To measure the efficiency of a marketing campaign, we talk in KPIs!
A KPI, what is it, what is it for?
KPIs, or Key Performance Indicators, unveil the efficiency of your company, based on its probability to achieve its goals. Linked to the global success of the society, they are crucial.
That’s why it is so important to define them clearly, and avoid this way building your new strategy on wrong indicators. The success of the analysis of a TV campaign is primarily based on choosing the good KPIs, linked to the main objective of your TV campaign.
Determining the main TV campaign objective
We often observe 2 types of totally opposed behaviors: some advertisers only focus on measuring web visits, and others would like to follow the number of “clics”. That’s actual proof that KPIs are neither universal nor easy to pick.
First, it is important determine what the advertiser wants to track. Online measurement allowed us to follow multiple KPIs in the customer journey, and it is becoming to do the same with TV.
It is then very important to define the main objective of a TV campaign. For an online seller, it would be purchases; for others, it could the creation of an account, appointment booking, document request…
Having defined this main objective, there is still one more question…
What are the main steps before picking your KPIs?
1- Identify the visitor’s interests and the sticking points
When visiting your website, a TV-viewer is clearly showing a great interest in your brand. As a TV spot is short, its message has to be concise. Plus, it is in the first second of web browsing on your website that a TV-viewer will see if the TV spot fulfills its promise. Another action on the website, besides the visit, tells a lot: is your TV-viewer interested or not?
What’s important to consider is also to identify the different sticking points in the customer journey, from the entry point to the achievement of the target. It is well known that every new step in the conversion funnel will certainly make you lose some precious points in your transformation rate.
When following the most constraining steps of the journey, like account creation (sharing personal data) or a purchase, you’ll be able to determine if the failure of one objective is due to the product or another factor like the price, etc.
Without a baseline TV Campaign, it is possible to have an idea of the possible ROI of a campaign by comparing already known data, like the average basket. We can clearly see that the average expense of a TV-viewer is often different, either up or down, from the one recorded on the website. Why? Mainly because of the message, the targeted public, the period, etc.
No matter what, knowing the customer journey and the way your TV-viewers act allows you to better think of your future investments. It also makes it easier to convey information to your TV Analytics partner, like the order amount.
With those different lines, it is possible to use what you’ve learned in the first wave and adapt the tracking to the following ones.
In a nutshell:
– Identify the main objective based on line of the campaign
-Find the different steps leading to the realization of the main objective
-Retaining info is losing info
-Do not pick more that 4 or 5 key indicators to follow