardcore direct response and branding effectiveness measurement. This may not be the be-all and end-all of digital media measurement, but it just may be your salvation if you’re still struggling with measuring digital media in general or if you’re somehow still using click rate (gasp, shame).
I’d love to hear your feedback, challenges, or additions to the approach. Leave your comments below or hit me on Twitter @jasonheller