We are currently amidst a golden age of measurement. As well as advances in the availability of continuous sales and usage data, the proliferation of digital media continues to give us new powerful ways to track campaigns.
Meanwhile growing computing power and developments in AI are fuelling a ‘big data’ revolution. Despite this wealth of data and analytical processing power, the reality is that measuring true ROI remains notoriously problematic.
The difficulties stem from the fundamental challenge of being able to isolate and allocate performance metrics directly to specific marketing activities. Consider for example; how can we determine how much of a sales uplift can be attributed to a sales promotion, when there are also TV and social campaigns running? Never mind competitor activity and other uncontrollable factors that influence campaign performance. While we’re making great progress in measurement, the truth remains that there is no silver bullet when it comes to measuring ROI.
Acknowledging the shortfalls, Savvy’s insight and planning team invested heavily over the past couple of years in research and the development of new best in class tools to measure and, crucially, optimise campaigns.
Savvy has written a whitepaper in which we have drawn on our experience and insight to highlight best practice and suggest how brands can take practical steps to improve their ability to measure returns in a holistic way. The paper goes on to share some of Savvy’s latest thinking and developments in campaign optimisation – since ultimately there is little point in measuring performance if the insights gleaned are not used to learn, refine and optimise future campaigns.
If you would like a copy of the report or would like to discuss how Savvy is helping its clients deliver better results and ROI, please contact Taj Sur.