The following blog post was recently published on Martech Advisor.
Pick your favorite analogy — the frosting on the cake … the center of a Tootsie Roll Pop … the final act of a stage play — In short, pick the analogy that best shows how the one thing leads to the other thing that completes it – the one being the vehicle for the other.
In life, we instinctively value and find satisfaction in completing a task. And yet, when it comes to advanced TV advertising, that instinctive drive for completion frequently goes out the window.
I often see advertisers and agencies excited about advanced TV precise audience targeting capabilities, yet they don’t realize the game is only half over, that the task is only half done – that precise audience targeting is a fine piece of cake, but only half of what the brand ought to be getting a taste of.
Enough with the analogies; the dead-on point is this:
The full value of precision targeting is delivering precision measurement.
Don’t get me wrong; precision targeting is crazy-exciting news for TV advertising, and with good reason. Since its inception, traditional broadcast TV targeting was limited to a mass marketing approach, where a brand would, at best, be able to target a general demographic — say, females age 25 to 54 — by buying spots on shows that over-indexed toward females in the target age group.
And so, no wonder TV advertisers are excited by precision targeting – where, for example, a retailer could use its frequent purchase data to target specifically those who have previously bought shoes during the retailer’s annual shoe blow-out sale to promote this year’s annual shoe blow-out sale.
No matter how you factor it, even with the higher CPM’s of targeted television, the math still tends to favor precise audience targeting for all but the largest brands.
But don’t stop at second base!
What I find is often overlooked in the TV world is that digital advertisers have also benefitted mightily from not just people-based marketing but also people-based measurement — the ability to measure campaigns based on meaningful business outcomes, such as whether people exposed to the ad made more visits to a store or purchased more of the advertised product than those not exposed…