As anyone in the dating scene knows, first impressions matter, but they certainly aren't everything. The same can be said for digital marketing. It's great when anyone views your ad, but it's even better when your target market views it, and better still when that view eventually leads to a purchasing decision.
Today's online buyers are savvy, not compulsive, so it's essential to look at the effectiveness of your advertising campaigns holistically and adapt accordingly. Jeremy Hudgens, CRO, Director of Client Solutions, makes the case for going "beyond the impression." But what does that mean? He continues, "You have to have impressions to get anything else. It's just about the right impressions, and the right impressions start with better targeting and proper attribution tracking. But how do you know what to target?" That's where Genius Monkey shines.
Going back to our dating analogy, after the first impression comes a long and twisty path to an ultimate outcome, Vegas elopements aside. It's not often we look at one marital trait--or metric--and make our decision. It's the total package we're concerned about, and that total package only becomes clear when we've considered each part of that package.
Placing an ad in front of a set of eyes is just the beginning. In an ideal world, the feedback you receive from that ad, or lack thereof, allows you to adjust your campaign accordingly. That may mean opting out of channels that don't return the desired ROI or investing in areas that do.
Genius Monkey does this automatically with its proprietary Omni Monkey algorithms. Because individuals touch many channels and devices on any given day, it is imperative that an ad campaign span across all channels, devices, and media types, leaving no stone, or even pebble, unturned. Certain campaigns may be ripe for specific corners of the internet, while others aren't. A best guess just isn't good enough in programmatic advertising. A guess based off of a single metric isn't much better.
An individual's path to purchase is as unique as their fingerprint. However, when we look beyond just impressions, clicks, or CPM, a clearer view emerges. Painting that picture is a Genius Monkey specialty.
Genius Monkey's attribution system tracks at a user-specific level, which allows us to place the right ad in the right place at the right time. Without full attribution, it's tempting to ditch a campaign or strategy because it isn't delivering the desired numbers in a specific area. But doing so could effectively lead to throwing out what is working, which results in a lower ROI!
For example, a buyer may have spotted an ad on social media, Googled that product without ever clicking on the ad, pulled up their local store's website to see if that product is in stock, and finally gone into the store to purchase it there. If we are simply measuring and basing our marketing decisions off the perceived failure of the last touchpoint or whether or not the ad was clicked, we would have lost out on that sale!
The moral of the story is that there are many fish in the sea--or monkeys in the tree--and effectively courting the right fit doesn't have to be difficult. In fact, Genius Monkey makes it automatic and very simple to you, the marketer, going beyond impressions to bring you to the buyer and the buyer to you. Now that's a match made in heaven.
Setting Up Conversions and KPIs (Part One)