The value of online advertising & awareness
Some good research from Nielsen came out recently as you may have read in B&T and Digital Media that argues the value of online advertising in terms of recall, recommendation & purchase influence.
The research also revealed intention to purchase increased by 4.9% following exposure to an online advertising campaign, with brand sentiment increasing by 5.3%.
Display advertising also correlated with a rise in awareness, with top-of-mind awareness jumping 3.1% while prompted awareness increased by 3.5%. The likelihood of a consumer recommending a brand following exposure to an online advertising campaign also increased by 4.4%.
This leads me to 2 main thoughts
1. How does this compare to TV, print & radio? (using the same benchmarks & research approach)
Without context these numbers might be under or over valued as it could smash or be smashed by these other channels? It would be good to put them side by side to see how they interact. And what’s the impact when multiple touch points occur, say TV & Online, does it improve, reduce, increase, change the impact of the communication?
2. More importantly can marketers drop their addiction to clicks?
Clicks, performance & data are both the power and the Achilles heel of digital media. Thanks to many publishers, like Google, you can buy a visitor to your website. This is great because it reduces the risk, it’s not so great because the value of the exposure to media (banner, search result, edm, etc) is missed, all the focus is on the click.
So what?
I recommend clients establish an ROI (return on investment) calculator, where you add up all the outcomes from a campaign and compare it to the cost of the communication. This helps you learn & evaluate performance in a more balanced and reasonable manor. (I’ve explained how to create an ROI calculator here)
One piece of the ROI puzzle should be exposure, it may not be as valuable, but it has to be considered.
This kind of research helps us understand the value, however, we (marketers) need to assign value to it first, both rationally and in our guts.
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