• GCL_2012

    Interesting article.  However, I wonder how you reason assigning a monetary value on various online actions within a pure branding campaign.  Unless there is a definable value associated with a user completing an action based upon a real conversion rate, how would you go about determining a value for that action? Even in a branding campaign, you could be optimizing to the “wrong” thing unless you had some research showing that user who retweeted you was more likely to purchase your product/service.  Then again, they may have already been a brand champion.

    I’m not arguing that these actions do not have value.  I’m also 100% with you in the need to analyze and manage branded vs. non-branded campaigns separately.  So, what’s the data-driven way to generate those values?  “Intuitive reasoning” sounds similar to what traditional advertisers started with and eventually lead them to that claim of $40 ROI for their newspaper ad. 

  • http://twitter.com/MReeVasquez Emary Vasquez

    I’m with you on that lack of clarity still…the end data table brings it all together but that middle step is still what has me scratching my head. Thanks for this article though! It’s definitely time to start working towards reporting on successes, efforts etc with more “concrete” (intuitive) data…

  • George Michie

    Thank you for your comments, folks.  GCL, I agree with you that we may not be able to tie the thread completely.  Econometric modeling studying the impact of the full media mix online and off can help gauge the relative importance of channels and help us get a better understanding of the value of each of these interactions, but even that is far from an exact science.

    I’d argue that using intuitive guesses about the values is a good first step.  If we make some estimates, drive by those estimates and see what happens overall, we may find that we’ve guessed well and overall revenue growth (or brand sentiment) moves in the direction we want, or we might find that driving by these guesses doesn’t help much.  Refactoring and trying again is the way to go. 

    Even if we’re guessing and then measuring the effect of those guesses, we’re applying the scientific method in a way that is fundamentally different from driving by intuition without disciplined follow up and refactoring.  The difference is in establishing that scorecard and sticking to it until we have evidence that it needs adjustment; then making the adjustments and using that.  I think too often in media buying every decision is made ad hoc by intuition with no agreed upon scorecard or mechanism for adjusting what we do based on outcomes.

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