It is no secret that analytics and data-driven measurement are crucial components to brand success. With the current circumstances of the COVID-19 pandemic, data analysis and measurement have become even more critical. Companies must continuously engage with their customers, create relevant content, and grow their businesses, all while their budgets are being cut significantly. During these uncertain times, companies need to become more efficient than ever before.
Brands need a transparent view of their marketing efforts to optimize limited budgets. Thankfully, today’s technology enables real-time access to data and insights regarding the best (and worst) performing elements of campaigns.
“Diglant’s Analytics solution successfully provides the integration of various platforms and channels for a transparent, 360-degree view of a brand’s advertising and marketing efforts.”
– Wes Farris, VP of Product, Digilant.
Companies can use data and insights to adjust key performance indicators (KPIs), eliminate unnecessary waste, and direct their spending towards the best performing channels and strategies. Greater transparency enables companies to make informed, timely decisions about which direction to take with their marketing efforts.
Below we’ve outlined 3 reasons why analytics and transparency go hand in hand:
Better Channel Efficiency:
Analytics and measurement are critical components to advertising because they allow you to justify increased spend towards specific channels or tactics that are moving the needle on your goals, whether it’s increasing brand awareness or bringing in conversions.
“At Digilant, we provide clients with a centralized location where they can have a unified view for performance across all the platforms, such as MediaMath Media Math, Google Adwords, and Google Analytics.”
– Chander Yadav, Director of Analytics, Digilant.
You can quickly analyze and decide what channels or platforms are working and which ones are dragging you down, so you can quickly add or drop budgets.
More Tactical Optimizations:
Not only does an analytics solution provide channel and KPI analysis, but it can also hone in on tactical performance to help drill down channel level details that might otherwise be overlooked.
For example, Digilant’s analytic solution allows our team to quickly look into the paid search channel and see which keywords are driving the value for the client, allowing us to optimize the bidding. With the mobile SDK integration, we can see how many users downloaded a specific brand’s app or how many hours they spent within this app. Moreover, we can learn what creative messages resonate with customers, what is the best time of the day to reach them, and what devices customers use to engage with brands.
With this holistic, unified view companies can quickly see which campaign or which metrics need attention and optimization to make sure that they spend their media budget efficiently.
Prevent Data Bias
Omnichannel data views allow us to analyze how each channel is contributing to the larger picture. When running campaigns, one could assume that social media paid efforts may result in more leads, but with data, we can confirm or deny this assumption.
Although dashboarding allows for easily accessible data, one must still consider that data doesn’t always show the whole story. One of the biggest challenges that companies face when evaluating their performance is that insights can be biased, even those gained from the largest advertising players such as Facebook, Google, or Amazon.
Unfortunately, there is no 100% truly unbiased solution. However, many experts believe that multi-touch attribution models (which are tied to a user cookie) developed by independent data measurement platforms show better visibility and report data in an unbiased way. The future will reveal how the industry will replace cookies, and if brands will rely on specific publishers or other independent players.
How to blend analytics and transparency in your digital advertising
At Digilant, we provide a unique value for our clients by educating about the pros and cons of options and providing our clients with the best solutions for measurement and transparency.
Interested in learning more? Let’s talk.