How to Assess the Effectiveness of Different Forms of Advertising
The ability to accurately measure advertising’s effectiveness has improved tremendously in recent years. In fact, the tools at our disposal today have never been more accurate, more effective or more powerful.
Deciphering, comprehending and utilizing the mass amounts of data being generated can be quite time consuming... and daunting. This is why it’s mission critical that your media plans are thoughtfully conceived and thoroughly developed. And that entails doing your homework.
Start by asking yourself, “Will the money we’re investing deliver the results we want and need?”
Well, consider this...
Without a clearly defined target audience for your advertising, your investment – let alone any return on that investment – is very much at risk.
To help navigate your journey and reach your goals, follow these 4 easy steps:
1. Know your target audience
2. Evaluate available platforms
3. Formulate your strategy
4. Analyze your results
It’s imperative to assess what works – and perhaps even more importantly, what doesn’t – before implementing a plan.
For marketers in the intensely competitive arena of the automotive aftermarket industry, there are three primary ad platforms worthy of serious consideration:
It’s beneficial to compare them to see how each stacks up in terms of both their audience delivery and their measurement capabilities. You’ll also want to look at other factors such as distribution reach, cost per thousand [CPM], engagement levels and interactive opportunities.
For instance, while digital media can leverage the latest advances in technology, CPMs are high and targeting consumers becomes more difficult in an increasingly fragmented online world.
And while traditional print publications are clearly at a disadvantage in terms of technological improvements, ad rates can be pricey even as readership continues to decline.
Despite the much-heralded death knell of linear television, it remains the most efficient and cost-effective delivery system for advertising messages.
As the industry evolves from broadcasting to narrowcasting, the medium’s ability to reach specific demographic targets continues to improve. As an alternative to the so-called “spray and pray” approach, savvy marketers are taking advantage of
opportunities on highly targeted networks offering customized in-show integrations within genre-specific programs.
What works best for you?
Give it some thought. Research your options. Let us know how we can help your company achieve its goals.