5 Digital Media Myths You Need to Stop Believing In
I’m going to break it down for you. Most of digital media marketing is being implemented and measured – WRONG.
And I’m not just saying that, I really mean it! They’ve taken human behavior out of how they measure the effectiveness of their digital media efforts and they’re attributing sales either to the wrong channels, or to nothing at all. As if these sales just appear out of nowhere.
Here look… Here are 5 myths that I have to redefine and educate about, every day.
Myth Number 1: Lots of impressions = great branding
Why is this a myth? How is this not true? Well first, a myth is a widely held but FALSE belief or idea. That’s what this is. Great branding is so much more than just impressions.
What do impressions do for a brand? I’m Joe’s Heating and Air and I got a ton of impressions on my banner ad. How does this help me? It doesn’t. Why? Because of something called Banner Blindness. People don’t really see the ad, and even if they do, they don’t remember it.
In addition, and this is the big one: If you send your ads to people who already aware, then you are not increasing awareness, your just adding noise.
Impressions do NOT equal great branding. (Tweet this!)
NOW. If you are interested in understanding the branding impact of your digital campaign, we would recommend conducting a branding study during your campaign.
Branding studies measure brand favorability among consumers who have seen your ad and those that have not. The change between those two groups is your brand favorability increase.
Hopefully your exposed consumers have a higher degree of favorability than those who have not seen your ad. That means your ads worked!
Myth Number 2: My sales came from the last-touch of my ad campaign
Really? What about the billboard, two re-targeted ads, and promo video your customer also saw before finally coming in with the email coupon?
This is one of the most misunderstood areas of measurement. Many, wrongly, attribute 100% of their sales to the last-touch of the ad campaign before they come in to buy. Your customer didn’t just jump from knowing nothing about you to buying from you. There were other steps before that happened.
It’s important to look at the whole journey and see where your customer is spending their time; to see which tactic used had the most impact on your customer deciding they were going to buy from you.
Myth Number 3: Viewability of an ad isn’t important if you’re getting results
It’s impossible to measure results correctly if you are not considering viewability. We already discussed the perils of using “ad views” as a critical metric.
Ad View reports say, “Well, this person came to the same page your ad is on – therefore, they saw your ad.” But what if to see your ad they had to scroll down to see it, but they didn’t? Banner blindness is real, and just because its “on the page” doesn’t mean it was seen.
If you are taking credit for view-through conversions, and you, at the very least, are not deducting conversions from “below the fold” ads (the ones that are unviewable), you are simply overstating results.
How can an ad, that was never even seen by a user make the user take an action?
Its impossible. A marketer’s job is to connect a company’s message wit the right consumer. If you’re not concerned about viewablity, then your not reaching the consumer.
Myth Number 4: Programmatic ad spending will overtake traditional television as more consumers move online
Digital advertising, especially programmatic buying, will continue to grow, and continue steal share from traditional media. Consumers are more digitally savvy, and marketers want accountability. This leads us to the digital landscape.
But let’s be real here. TV isn’t going anywhere, at least for the foreseeable future.
As long as people still talk about last night’s episode of the big show (This is Us, West World, Walking Dead etc.) around the proverbial water-cooler, then advertisers will coalesce around these shows. People are watching more TV, not less.
Yes, we’re multi-tasking as we watch. Yes, the way TV comes into our living room is changing, and yes, the days of big rating numbers dominated by the 3 networks are over as the number of channels explodes.
But, we like to watch TV. And advertisers follow the eyeballs. And that’s not changing. And here’s the secret your digital team isn’t telling you.
Television is cheaper than digital. You heard the correct. TV is cheaper than digital. (Tweet this)
The average CPM (Cost-Per-Thousand) of broadcast television, across the major markets of the eastern U.S. is $6.75. The average CPM for a :25 video unit online is $16.50.
When you need to reach a mass audience, TV will always be the cheapest channel. Effective marketing harnesses the scale and reach of television with the targeting and depth of engagement digital provides. Marketers need both.
Myth Number 5: Conversions aren’t as important as traffic to the website.
Really? That’s like saying I just want people to come my restaurant, but I don’t need them to order anything. Last I checked, website traffic didn’t pay the bills (unless you’re a publisher, but I digress).
You need sales to pay the bills. While not all conversions are sales, understanding what people do on your site, and getting them to do the things that are of value to you is what drives sales. Web visits alone won’t cut it.
In addition, if you are just measuring clicks and visits, you are likely making bad decisions on where to spend your dollars. You could (and likely are) spending money on poor quality traffic which leaves your site as soon as they arrive.
Or you could be getting a bunch of bot traffic (fraudulent traffic that’s not a real person). But you don’t know, because your just measuring visits.
By measuring “post-arrival actions” you can begin to measure your media’s ability to deliver qualified traffic, and from there you are your way to successful digital advertising.