How TV Ratings Can Help You Understand the ROI of Digital (Part 2): What should your digital benchmark be?
The transcript of a presentation I made, explaining a framework for digital metrics, ROI and purpose.
In Part 1 of this set, my goal was to show a one-glance way of interpreting the returns of digital and TV advertising.
The aftereffect of such a measurable platform: Ethics and meaning
Having said that, Ive always wanted to ask brand owners this: what does it matter to you if you gain a like only because you told that person you’d give him a prize for clicking that “like”?
Look at how you “like” things. Does it give you a positive impression of a brand if they just command you to “like” them in exchange for a prize?
Professional promo joiners are a reality because of this — the digital version of coupon-hunters. (Mostly) Moms whose Facebook and Twitter accounts are a stream of shared promo mechanics from different food, clothing, restaurant brands.
Digital doesn’t just need to be a collection of people you reward for allowing you to post your brand-feed to their wall. If you’re satisfied with that kind of relationship, I won’t stop you. I’ll judge you, but I won’t stop you. Because maybe that’s how you see the “ROI” of digital.
As many global brand-makers say, online media is about relationships, and brands are now becoming more and more “human”. It’s about being a relevant part of people’s lives.
Why the difference in fidelity of measurement?
It depends on the nature of medium.
Broadcast is about REACH. Reach is the primary measure of broadcast advertising, because it’s the only thing you can immediately count through one-way media.
Digital is about building a lasting relationship. You can talk to people through it, and individuals actually perform actions on it. It’s why Wolff Olins calls this the fifth stage of branding — enabling action.
It’s the logic behind Google and Youtube’s pay-per-click business models. You only pay when interested people click on your ad. You’re actually sanctioned for impressions that don’t lead to visits. Your “quality score” goes down when a lot of people see your brand, but they don’t click on it. It means you were showing your brand to people that it wasn’t relevant to (or that your ad sucks).
It’s the most direct way of saying: Digital isn’t measured like TV (with a “rating” figure representing just one action). On digital, it doesn’t matter that you’re reaching A LOT of people, but reaching the specific people you want to have a relationship with, in the way that you want to.
This is so much more difficult to “track” because the measure of digital isn’t fully quantitative — you need qualitative analysis (i.e. content analysis). It isn’t just about the number of likes, but the quality: What are we saying that people are “liking”?
If 60% of your fans are commenting about how you remind them of home, then your online relationship could be about offering a bridge to their roots.
This is why being online isn’t about bombarding people with ads, but finding ways to extend your brand’s life in a way that will make people care.
You think Beyonce is worried that she has fewer Instagram followers than Rihanna? Or that McDonalds is panicking because they have fewer American followers than Subway?
Digital success is about whether your social media account is communicating what you want your brand to be, rather than sheer number.
Thoughtful Marketing: Are we more of a Follow or a Hashtag?
“Award-winning”
You know why The Daily Twist won an award? Yes, measurement wise, it resulted in yada-yada number of followers and buzz, increasing interactions by 195% from the previous three months...
Oreo could have easily given away thousands of dollars and just PAID people to follow them. But just getting high numbers isn’t the point, is it?
The point is they found a fresh perspective on being part of people’s every day lives. One that entertained and amused people enough to follow them.
“Oreo, 360i and Draftfcb were successful because they had an approach that used creative talent designed around a marketing structure to keep pace with, listen to and connect with people. The structure is like a current-day version of a newsroom environment and people love it” — Mark D’Arcy, Facebook’s Director of Global Creative Solutions
The “Follow” versus The “Hashtag”
Nike is not the most followed brand on Instagram. BUT. They’re the most hashtagged.
It’s truer to their core — they’re an apparel brand, so people use their name every time they wear their shoes and clothes, even when they aren’t interested in seeing product updates.
National Geographic is the most followed brand, but they aren’t hashtagged, because not as many people can use #natgeo in their everyday life as frequently as #nike.
So, again, digital is about thoughtful marketing. It’s about asking your business — how do we want to be part of people’s lives from a content or service perspective? It’s why brand personality and objectives are VITAL on digital media. It’s why Account Executives have to be especially nitpicky about asking these things.
Leveled-up awareness: Depth and Dimensions
I follow Oreo on Instagram.
I’ve loved them for years — and their Instagram account shows me interesting ways to eat, and see a product I love.
It isn’t convincing me to be “aware” of them. It’s just helping me broaden my love for them.
Brand Extension
Red Bull’s stellar use of digital, again, isn’t solely about brand awareness.
It isn’t that people don’t know Red Bull. But Red Bull wants to show people that they’re a whole new brand now. So it isn’t about reach-for-awareness’s sake — but comprehension. They want people to get to know them as a lifestyle brand. You measure “comprehension” and you target “relevance” or “community”, not “awareness”.
Digital is a great challenge to brands, and the marketing industry. It forces you to think of the conversations you have with people, beyond just producing and selling a commodity.
What are you really after online? And, how much is that worth to you? That’s what you should be tracking and strategizing for.
In the next days, I’ll be sharing more of what I wrote on the process of planning a digital platform. I hope this helps, even if it may sound much more like a rant. Feel free to tell me what you think, and whether this model can be clearer.
