If you own a business, you probably spend money advertising the various goods and services you offer. If this is the case, there is a good chance that you advertise by using many different forms of media. You might use newspapers, TV, radio and the Internet. If you use some or all of these different mediums, it will be very difficult to determine which ones are the most effective, and which ones are not generating enough sales to justify spending money on future advertisements. Find out where your sales are coming from with the use of cross media measurement. This revolutionary method utilizes various data fusion techniques in an effort to determine the return on investment you are getting from your advertising campaigns.
Here is why cross media measurement is so useful for businesses of all sizes.
Cross Media Measurement Prevents Wasting Money on Ineffective Advertising
Companies spend a lot of money on advertising. Therefore, it is important for them to be able to determine if the money they are spending to attract customers is actually working. In other words, if a company is advertising in multiple mediums, they need to know which of these mediums is causing people to do business with them. If a company is advertising on both radio and TV, but the vast majority of their customers are coming from the TV advertisements, the company needs seriously reconsider the money they are spending on radio advertising. Many years ago, it would be very difficult to determine which mediums were most effective for a company in terms of advertising. Now a company can reduce wasting money on advertising that has proven to be ineffective.
“In our factory, we make lipstick. In our advertising we sell hope.” ~ Charles Revson, founder of Revlon (1906-95)
Cross Media Measurement is Useful in Creating Ad Campaigns That Work
Once you know where many of your customers are coming from, you can begin to create your ad campaigns to target these specific people. Obviously, different advertising mediums require completely different campaigns. There is no sense devoting your resources to an area of marketing that is not working for you.
Cross Media Measurement Gauge Your Return On Investment
Whenever you spend money when you are running a business, you need to know if these expenditures are worthwhile. Therefore, you need to find out if the money you are spending on marketing is positively affecting your bottom line. Cross media measurement is the best and most accurate way for businesses to figure out their return on investment.