Last week, TVSquared launched the first maturity model for TV performance analytics. Consisting of five stages, it was designed to provide an accurate view of where an advertiser falls on the path to TV analytics maturity. This week, we’re going to explore each stage in more detail.
Before we dive into Level 1, if you haven’t taken the three-minute questionnaire to find your brand’s position on the model, do so now! Along with your personalized score, you’ll get an ebook to help set you on a path to becoming a “TV Leader.”
Now, to the topic at hand – Level 1: Initial.
The first step on the maturity model applies to brands that look at TV campaign performance in hindsight, and buy and design TV based on ratings. Among Level 1 advertisers, we typically see brands in the category:
- Rely almost exclusively on ratings and/or reach and frequency metrics (CPMs, GRPs, etc.) to gauge performance.
- Perform retroactive analysis on campaigns in the months after they air.
- Use different models, tools and datasets with no unifying standards (in cases when technology is used).
Level 1 advertisers measure TV in the most traditional sense: reach. But TV has evolved into a performance-marketing channel that can be measured and optimized in real time (just like digital!).
While ratings are useful when it comes to brand awareness, they don’t tell an advertiser crucial details about spot performance – whether it was seen, recalled, drove response or influenced purchases. And because Level 1 advertisers gauge TV performance after the fact, they miss out on in-flight optimizations that can maximize campaign effectiveness.
If you’ve found yourself at Level 1, don’t despair. There’s nowhere else to go from here but up! To get to Level 2, you should:
Think differently about TV
- It sounds simple enough, but many advertisers still consider TV only for reach and frequency. But linear is a major driver of digital response. It’s time to think differently about how TV can impact your bottom line.
Start with a TV performance retrospective
- Leverage historical performance data to uncover what worked and what didn’t for previous campaigns. This will arm you with the insights needed to optimize your next TV initiative.
Be ready to measure and optimize
- Get the right analytical tools in place to provide real-time views into how TV buys drive response. Use these to get insights to dynamically manage campaign performance.
Later this week, we’ll talk Level 2 …