September 9, 2016

Measurement and Validation

There is no denying that mobile digital advertising has become a key component for brand marketers. Recent data indicates that there are more than 200 million smartphone and tablet users in the United States. Mobile now represents 65% of all digital media time, with mobile applications dominating that usage. Since 2013, desktop has lost 12 percentage points and has now receded to 35% of digital time spent.

But, while it’s pretty clear that mobile is continually on the rise, marketers would be remiss to place all their eggs in one “digital basket,” and allocate 100% of their advertising budget to mobile. That’s because, contrary to what some believe, conversions are still higher on desktop. In fact, most e-commerce transactions are still taking place on the PC, so a multi-platform strategy is essential.

What marketers should be doing, is using proper attribution; tracking everything from the impression, right down to the conversion so that the ad-spend is being properly proportioned to smartphones, tablets, desktops, etc. But did you know that nearly 60% of digital advertisers lack the tools, and timely data, to accurately measure their digital ad campaigns? Over 80% of current marketers are still relying on impressions and clicks to measure the effectiveness of their digital ads and video ads.

John Wannamaker would probably not qualify as a household name, but he was an entrepreneur in Philadelphia, opening the first department store there in the late 1800s. He is widely considered to be one of the forefathers of advertising, and credited with the famous phrase: “Half the money I spend on advertising is wasted; the trouble is, I don’t know which half.”

Validation must be built into an ad campaign, as marketers are subject to a great deal of bot traffic. If marketers don’t have a plan in place to measure and validate, they won’t ever know how much of their traffic is legitimate, and how much comes from bots. To date, non-human traffic (including fraud) ranges between 4-11%. These bots cause incorrect figures, which causes advertising budgets to be mistakenly allocated or, in simpler terms, wasted. The key to minimizing the waste and maximizing the performance of the ads lies in measuring, validating and analyzing the response to the ads put out there.

Genius Monkey has all of the tools to measure and validate; all built into one platform. Our system will allocate funds accordingly across any device, based on how it’s performing, not just whether it’s mobile or desktop. This takes all the guesswork out of how much marketers should spend on which screens. It all depends on how effective they really are.

As online-based media increasingly becomes the primary focus of peoples’ attention, marketing on both mobile and desktop devices continues to be the biggest business opportunity for most companies.

Genius Monkey offers their clients two of the most important tools of programmatic marketing for both mobile and desktop. They are “targeting” and “measurability.” This helps marketers determine which half of their advertising dollars have been working, and helps us to make the other half do the same.

Interested in learning more about how Genius Monkey can boost your conversion rates today?

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