Keys to Measure the Return on Investment in Communication

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Keys to Measure the Return on Investment in Communication

Communication strategies do not end once these have been carried out. Once they have been launched, they need to be monitored to see if they are effective in order to know if the investment makes sense. In the fifth installment of Big Marketing Questions , Ymedia Wink answers that big question that is of great concern to CEOs and CMOs of brands in the digital economy: knowing how much the investment brings in terms of profitability and KPIs. Sonia Casado , Chief Data & Analytics Officer of the company, explains that there may be “multiple responses, depending on whether the focus is the delivery and impact of the campaign in the short term or whether a more strategic perspective of the health of the company is sought.” Mark”.

However, he adds that “only measuring the impact on profitability in the long term allows us to develop brands with sustainable growth and make decisions about the annual budget to achieve business objectives.” How to measure, according to Ymedia Wink? For his part, Casado affirms that the following free number brazil also essential: «It is necessary to build a statistical measurement that, through mathematical models, quantifies the importance of factors, such as investment in media, business evolution, and provides us with tools to estimate how to achieve the best results in the future through simulation and optimization techniques».

Different Measurement Solutions Coexist

In brands: from the most single-channel vision, to adjust the tactical planning of a discipline, to the crossmedia vision . “This does allow orchestrating and optimizing the budget between all disciplines. As the level of maturity of the companies grows” says. Casado In the case of the measurement of People Based Marketing . Which is based on cookies or ‘person id’ by platform or ‘walled garden’. it is a necessary measurement. For tactical adjustments in the short term. But it is not enough, since it does not allow optimization of the mix of paid, owned and earned crossmedia communication”, the expert points out.

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media wink profitability Crossmedia measurement. The key to assess profitability In short. cross-media measurement is the pillar for quantifying the return on communication. Developing the brand and results strategy. Partial measurements by medium or discipline give biased results that are not. Consistent with the overall result of the business KPI. This is because the sum of the parts or of each analysis does not give the total result. Media Wink highlights that only thanks to this statistical and crossmedia approach is it possible. To measure the impact of the different media throughout the conversion funnel. In this way, it is possible to understand how the business KPIs and the profitability for each euro invested have.

To Conclude, Sonia Assures That “It Is Precisely

These solutions, marketing mix modeling and multimedia attribution, that allow us to make predictions. Business KPIs based on different investment scenarios, or given a business objective, to optimize the media mix and budget necessary”. Consumers have a clear choice of value exchange. ” added Travis Clinger, LiveRamp SVP of addressability and ecosystem. “ It is indisputable that authentications translate into higher value inventory and better performance. Those who adopt an authentication strategy now will gain a significant competitive advantage by replacing mobile IDs. Cookies, and other problematic identifiers that don’t prioritize consumer privacy.”

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