Now more than ever, advertisers need clarity of what is and is not working in their advertising mix. John Wanamaker (1838 – 1922) was a very successful merchant opening one of the first and most successful department stores in the United States, which grew to 16 stores and eventually became part of Macy’s. He is considered by some to be the pioneer in marketing and famously said, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half”.
Does that resonate with you as a business owner? In the year 2020 shouldn’t we know?!
The rapid growth of digital advertising over the last decade has provided more data to track effectiveness and ROI than ever before and for the first time ever in history a medium other than Television owned the bragging rights for the most advertising spend in 2019. Way to go digital, but what about Television? One would deduct that over the last few years, advertisers have swayed from traditional advertising mediums like Television that did not have effective ROI tracking.
But wait! Attribution technology is now being utilized like digital to specifically identify the contribution of TV exposure on behavioral outcomes. TV attribution provides a view into what is and is not working. Having the data to know which dayparts, networks, programs as well as creative is driving traffic and results is something every business needs to be aware of!
We at Miller are committed to the success of our clients advertising campaigns. Attribution modeling is one of many tools we use that allows us to optimize your advertising campaign with clarity and moving the needle towards no waste in your advertising budget.