Page 11 - Adnews magazine Sep-Oct 2022

Building measurement models that work
Measurement is another top challenge for the media industry, particularly as brands and agencies have more and more channels and formats to use in their advertising strategies
For AmEx, running several campaigns across multiple channels with a number of different vendors means that attribution is complex. Cost-per-Acquisition (CPA) is a core metric, but a recent shift towards building awareness means there is also upper- and middle- funnel activity to measure and learn from. For AmEx, ideal attribution model lies in understanding the full path to conversion.
While AmEx’score metric centres around new acquisitions and the cost of that, different partners
play different roles in the customer journey, so having variable criterias and being able to measure on multiple touchpoints is important..
As UM measures success using ad tech partner insights that can help deliver meaningful metrics that accurately illustrate sustainable business growth.
Those ad tech partnerships need to integrate data
in a privacy compliant way, so campaigns can be measured and optimised on the fly with access to deep insights in audience segmentation. UM can then personalise campaign settings at speed to drive acquisitions for AmEx.
Advice for businesses evaluating their partnerships
For marketers working with agency partners, Genevieve says:
• Having a close working relationship with your partners not only helps you operate better as a business, it brings about opportunities for testing, innovation and upskilling, which also helps you grow as an individual in your next career move.
• Getting everyone in a room when embarking on new partnerships. Although we’re used to talking through a screen in recent times, face-to-face connections are invaluable in building relationships. Connecting in person also makes it easier to communicate and solve problems.
• Not to be afraid to share all the priorities you have and the goals you want to achieve across your business. “Pigeonholing” deprives your agency partners from being able to give you their full support, and you might miss the opportunity to identify areas to obtain value beyond the scope of work you’re briefing in.
For agencies wanting to create a synergistic relationship between clients and ad tech providers, Adam says:
• To deliver the best outcomes to your clients, you must have enough faith in your vendor relationships, and recognise when to connect the two. The more partnerships you have, the more access you’ll
have to diverse datasets, which can help you create more incremental wins for the agency and the clients you serve.
• Future-proofing against rapid change is more important than ever, but you can’t go at it alone. Innovation is key to driving partnerships forward, so that should always be a key focus. Take the time to acknowledge the practical knowledge each side brings to the table, and keep the end goals in mind, not just the short-term gains.
• Before connecting your clients with vendors you trust, take a step back to examine the value that you can
all get out of each other. Put goals in place to create ‘milestones for success’, and tackle any issues openly with the aim to find resolution. Never assign blame.