There’s a lot of noise in the marketplace right now. Traditional TV viewership is changing and buying behaviors are evolving, making the marketplace much more fragmented. People are still watching but the way in which they watch is also changing. They are consuming TV programming through screens of all types and sizes—so much so that people are often referred to as “multiscreen consumers”.
The Interactive Advertising Bureau’s in-depth study, The Changing TV Experience: Attitudes and Usage Across Multiple Screens, states that one in three Americans older than 18 owns either a smart TV or a device that streams video to their TVs, with 38 percent (two in five) of those individuals spending at least 50 percent of their TV viewing time streaming video to their television.
Because of this modern viewing behavior, buying strategies are being redefined into something much different than what we saw ten—even five years ago. Consumers are researching products and price shopping more frequently, which is delaying or altering their purchasing behavior. This causes the funnel and attribution to different mediums to become grayer.
Optimizing results based off of a single siloed funnel approach can leave you chasing your tail. However, adapting or evolving with new trends can also be tricky. And to further complicate things is the developing hybrid “brand response” model, where measuring response and brand lift simultaneously can turn into a game of survival of the fittest. According to eMarketer’s Cross-Platform Attribution 2015 report, “no one would argue the importance of cross-platform attribution—defined as a method of assigning credit to a particular marketing-driven interaction or other brand touchpoint. But when it comes to pursuing and implementing attribution, the majority of marketers still fall short.”
What you need to remember is response is still there in DRTV campaigns, you just have to rethink how you find it and measure its worth. So how are most marketers trying to do this?
They’re working harder than ever to pick apart every response channel and measure it. They are trying to attribute everything to every action using every metric possible. All their blood, sweat and tears are going into finding an absolute measure of cost per order. And that’s the problem. Direct response marketers are obsessed with building more and more attribution tools and processes. But do you want to hear what marketers should really be doing?
Stop trying to look for absolute measure of cost per order for DRTV campaigns and for all of your marketing campaigns.
This is why Marketing Architects is changing the way we do things. Not only are we interpreting multi-funnel data and taking an omni-channel approach (understanding how to effectively align and optimize the channels), we’re moving toward measuring relative performance of all media channels, creatives and conversion funnels and learning how each channel affects the other.
“Consumers navigate easily between media empires and the entire open mobile web, all while the TV plays and a tablet is open nearby, and direct response marketers must build strategies around this intricate set of consumer behaviors. Brands need to understand the synchronized impact of these behaviors to justify continued (and increased) media investment,” says Ali Rana of Millard Brown Solution in the company’s 2015 Digital & Media Predictions.
And that’s the point. By taking into account the synchronized impact of consumer media consumption and response behaviors (like CTRs, view through, impressions, searches, but also the other interactions consumers have with the product before clicking through), you can get a more holistic understanding of the health of all your collective direct response advertising campaigns.
Do you want to learn more about why Marketing Architects believes in the power of measuring relative performance of all media channels, creatives and conversions? Stay tuned for the upcoming Marketing Architect eReport, Why the Internet is Rigged to Lower Your Sales: 37 Ways to Take Back Control. Or you can give us a call and talk to our direct response experts today!
Check out our other insights on marketing attribution here.
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