TV Attribution in 2020 – Reporting on your campaign spend
One of the questions we’re often asked about television advertising from new to TV clients is ‘How do we measure it? How can we prove our budget wouldn’t be better spent on a good lunch?’
In the past when goals might simply have been ‘please sell more of our product’ you might be able to measure sales year on year and with good forecasting work out a fairly accurate impact of any TV advertising activity.
Of course in the past, the type of brands that could afford to be on TV probably weren’t all that interested in direct sales but just being ‘the brand that could afford to be on TV’.
Well, this is 2020 and things are a little different.
Media owners now offer targeted delivery on television from as low as a few thousands pounds. Now while that level of media buy (as attractive as it may be) won’t make sense for many organisations, a £10-20k buy now affords you a whole lot of (hyper targeted) reach and still falls below previous buy-ins by an order of magnitude.
But how do you keep track of where those pennies are being spent? How do you incorporate your KPIs?
Well one example is Sky who have recently partnered with TVSquared to offer a deeper insight into the effectiveness of television advertising. The premise is a direct web attribution tool that works across their linear, on-demand and addressable TV advertising campaigns – all of which enable us, as your video agency, to provide the clearest picture yet of how TV drives interest, consideration and sales performance.
Specifically we can now quantify the impact of TV advertising on full-funnel outcomes, from website traffic to intent, consideration and even directly to sales. We can measure performance and cost-effectiveness for both addressable and linear television advertising – monitoring where you’re getting maximum ROI across audience, creative, days, networks, programmes and genres. All of this can help inform future optimisation, planning and further pinpointing targeted media buys.
According to Sky’s Dev Sangani, “Our emerging insights show that there is a 50-100% increase in web visits attributed to TV versus traditional models. Clearly that means TV’s impact on advertising performance has been wildly underestimated”.
And if you’re not planning on using Sky? Well, for all BARB reported commercial copy we can work with organisations like ClearCast, AdStream and Peach, accessing their attribution dataset which offers all sorts of analytics options. Buying agencies can see what share they’re taking, advertisers can see which competitor brands are currently on air and what buying agency is buying spots for what brands. All of this leads to greater transparency, more accurate media auditing, better lead generation.
TL;DR: If marketers or business owners had any concern about how to prove the value of television advertising, they should take another look. TV advertising is more affordable than ever and now we can clearly prove how effective it is.