Ever heard of “Don’t buy if you can’t track”? This is particularly true for digital advertising. In the U.S., advertisers are expected to spend $129 billion in digital media this year, per eMarketer.
While the business objectives could be anything from increasing brand preference to foot traffic or sales, most digital media KPIs tend to stick to the basics, such as percent in-target and click-through rates, which many refer to as “vanity metrics.”
As easy as it is to optimize for CTR, it often doesn’t align with true business outcomes. In fact, when analyzing location data vs. online clicks, there is little overlap between users that clicked and users that visited store locations.
How about optimizing for demographics? Just remember that both Lady Gaga and Kellyanne Conway belong to the same popular demo: females 25-54. Beyoncé and Sarah Sanders are the same age, both “women with children present at home.” While demographics help inform some of the targeting strategy, it is insufficient as the key measurement metric […]