The increase in the number of platforms, channels and services has caused so many only 54% of marketers be confident in your ability to measure the ROI of the funnel.
With the aim of helping marketers to break through so much noise, Nielsen, a company specializing in information, data and audience analysis, has prepared a total of six good practices oriented to increase the ROI of advertising campaigns.
1. Improve segmentation to increase ROI
Trying to stretch your marketing budget to encompass an ever-growing media ecosystem is challenging. That’s why it’s important to understand the specific frequency and reach of each ad campaign by advertiser and platform.
In the data-driven age of marketing, leveraging in-the-moment metrics to optimize the campaign almost in real timel is essential to reach more target audience and therefore increase ROI.
2. Measure and optimize brand parameters
Improving brand awareness is the number one goal for marketers in 2022. According to Nielsen data, on average, a one-point increase in brand metrics, such as awareness and consideration, is a one-point increase in brand awareness. 1% on sales. What’s more, if you increase awareness and consideration, you improve the efficiency of conversion-oriented marketing.
3. Uncreative campaigns have no impact, quality campaigns are 35% more effective
Media is growing and consumers are being over-advertised, so getting—and keeping—their attention is often a matter of creativity. Nielsen, in a recent study commissioned by Meta, analyzed data from marketing mix models of 41 different brands of consumer goods, noting that lQuality creative campaigns were 35% more effective.
4. New media = new ways to interact
The huge variety of customer-reaching platforms and media formats offers marketers more ways to engage with potential customers than ever before. And with each new marketing channel, the importance of attribution and optimization increases to identify where you can get the most ROI.
Brands that invest in new media and formats achieve more profitability. The 2022 Nielsen ROI Report highlights that podcast advertising, influencer marketing, and branded content have a huge impact on brand metrics.
5. Optimize spend across regions to increase ROI
Brands believe that a bad ROI has to be punished with less investment. However, it could be that the brand is investing too little to make a real impact. According to the 2022 Nielsen ROI Report, 50% of media investment plans are underfunded an average of 50%.
In North America, the ROI is higher than that of any other region analyzed – although 57% of the plans are underfunded – which makes it an opportunity zone for most brands. Latin America is another area of enormous opportunities, more than half of the plans are underfunded and the ROI would increase enormously if it were provided with the appropriate means. By contrast, brands allocate more budget to media in Europe, but ROI is the lowest of all regions. either.
6. Leverage multiple data sets to improve performance
The most effective marketing tactics combine the behavioral and contextual data insights to get the maximum possible ROI. By supplementing this type of data, marketers can be more effective in their campaigns.
In fact, according to Nielsen Attribution software standards, the ROI of impressions delivered to audiences using behavioral targeting is higher than that achieved using contextual targeting alone.
Francisco Bernabé, VP sales for EMEA points out; “In today’s times, it is not enough to dedicate resources to be successful with the Media Plan. We have to be where they are, speak to them as they expect, and all of this is only possible through understanding, measuring, and optimizing the Media strategy. You have to eliminate what doesn’t work and enhance what does”,