There are different marketing campaigns used by marketers. One of the most common campaigns used over time has been television advertising. It’s generally believed that getting a television advertisement will reach out to many people. In turn, this is supposed to lead to numerous conversions as well. As attribution modeling has proven, this isn’t always the case. Marketing campaigns don’t work in isolation. They interact. It is therefore possible that television ads interact with other online advertisements to contribute towards a conversion. The question is how TV attribution can be measured in order to isolate the effectiveness of television ads.
Allocation of Resources
Like any other marketing campaign, it’s important to see how crucial the role of television advertising is in the conversion path. This helps a marketer chart a way forward regarding the budget and where more resources need to be allocated. If television ads are effective, then you get to increase the money set apart for the campaign. You can get the best advertising time slots and invest in production: the machinery required for shooting a particular advertisement and so on. TV attribution is also considered in conjunction with other advertisements, such as on social media and sites such as YouTube.
Challenges with Measuring Effectiveness of Television Ads
One of the main challenges facing marketers when it comes to measuring the effectiveness of television advertisements is time. For a long time, marketers put out an advertisement and then waited months to see whether or not sales would increase and by how much. With various software and direct response metrics, you can now find out just how effective your advertisements are in real time and within shorter periods of time, such as weeks. This is instrumental in informing your decisions as a marketer. You can discontinue an advertisement or intensify advertising based on the results.
Number of Calls or Website Visits
One of the direct response metrics used to measure the effectiveness of television advertisements is the number of calls that you get after the ad runs. You are able to know that the calls came from the advertisement by using special numbers people can only use if they watched the advertisement. The same applies for the number of website visits after the advertisement is on television. With the special URL included in the television advertisement, you can track how many people have been redirected to the site from a specific advertisement.
Used Coupon Codes
Another direct response metric could be linked to coupon use. As a marketer, you can place a built-in tracker that automatically traces back to the television advertisement. For example, you will attribute conversions to television advertisement if the buyers used a certain coupon code that was only provided on television during their purchase. This is straightforward but not foolproof. You need to consider that some won’t use the coupon code even if they saw the advertisement. However, it’s a measurable and traceable factor that you can use for measuring television ad effectiveness.
Time factor is another direct response metric you can use to gauge how effective your television advertisements are. Immediately after the advertisement airs, keep track of the sales that you get for a product, or downloads you get if you’re providing a mobile app. These conversions should be credited to the television ad campaign.
Apart from the direct response metrics, the universal currency or metric applied to television advertising is known as the gross rating point. The latter aims at reaching a wider audience for the lowest price possible, and this is known as reducing the cost per point. It, however, does not provide marketers with an idea of how effective the television advertisements are. For this, you need to consider the direct response TV Attribution metrics covered above.