Measurement-first: What does it mean and why is it so important?
You’d be forgiven for thinking that marketing measurement is more or less one dimensional. That it’s about determining which advertising channel better converts a sale, or which creative best enhances a customer’s experience. In truth, it is multi-dimensional, granular and relentless. Let us explain.
Consumers are exposed to multiple touch points along the path to purchase. From awareness to conversion; potential buyers are faced with different messages, on different channels, at different times. Each of these touch points carries influence. The trick is understanding this influence; what actions or behaviours are inspired, why, and how does that action or behaviour contribute to the ultimate achievement of your unique business objectives?
Big Questions Lead to Big Answers
At Agnes Media, you’ll hear us refer to ‘measurement-first’ a lot. Put simply, it’s the data-led approach we take to optimise and enrich your media strategy, all to drive the specific results you need to succeed. In detail, it’s a complex but essential marketing practice of incredible value, allowing you to meet your key business objectives, maximise ROI and drive the most profitable outcomes.
The Problem with Connecting Data
Marketing measurement is a convoluted space with vast limitations. A lack of understanding of measurement and attribution has unfortunately resulted in a big disconnect between media and the achievement of key business objectives. The reasons are manifold:
Misaligned KPIs (e.g. CEO looks at ‘X’ while CFO looks at ‘Y’, which creates competing goals)
Focus on unsuitable and / or ‘vanity’ metrics (e.g. celebrating a low cost-per-lead, when 80% of leads are irrelevant)
Disjointed platforms and legacy tools
Rapidly evolving technology and software updates (e.g. iOS14 updates)
Limitation of available data and / or the maturity of a brand
Walled gardens and cookie-less environments that limit measurement as they dont speak to one another
As Google puts it, data is a game changer. But without the ability to derive valuable insights from information, that data is useless. At best, you’ll have a handful of vanity metrics; insights that look pretty on paper, but ultimately don’t tell you much. And the landscape is always changing; case in point, the looming cookieless future. Is your business ready?
The Real Game Changer
At Agnes Media we take the measurement-first approach. It’s our jam; our heart and soul. It’s about harnessing the power of both analytics and measurement to build meaningful media campaigns that directly influence consumer action (or a series of actions) when and where it matters most to your business.
“We start by identifying the key metrics of success for your business - the results that really matter to your bottom line and growth trajectory - then we craft custom campaigns based on those metrics,” says Charlotte Ward, Agnes Founder and Director.
“By taking a deep dive into each and every touchpoint along your customer’s path to purchase, we’re able to recognise at a granular level what specific actions are required to see your business succeed,” she says. “Most importantly, we keep measuring our momentum and learning and optimising, all in real time, to continuously improve the results we generate”.
Ultimately, measurement-first marries art and science to drive meaningful results you can see, measure and understand. Now there’s a game changer.
Measurement-First Divided By Three
At Agnes Media, we define the measurement-first approach as harnessing and delivering three core attributes; growth, efficiency and connection.
Measurement-first puts a spotlight on real-world results you can see, measure and understand. It’s why at Agnes, we first work with business owners and key stakeholders to set media KPIs aligned to your commercial objectives. In understanding the metrics that matter most to your business, we’re able to maximise your return-on-investment (ROI) and scale up the most profitable outcomes.
Measurement-first gets the most out of your owned and earned media channels, with proven ad content tailored to your audience. It’s why we use measurement frameworks tailored to your business to identify and implement appropriate optimisations. It’s this continuous calibration that improves performance and maximises the power of your advertising budget.
Measurement-first connects the dots to provide a single source of truth. It’s why we provide all of our clients with custom dashboards that can be viewed at any time for full campaign transparency. This careful curation of insights from across all key platforms, not only enables a complete view of media performance but demonstrates how that media is contributing to business success.
Measurement-first is an intricate approach to media with powerful results. A complex practice that makes for obvious results and straightforward decision making, it’s how we do things at Agnes Media. Keen to explore a measurement-first approach for your business? Let’s chat!
Call us on (02) 8593 3290 or email Hello@Agnes.media today.