With more and more viewers tuning in to their favorite shows online, it can be tough to track the impact of television ads with any kind of accuracy.
You want to make sure you’re reaching the right target audience and not wasting your ad spend, but how exactly do you do that?
The answer lies in having the right television attribution model.
In this blog post, we’ll walk you through how to craft an effective model — and what the future might hold for marketers. Let’s get started.
Understanding Television Attribution
While digital advertising has certainly been stealing the spotlight in recent years, it’s important not to overlook the power of a well-crafted television ad.
But how can we measure the effectiveness of a television ad? How can we attribute the results back to the ad itself? That’s where television attribution comes into play.
Television attribution is the process of measuring the impact of television advertising on a particular goal or outcome, such as website visits, sales, or brand awareness. By analyzing data and interpreting results, we can determine which ads are performing well — and which ones are just falling flat.
But with the rise of streaming platforms and binge-watching culture, the challenges of television attribution have become even greater.
Traditional broadcast TV had a fixed schedule with set ad placement times, making it easier to track and analyze ad performance. In the streaming era, however, consumers have full control over when and how they watch their shows, making it harder to attribute ad results accurately.
Crafting an Effective Television Attribution Model
So, how can we craft an effective television attribution model in this streaming era? Here are some best practices and tips to get you started.
Establish Clear Goals and KPIs
Before implementing any attribution model, you need to establish clear goals and key performance indicators (KPIs). What are you hoping to achieve with your television ads? Do you want to drive website traffic, increase sales, or boost brand awareness?
By setting specific and measurable goals upfront, you can better determine which attribution model will work best for your needs.
Collect Relevant Data
Remember, to accurately measure the impact of your television ads, you need to collect as much relevant data as possible. This may include data from television ratings, streaming viewership, website analytics, sales data, and more.
When you collect and analyze this data, you can gain insights into who is watching your ads, when they’re watching, and how they’re responding.
Use Multiple Attribution Models
Let’s face it — there’s really no one-size-fits-all approach to television attribution. Depending on your goals and available data, multiple attribution models may be necessary.
For example, a multi-touch attribution model looks at the entire customer journey, attributing success to all touchpoints along the way. On the other hand, a single-touch attribution model may only look at the first or last touchpoint.
But by using multiple models and comparing results, you can better understand which attribution method is most effective for your specific campaigns.
Test and Refine
At the core of any effective television attribution model, there will be continuous testing and refinement. If you can test different attribution models and analyze the results, you can refine your approach and improve your accuracy over time.
Take the time to experiment with different data sources, attribution models, and KPIs to find the most effective combination for your campaigns.
The Future of Television Attribution
As technology continues to advance and the streaming landscape evolves, what does the future of television attribution look like? While none of us has a crystal ball, there are some key changes to watch out for.
One is the rise of cross-device attribution. With audience fragmentation across multiple devices, it is expected that cross-device attribution will become more critical in the future. Brands will need to track viewer engagement on different devices to understand how television advertising is impacting business outcomes accurately.
There will also be an increased use of AI — something that’s no surprise in 2023 and beyond. As we move forward, leveraging AI and machine learning technologies will become more prevalent in the future. These technologies enable brands to analyze vast amounts of data, identify viewing trends, and optimize advertising spend.
Finally, it’s important to note that traditional metrics (such as ratings) may no longer cut it in the streaming era, and new metrics, such as engagement rate, viewability, and completion rate, may instead gain more prominence in the future. These metrics will provide a more comprehensive view of how television advertising impacts business outcomes.
Final Thoughts
Television attribution may seem daunting at first, but by establishing clear goals, collecting relevant data, and leveraging advanced analytics tools, you can craft an effective strategy that drives real results.
By continually testing, refining, and adapting your approach, you can stay ahead of the curve and make the most out of your television advertising campaigns. Go forth and attribute!
