It’s the classic coffee vs toffee debate, where marketers and advertisers often face the dilemma of choosing the right channel for advertising. “Traditional or digital, measurement will always boil down to effort vs impact,” said Kavita Shenoy, founder and chief executive officer of Voiro.
ROI measurement remains one of the key factors that influences the decision where marketers park their advertising budget.
Both forms of media measure ROI based on the availability and usage of data from multiple sources – panel based consumer tracking that aids understanding of profile of consumers exposed and consuming brand communication as well as platform related user or subscriber data that exhibits deeper granular insights to behavioral aspects, according to LV Krishnan, chief executive officer of TAM Media Research.
“A good analytics and CRM setup for your business is definitely going to give you crystal clarity on where, when and how your prospects convert to customers,” shared Deep Mehta, co-founder of DigiChefs.
During the festival season, the right media mix that generates maximum ROI for clients has always been the challenge for advertisers. “The competition is such during these times, that even your best performing media channels could fail to deliver results at times. Several brands are too aggressive and render a red ocean for late entrants or younger brands,” Mehta said.
Derived metrics, investment of time and effort on all the innovation may not always pan out. But when it does, it can hit the ball out of the park and the brand can get more ROI than it planned, adds Shenoy.
The ability of the platform to provide the necessary variables to uplift the brand within a targeted consumer set becomes an interesting element in the measurement of ROI.
“While data from traditional platforms provide reach and impressions of the campaign executed, the sheer depth of data availability with digital platforms enable analysts and advertisers to dig deeper to understand the cause and effect of brand ad campaigns,” Krishnan mentioned.