When it comes to measurement, there are new solutions popping up faster than you can spell “analytics.” Knowing when to utilize these innovative tools and which are most suitable can often make or break a campaign. Here at Butler/Till, we use a strategic process to determine when third-party solutions make sense, and it all starts with those three powerful letters: K-P-I.
Setting the KPIs
The first step during the measurement framework process is setting our Key Performance Indicators (KPIs). KPIs are metrics that allow us to answer the question “were we successful?” We establish KPIs that are in alignment with our goals, so if our goal is to increase awareness, our KPI may simply be “brand awareness.”
Identifying the Gaps
The second step is to locate the data that will be used to measure this KPI and identify any gaps in the data that may prevent accurate measurement. We first consult our clients to determine if they have the relevant data needed in-house. However, this data is often not internally available to provide awareness metrics that allow for a private, safe, test, and control methodology directly attributable to media exposure. In these cases, we need to identify the right partner who can support our measurement strategy.
Evaluating and Selecting Measurement Partners
Once we have established a need for a third-party measurement partner, we need to identify, evaluate, and select that partner. We have many preferred partners for a variety of studies. When we have identified the need for a study, we establish requirements for that study and request proposals from our partners to help contribute to the development of an informed, data-driven recommendation to our client, based on our specific campaign needs.
Collecting all the tools in the measurement toolbox is only half the battle. A successful analytics campaign starts with the understanding of which tools to use and when they’ll truly be valuable for each specific KPI.
Third-party solutions are a major component to achieving data-driven results. So which partnerships should you forge to fulfill your given strategy? That takes a strategy of its own.