The world of football can teach us some valuable lessons when evaluating online effectiveness
The usage of analytics in football is growing. The old world would focus nearly exclusively on the striker, given the ease of defining success by the simple, tangible number of goals. Today, aided by statistics, there is much more of an understanding as to how the right combination of players, skill sets and formations throughout the whole team, not just the strikeforce, are crucial for scoring goals and ultimately producing success.
We need to understand detailed digital performance in the same progressive manner. This is important as the channel continues to grow and develop, forecasted to be up 10% in 2017 to over £9bn, making up nearly 50% of all advertising spend. Mobile accounts for the lion share of this expected growth. The 21st Century success story however remains entrenched in a 20th Century measurement world. As concerns grow over viewability, ad fraud and brand safety, many are starting to question the value of digital and whether we are spending too much valuable marketing budget within this vast and varied landscape.
Accurate measurement of digital by taking advantage of all the available information is critical. This cannot be silo-ed thinking either - we need to know how it measures up against all aspects of the marketing budget. Both in terms of the contribution of each media channel and also the interaction of those channels working together to deliver return as a whole. Measurement is key at all stages in the marketing process and the right techniques are critical to deliver short and long term success.
We believe that multi-touch digital attribution plays a fundamental role in this comprehensive measurement strategy, alongside other analytical techniques such as econometrics and brand health modelling, to gain the full picture on the return of the marketing investment. We also know that approaching digital attribution can be confusing and complex – with this in mind we have written a guide to hopefully get you started on the right track.
Written by Matthew Wragg, Director, Business Science UK