Adstock is an important concept in marketing effectiveness. It was first quantified by Simon Broadbent in the 1970s. Its value lies in helping make marketing and media mix models more accurate by recognising that advertising and media investments have non-linear “carryover” response effects. These non-linear effects are normally grouped into two areas: the delayed effect … Read More
Coronavirus: why measurement is the key to ending the lockdown
Bill Gates once said “I have been struck again and again by how important measurement is to improving the human condition.” On April 7th, Mark Woolhouse Professor of Infectious Disease Epidemiology at the University of Edinburgh said ‘As things stand we could be out by a factor or 10 or even 100‘ [1]. Testing only … Read More
Unilever points the way by maintaining adspend in Coronavirus crisis
What is full funnel attribution in marketing?
Imagine this situation. You work in a large organisation as a digital marketing manager. You observe a sharp increase in GA direct, organic and brand generic web traffic. You want to explain the uptick but there’s nothing in your digital data that can explain it. However, you do know that your brand launched a TV/AV … Read More
What is the craft of media planning?
Over the last year people have been increasingly talking about the “craft” of media planning. Back in February 2019, Gideon Spanier the media editor of Campaign wrote, “the craft of media planing needs to make a comeback” and he further opined that “media planning has declined in importance in recent years – with serious consequences”. … Read More
Brands must grow before they can be harvested
Over the last decade, as an industry, we have become brilliant at harvesting the lower funnel. Every prospect who is showing “signals” of making a purchase can be digitally tracked and retargeted from the first flicker of interest to the point of purchase. This tracking has evolved to increase any one brand’s chances of closing … Read More
What is RFV analysis?
RFV stands for Recency, Frequency, Value. It’s a technique database analysts use to segment their customer data by plotting customers into a three dimensional space using three metrics: Recency – a measure of how recently a customer last purchased. Frequency – how often they purchase within a given time period. Value – the amount they … Read More
Best practice in marketing and media attribution to increase ROMI
Introduction This paper defines the marketing attribution problem and looks at the ways marketers can generate an accurate view of their return on marketing and media investment. There are lots of views, approaches and tools available to assist marketers with marketing and media attribution but unfortunately, most are limited in one way or another and … Read More
How to calculate cost per thousand (CPM) in paid media
Cost per thousand is a key metric in paid media planning. It’s important because it tells you the comparative cost of reaching the same volume of target audience in different media channels. Did you know that the cost of reaching 1,000 people in TV is about £5 and the cost of reaching 1,000 people by … Read More
How to calculate TV impacts from your media budget
Calculating TV impacts from your media budget is relatively easy. The formula is: Budget / CPT x 1,000 So, if your budget is £250,000 and your CPT is £5 then you are buying 50,000 thousands of impacts or 50,000,000 impacts. In TV media planning these calculations are usually based on a 30 second ad. But … Read More