Is post campaign intelligence helpful? The short answer is, YES! Once a campaign is completed, Attribution products can tell marketers how the campaign impacted in-store visits as well as user traffic patterns, audience insights and much more! Now remember, not all Attribution products are created equal (that's a story for another time), let’s take a look at 3 key insights marketers can leverage for their next campaign.
What’s new in Cuebiq’s Attribution Dashboard and how it will help marketers address their most pressing questions.
Is my advertising actually driving consumers to store? Is there any difference in how distinctive consumer segments are responding to my ads? How well are my campaigns performing compared to others in my industry?
Until location data came about, marketers relied on digital metrics like Viewability, CTR, Engagement, CVR (Conversion Rate), etc. to understand campaign performance in real time - however, these type of metrics only judge the online effectiveness of digital media campaign. While an Ad might have overperformed industry benchmarks with a high CTR, high engagement rate and had a 100% Viewability, did it actually drive consumers to store? An Ad may have converted a large number consumers because it drove traffic to site or a promotion but did these consumers eventually make it to the offline destination? These digital metrics help marketers gauge how a campaign is performing online, but they never truly measure the offline impact.
As a marketer, understanding consumers’ behavior has always been of paramount importance to me. Who are they, what are their passions and interests, which brands do they prefer… Location data came to marketers as the holy grail, promising an unprecedented opportunity to understand audiences, help effectively connect with them, and ultimately measure the impact of marketing efforts. However, the marketplace is filled with so many data providers and products that it has become a challenge for us marketers to identify the best data sources. Which brings me to the elephant in the room, what should marketers be aware of when looking for the right data to help them bridge consumers’ online and offline worlds? What matters and what should be disregarded?
“Success usually comes to those who are too busy looking for it.” - Henry David Thoreau
Cuebiq entered the marketplace in 2016, with a mission to provide brands and marketers access to actionable insights derived from accurate and precise location data. It has been a little over a year since our launch and the results have been truly amazing. Cuebiq’s rapid rate of growth and expansion validates our core mission in the marketplace and the importance of high quality location data.
I had the pleasure of attending the annual Millward Brown Digital CMO Summit last week. The theme of the conference was “Breakthrough.” Highly relevant given the age we live in. This is a world with more ads and less attention, that now requires brands to build creative that not only reaches consumers across multiple channels and devices, but has the ability to stop them in their tracks. With consumers seeing on average 132,130 ads per year or 362 a day, the conference highlighted the importance of content, building creative for a mobile first world, audience understanding and last but not least measurement.
I’m excited to share the news that I have joined Cuebiq. Well - I’ve actually been involved with the company for some time, beginning early last year. I was first introduced to Cuebiq through the Angel Round Capital Fund, (thanks Jeff) in which I’ve been a Limited Partner since 2011. The fund is a co-op of angel investors of sorts with the primary vision of investing in New York Metropolitan area early stage technology companies with strong growth potential. As a member of the fund, you have the opportunity to invest additional capital alongside the fund, giving early stage companies the opportunity to raise significant capital. As an active member, I also participated on the evaluation committee, selecting the best companies from those seen to move on to present to the general membership for investment. I’ve probably seen and heard close to 500 hundred pitches over the last 6 years. While the fund has invested in some exciting companies -- including Kansas (acquired by AOL), UpNext (acquired by Amazon), Human Demand (acquired by Ignition One), YieldMo, Cirrus Data, Crowded and more -- I had yet to do an incremental investment. That is until now (Cuebiq) and I wasn’t the only one.