We keep hearing that most marketers are guessing, check that, praying that their digital spend is actually reaching the right consumer. We haven’t talked to one marketer in the last 12 months that has any ability to understand whether they are hitting and engaging with the right people in their segment strategy that they spent A LOT of time and money on. This leaves many skeptical about the true effectiveness of their digital spend and long term value of the consumer funnel they are creating. And with media spending being one of the top five corporate line items being closely watched for waste, according to Accenture, they have every reason to be.
Resonate’s own Jason Schneider, Chief Revenue Officer, recently joined Mark Karlan, Director of Digital Marketing with Prestige Brands (75+ products such as Dramamine, Monistat and Clear Eyes) at the iMedia Brand Summit to present on this hot topic. Karlan expressed Prestige’s dissatisfaction in the lack of transparency in having accurate, quality data and tools that precisely measure the percentage of the time they were securing exposure to the right people within their segments across channels, partners and medium, especially if their ad spend was going through an agency or DSP directly.
Karlan cited a specific example where they discovered they were wasting dollars to reach a female-only audience for a female only product (trust me a male couldn’t use this) only to find through Resonate’s HiRes segment measurement platform that the ads their media partners were placing were actually being shown to an audience of over 40% males. This obviously reduced engagement and other KPIs significantly.
Schneider gave a compelling overview on how Resonate helps marketers avoid wasting digital dollars by using better data and easily measuring segment reach and engagement so marketers can stop guessing and praying, and shift spend to the right partners and channels. This is the next step in the martech evolution of gaining actionable insight in real-time and eliminating the blackbox of agency and DSP reach world. Transparency is finally here for you.
Schneider further explained a process of three steps: measure, analyze activate:
- Measure reach and engagement of any channel, partner, creative, owned property to a target segment
- Analyze deeper to understand what really makes this segment tick (e.g. price sensitivity or high quality) or create new segment from the “other people” that are performing
- Activate with better messaging to existing segment (in a better channel) or a completely new segment with the few clicks of a button
Find out more about how Resonate helped Prestige and other customers move from being skeptical about their digital spend to big payoff with more accurate data, insights and tools here.