Creating provable value—it's hands down one of the biggest challenges media professionals face. How do we accurately prove and definitively define media success? With the digital wave, reporting on certain things has become much easier—to plainly say, “this many people clicked on this ad, and thus visited your website.” But on the flip-side of the coin, I couldn’t ever definitively tell you that 100 people saw your TV ad. (Touching your television set doesn’t show up on Google Analytics—who knew?)
Clients rightfully want to know more and more about what kind of ROI they’re obtaining in return for media dollars spent—both digitally and traditionally. So how can this be effectively accomplished?
The Ins & Outs
As the media world continues to evolve, it's becomes apparent that digital and traditional efforts need to strategically work together in order to meet a given client's overall goals. This entails ensuring those specific actions we take to market a brand to the masses utilize channels at the right time, with the right message, and in the right place. It's about speaking the specific language per each client and industry segment as opposed to simply engaging in “media speak.”
The Language Barrier
So about that media speak... Gone are the days of trying to explain a GRP, households based on thousands and 5,000 mailers being sent without including tracking of some sort. Clients aren’t necessarily interested in knowing the behind-the-scenes talk about what’s happening. They want to see specifically what they’re getting—whether that's how many loan applications have been filled out, versus how many conversions they had on an ad. They generally want measurable, definitive, black-and-white results.
The Agency Shift
So how do we as agencies shift our focus, so that we can show value, results and that we are utilizing those crucial dollars to get the best bang for our clients' bucks? We have to change how we approach proving value. We do this by changing our media language and focusing on client goals and objectives not only when talking to a client, but also when we buy media.
Case in Point: Conversions
Conversions are huge—how many people are coming to my store? What are the conversion rates on my “apply now” button on the website? If we can accurately tell you that, of 100 people that clicked "apply now," 60 applied for a loan and 20 were approved for a loan, we can accurately tell you the ROI on your media investment.
It’s about recognizing key metrics of what a client needs (and wants) to track, setting those goals, executing that plan and proving that what we do day in and day out is working. We should be able to both tell and show you why.
The Ever-Changing Scope
The media scope and landscape will only continue to grow, change and evolve over time. We as marketers within this changing media world must recognize these changes, stay on top of trends and be able to put our money where our mouth is. Right now we have more access to programmatic buying, video pre-roll, native advertising, social channels (i.e., Facebook, Snapchat, Instagram, YouTube, etc.) and traditional media than ever before.
Brands need a media team behind them that will work not only for them, but also with them, in order to achieve their tangible goals. We believe in this philosophy and aim to continuously work toward creating provable value in order to make this a reality for all clients.