SEAT Global Magazine - Sports Industry Case Studies Issue 06 August/Sept 2017 - Page 35

The question you

should be asking is: Is our media targeted at the right

consumers and at the right time?

As CEOs, it’s our job to remind them. After all, marketing teams can aim and fire, but without a higher purpose they will never hit the appropriate target — or

rather, the appropriate customer. Asking our marketers the following mission-driven questions will ensure that they do by encouraging them to recalibrate around long-term returns instead of short-term metrics.

1

What’s our approach to attribution: single-source or multi-channel?

This question should be at the top of every CEO’s mind. As technology becomes easier to access, CEOs should push their marketing teams to take a hard stance on attribution. How do we know which marketing campaigns are working? How do we know that we’ve correctly allocated our media mix? Although it sounds difficult, answering these questions should be easy in all but the most complex organizations.

If their marketing teams are still talking about single channel attribution, CEOs need to perk up and dig deeper. Answers that should concern you include: “We are paying a very low cost per thousand (CPM),” “our cost per click (CPC) is wonderful” and “we delivered an amazing amount of impressions.” Such answers tell you that your organization is focused not on consumers, but on media. With the technology and service options that exist today, marketing teams should focus on deploying fewer channels, not more. Starting with the right consumers is crucial, as companies that understand their prospects can

measure their penetration rate among very specific

individuals. Media should be more expensive if you are targeting correctly. Who cares if you deploy millions of impressions at a very low CPM?

"

The question you

should be asking is: Is our media targeted at the right

consumers and at the right time?

Most organizations can solve for this by using the principles of lift measurement to determine marketing’s impact on specific targeted consumer groups. For

example, you can isolate the incremental impact of your advertising by conducting A/B experiments in which

random groups of consumers are intentionally not exposed to advertising. This can be done across both digital and offline marketing and is the most accurate way of measuring attribution.

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