You might be surprised at who is offering this prize money.
Yes, that’s right. The Association of National Advertisers.
In other words, your clients.
Willing to pay out fifty big ones to prove that analytics are more important than research and strategic planning when it comes to marketing decision-making.
Thing is, I never saw them as an either/or. Do we use strategic planning or real-time data for this campaign?
I always saw them working together, more like hand-in-glove.
The stronger the strategic planning, the more impactful the real-time data should be.
What I think real-time data does offer is interim measures of accountability and/or ROI.
Each action the marketer takes has an accompanying reaction on the part of the consumer. I say this because each consumer walks down his or her own pathway to purchase. Real time data tells us where on that pathway we lose them. Or, don't lose them.
Someone – media/creative – is responsible for suggesting and implanting each of these actions. And that’s where real-time data fits in. To hold that particular party accountable for that particular action on the part of the consumer.
Data can measure and report on these interim actions. Hell, let’s call them what they are – investments. The consumer’s action, or lack thereof, is the return on that investment.
That's why it's called non-transactional ROI.
The better an advertiser’s interim, non-transactional ROI numbers are, the better their total marketing ROI will be.
And that’s what I would tell the ANA if so asked.
You, of course, can say what you want.
Contest closes August 1st.