Volume 6, Issue 8 - August, 2016
Yulia Altman, Senior Director, Visual IQ
Opportunities to reach consumers are vast, but come at a price. It’s a race between advertisers to beat the competition, get the best placements and secure the most eye balls. Publishers, DSPs, and search engines are reaping the benefits of this fast-paced environment, while brands and their executive teams are juggling priorities and trying to figure out how to reach their objectives without overspending. As a marketer, how can you stay focused in order to meet the ultimate goals of the C-Suite?
Your C-Suite probably isn’t concerned with the small, day-to-day tactical decisions you’re making, but those decisions add up and they better align against corporate objectives. Here’s how you can make your contributions visible and relevant to the CMO, CFO and CEO.
The Harried CMO
CMOs have a broad set of objectives, ranging from driving long-term brand awareness and brand health to delivering short-term results and sales. Balancing the two is no small challenge. To succeed, CMOs need to make critical decisions, such as how the budget should be split between brand and direct response to reach both goals without sacrificing one for the other; how to best allocate budget across channels and tactics for the entire year; and how to find new opportunities to test and maximize the impact of every marketing dollar spent.
As a marketer, you can help your CMO solve these challenges using attribution. First, you can use a Top-Down model to determine how to best allocate your budget against both brand and acquisition objectives. Then, using a Bottom-Up model, you can set your KPIs (site visit or other engagement proxy for brand and sales for acquisition, for example), implement an established media plan, assess baseline performance versus attributed performance against your KPIs, and monitor and optimize on a regular cadence as you work towards reaching your goal. An advanced attribution platform makes it easy to show your progress week over week, month over month, and prove your contributions toward driving those objectives to your CMO.
The Number-Crunching CFO
CFOs have a different set of priorities and responsibilities, all focused on financial prudence, budgets and efficiency. They require business cases and justifications in the battle for annual budget or additional funds. What better way to impress the CFO than using advanced measurement to quantify your achievements and properly estimate your needs? Imagine showing your CFO how you were able to exceed your goals within the given budget by quantifying your efficiency improvement. Picture his delight when you tell him you have an opportunity to drive incremental value without increasing the budget. By making attribution part of your operations and leveraging its inherent power to maximize results, you can prove your ability to be both an effective and efficient marketer to your CFO again and again.
The Demanding CEO
CEOs focus on big picture, long-term goals and business growth. They are the face of the company to the outside world and the visionary for those within. They rely on the contributions of every individual within the organization. So why would attribution matter to someone that high up? Because the role of marketing feeds right into what is critical for the CEO: building brand awareness, reaching new audiences and creating a positive, memorable image of the brand. Unless you focus on the right opportunities, it’s easy to overspend on flashy tactics, such as homepage takeovers, sponsorships or premium TV spots. With attribution, you can accurately measure all media interactions against a brand or sales goal and make smart decisions on what is worth spending on and what is not. Your CEO knows the best way to keep the competition at bay is to stay one step ahead. Proving how your media and marketing is pulling its weight in helping to drive competitive advantage and business growth can go a long way towards making a lasting impression on your CEO.
Attribution fits into every aspect of a company life and can empower you shine to the C-suite. Use it not only to show them how your KPIs and initiatives align with their goals for brand image, revenue and budget efficiency – but to prove your value again and again.
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