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Finding Market Fit: Marketing Leaders in Tech
Measurement capabilities of world class advertisers, incrementality testing, media mix models, and when to use attribution | Andrew Covato (Growth by Science, Snap, Netflix)
Nov 21, 2023
Andrew Covato, an experienced Ad and MarTech professional, discusses the varying measurement methods of advertisers, the use of persistent holdouts, national media approach, and effective measurement methods. Topics include the history of advertising, evolution of measurement capabilities, running tests for marketing efficacy, challenges in brand and national campaigns, understanding look back periods, and the importance of curiosity in marketing.
49:32
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Quick takeaways
- Implementing persistent holdouts is recommended for ongoing assessment of marketing efficacy and understanding true ROI of campaigns.
- Assessing the impact of brand campaigns and non-targetable channels requires a nuanced approach, considering all campaigns as performance campaigns, employing marketing mix modeling (MMM), and analyzing pre and post impacts.
Deep dives
Focus on Incrementality Testing for Marketing Efficacy
Implementing persistent holdouts is recommended as an ongoing assessment of the overall marketing efficacy program. This approach helps determine whether the marketing efforts are delivering incremental results or not. By setting a constant holdout and analyzing the data, businesses can understand the true ROI of their campaigns. While it might not be feasible for all companies, having a regular cadence of performing tests, whether quarterly or monthly, is encouraged. A regular check-in on the marketing program helps identify areas for improvement and optimization. It is important to keep the methodology simple, specific, and focused on the most important lower-funnel key performance indicators (KPIs) like sales, revenue, or profitability. Recycling holdouts at a quarterly or annual frequency is recommended, considering market dynamics and the life cycle of the product or service. While implementing persistent holdouts can be more challenging for brand campaigns and non-targetable channels such as linear TV or podcasts, approaches like marketing mix modeling (MMM) can provide insights into incrementality. Overall, the goal is to strive for measurement methodologies that derive the causal impact of ads, understand the true efficacy of the marketing program, and continuously improve.
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