Sports Marketing Machine Podcast 82 - How To Measure Advertising Effectiveness The Right Way
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Sep 3, 2024 Jeremy Neisser, an expert in advertising effectiveness within sports marketing, dives deep into the intricacies of measuring success. He reveals that consumers often need multiple reminders before making a purchase, highlighting the significance of tracking new versus repeat customer metrics. Neisser advocates for focusing on ROI and buyer numbers for acquiring new customers, while emphasizing the power of direct channels like email and text messaging to engage return customers. His insights provide a roadmap for brands aiming to sharpen their marketing strategies.
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Complexity of Attribution
- Attribution of sales to a single advertising source is often impossible due to multi-touch customer journey.
- Various media work together, each influencing the sale, so crediting one alone is misleading.
Multi-Touch Advertising Example
- Consumers rarely buy the first time they see an ad and need multiple reminders.
- A fan seeing social, radio, and billboard ads before finally buying shows multi-touch impact.
Measure New Customer ROI
- Track ROI by comparing marketing spend to revenue generated from new customers.
- Count the number of new buyers and tickets purchased to evaluate new customer acquisition.