Brand Lift with Brand Metrics22 Nov, 20225 mins
On this week’s episode of The Life in Digital Podcast, Dan Bolter, VP of North America, is j...
On this week’s episode of The Life in Digital Podcast, Dan Bolter, VP of North America, is joined by Tom Jenen, Chief Revenue Officer at Brand Metrics, for his second appearance on the Life in Digital podcast.
Brand Metrics is a software solution for publishers that allows for the measurement of campaigns, and whose mission is to move brand lift from individual measurements to the core of digital media effectiveness.
They measure the uplift of any format (display, video, content) on brand awareness, consideration, preference, and action intent; using proprietary algorithms designed to be comparable between campaigns, channels, markets and time.
W Edwards Deming's famous quote, “Just because you can measure everything, doesn't mean that you should”, still rings true as for Brand Metrics, as companies continue to rely on metrics demonstrating how campaigns are running, rather than on the results they're achieving.
What is something that sets brand metrics apart from the pack / how are you guys different?
“The scalability – we’ve broken down the barriers to being able to scale brand effectiveness measurement”
Tom tells Dan how Brand Metrics has broken down financial barriers – it’s a SaaS model and provides an unlimited measurement for a single monthly fee. This means it’s as cost-effective to measure your best customers who are always on as it is for those customers who come in for big campaigns once a year. Additionally, Brand Metrics don’t have a resource barrier as it only takes 5 mins to set up, this means there’s no going back and forth trying to set it up and wasting human capital.
In terms of methodology, Brand Metrics use a script-based approach which allows them to measure campaigns as small as 50,000 impressions – 1% of what a big research platform would require.
What specifics are you measuring and how does that influence brand uplift?
Brand Metrics is purpose-built for publishers to measure brand uplift across all digital advertising. The smart solution addresses all the issues above: cost, accuracy, and comparability. A simple and cookie-less solution, built on a robust methodology, rooted in academia and statistical analysis. Easy to implement and can measure any size of digital campaign. And a fixed licence fee model makes it very cost-effective - the more you measure, the cheaper each measurement becomes.
Brand metrics measures four key metrics
- Brand Awareness
- Brand Consideration
- Brand Preference
- Action Intent
For example, imagine a popular ride-sharing app (we all have one in mind) awareness is not a problem for this brand. They don’t care about consideration or purchase intent, the only thing they care about is brand preference, and ensuring that when someone needs to book a ride, they are the first company that come to mind.
If someone is looking to build a business with a brand and to speak their language, they need these four key metrics to allow them to do that.
“This is how brands can look at their own success, they don’t care so much about clicks, they care if they are occupying the space in your brain that leads you towards them when you need them”
How does brand metrics define healthy brand development and long-term growth?
“Brand development is laying the groundwork in trying to occupy someone’s thoughts about your brands”
Tom explains how it is a funnel process. Clicks won’t come unless people intend to purchase in the first place, they won’t intend to purchase unless they prefer your brand or product over another, however they won’t prefer it if it’s not in consideration in the first place, and it won’t be in consideration if they’re not aware of your brand or product.
“By understanding the development you can connect the upper funnel to the lower – a strong brand development approach”
Tom continues to explain that, when thinking about long-term growth, think about this funnel and how you’re moving people through it. Attention is a great metric, but you have to attract the right attention in order to see the funnel through.
What are your top tips for successful/accurate campaign measurement?
Tom tells Dan how,
“It starts from the client – what do they want to measure?
Brand Metrics works with a number of publishers who want to build out their brand but are still using click performance-focused campaigns. So, Brand Metrics beings by talking to clients and finding out what matters most to them.
For example, if you want brand preference, it unlocks creative strategy knowing that they need to create explainer videos or case studies, customer testimonials or branded content. Then in the back end, you can measure it and see how well the campaign performs and know what to do next time. This gives you something to build on in the next campaign.
Campaign effectiveness success is a function of two things: first, having a great campaign and second, exposing it to as big a proportion as possible of the target group. In other words, it is a question of both quality and quantity.
What’s next for Brand Metrics?
Tom shares that with all the demand Brand Metrics are seeing, they’re going to continue to build out their network, and integrations with various tech platforms, such as attention and DMP and others who want to use the campaign data.
“There’s a lot of work still to be done on the programmatic side, with CTV and broadcasters - there’s a lot of methods to go into”
Brand Metrics are also delivering measurements in audio, such as podcasts, which is something that very few people have been able to do so far. They expect to see a lot of growth in this area in the coming months.
Finally, Tom tells Dan how, at some point, they’d like to also make some more hires and grow the team!
Tom was recently nominated and shortlisted in the top 10 for AdTech personality of the year by The Wire – a huge congratulations to him for this achievement!
To find out more about Brand Metrics, explore their website here.
This blog covers just a fraction of everything Dan and James discussed, to hear the full podcast click here.