One could say the advertising industry is going through growing pains when it comes to measurement.
Due in part to limited targeting options from television advertising, video has long been considered just an awareness tactic by marketers. Now, enhanced technology provides marketers with better targeting capabilities, enabling them to tailor the video content they serve based on a viewer’s familiarity with the brand, product preferences, and readiness to buy. This allows advertisers to impact all stages of the customer journey with video and more directly influence lower funnel KPI’s — including sales.
But old habits die hard. Even though we’re now able to do much more with video, many marketers still rely on awareness metrics alone to assess the effectiveness of their campaigns. After all, an unpopular campaign that’s gone viral on social media can drive a ton of impressions. But that campaign would ultimately deteriorate brand sentiment and sales.
When we asked our experts about this topic, they seemed to agree the industry needed to define new standards of measurement for video to better define success throughout the customer journey. In addition, several of the experts advised brands to think backwards from the business goals they were hoping to drive and to assign campaign metrics based off of those.
Check out their responses below: