The movement of technology and marketing to track your advertising analytics have progressed in ways many businesses don’t understand yet. Many still track activities by each media – TV, Radio, Print, etc.
Ads online are also tracked, but all of these media channels – independently.
A new approach
A new way of analyzing your data can be done through a set of principles and tools that can reveal wasted spends and lack of targeting opportunities. Some organizations will say that TV works well for them and base it on a “feeling” and “general trending”. Others, meanwhile – the more savvy – have ditched TV and now use YouTube instead. The latter is based on research, testing and findings of cost-reduction, but also in terms of heightened effectiveness in targeting and tracking.
Reallocation of budgets and ad dollars can be the smartest thing you do, but you must know how to do it.
The idea that sales data is correlated with a few dozen variables for your advertising is over.
The new capabilities discussed here use “Big Data Marketing” concepts and models that churns through terabytes of data and hundreds of variables in real time.
Based on a recent study from Harvard Business Review, a result of 10%-30% in improvement can be seen from your total marketing performance.