You also have to understand the differences between channels. A display ad campaign that you’re running programmatically across the web will probably not translate effectively for digital out-of-home. Be prepared to design your creative specifically for each channel.
Step 5: Establish trail markers to measure success.
One of the biggest challenges with an emerging channel is measuring performance. Common performance metrics may apply, there could be new metrics to consider, and there are different ways to interpret the data. For example, while connected TV (CTV) shares some similarities with online video, CTV is measured by how many households tune in, whereas online video is measured by viewability and completion rates.
You also have to understand the nuances of consumption. Consider digital out-of-home. Because it is a one-to-many medium, it has historically been challenging to measure. But thanks to the rise of mobile location data, there are several ways to measure impact on upper-funnel metrics such as unaided brand recall and purchase intent, as well as lower-funnel metrics like foot traffic and in some cases even sales lift.
“Approaching a new channel such as OOH with a clean slate allows you to focus on metrics that make sense for the medium and tie back to your ultimate goals, rather than being restricted by KPIs built for a different channel,” explains Chris Allison from Vistar Media, a programmatic technology company for digital out-of-home and Adobe partner. “In the case of OOH, that might be looking at foot traffic instead of clicks, but the end result is understanding the impact of your campaign on real-world consumer behavior, and continuing to optimize based on those insights,” he adds.
Podcasts are another challenging format. Just because people download one, doesn’t mean they actually listened to it. However, research suggests people listen through entire episodes, including ads.
The bottom line is that you can’t always test a new channel the same way you’d test another — even if they share the same goal. You may need to experiment, adjust your expectations, and allow some leeway. Look beyond KPIs and individual metrics for the channel as well, focusing first on how the channel contributes to your goals, and also what it does for your cross-channel impact.
Recommendations for measuring a new channel:
• Understand the nuances of the channel.
• Get insight from the leading partners about the best way to measure it.
• Run tests using the metrics on your incumbent channel so you can compare.
• Be open to measuring more metrics alongside it.
• Tie it all back to your business goals.