To exceed in marketing nowadays, companies need constant, up-to-date information and audience insights about their core demographic. It’s especially important to have an overview of and be able to track the customer journey in order to target and retarget consumers throughout the entire purchase funnel. One example of doing this would be through TV Attribution, which can provide deep performance-related insights. However, in order to develop intelligent omnichannel marketing strategies, consumer data is needed.
By intertwining consumer data and audience insights into an existing marketing strategy, brands are able to develop more personalized marketing tactics. Personalized marketing is beneficial for both the brand and consumer. For example, a report by Salesforce found that 52% of consumers were extremely or somewhat likely to switch brands if a company didn’t personalize their communications with them. Personalized marketing is extremely important to strengthen customer loyalty and trust in the company, which in turn leads to more conversions and sales. That’s why including data helps to achieve campaign success, increase ROI, and efficiently redistribute marketing budget across certain channels.
But how can companies learn about the customer journey of its potential buyers? When consumers today use so many channels to make a particular purchase, marketers need to establish a tracking system that evaluates the entire customer journey of potential buyers (i.e. leads). That way, marketers are able to reach and target potential customers at the ideal journey touchpoint that is most likely to lead to a conversion. For example, an individual saw a TV commercial and then searched for a product on their tablet via WiFi, which led to an online purchase. By measuring the entire customer journey, a company is able to determine that the TV advertising that was responsible for this conversion, and is thus attributed a point in this conversion.
Full-funnel attribution is the best way for a company to run a TV campaign and measure its performance. Beside TV’s superb impact on revenue growth, attribution can also be used to gain deeper insights into the performance of specific campaign variables such as message, creative, target audience, media schedule, ad placement, format, length, and more.
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