The 5 Benchmarks You Need to Shake Up Your Media Mix

Context is key

Many marketers think that the first place to look for clues on how their customers feel about them is in their digital footprints. They spend hours scrutinizing what websites their customers visit, the apps they use and the media they interact with.

But the digital journey is only part of the story. In fact, it may not be as big a part as many marketers believe. In reality, the vast majority of the path to purchase still takes place offline, and that includes the most important part—some 90 percent of all purchases still happen offline.

To really understand your customer, you need to look at the clues they leave offline. Did they visit your store? What path did they take to get there? How often have they visited? Once they were in the store, how long did they stay?

Advancements in high-quality and privacy-compliant location data have made it possible to know the answers to these questions. Powered by accurate location data at scale, you can leverage attribution tools to measure campaign ROI and adapt campaigns to maximize ROAS. You can also get a clearer picture of where you stand vis a vis your competitors, a crucial insight that can affect your marketing strategy and your overall bottom line.

These are the five key metrics you’re going to want to measure to identify the clues that come from leveraging the offline journey:

1. Brand Uplift

Knowing the impact ad exposure had on driving in-store visits is a key part of understanding how compatible the people you’re targeting are with your brand. You can break out uplift by channel and audience segment to optimize campaigns to the channels and segments driving the highest number of conversions. When it comes to the offline journey, in-store visits, not clicks, equals conversions.

This can be an incredibly valuable tool for making sure every campaign you invest in meets your goals. It’s also your secret weapon to understand how much your consumer really values your brand. If you’re targeting a group of consumers who you’ve already identified as compatible with your brand, but they aren’t responding to your campaigns, you’ll know very quickly that your next campaign should not target the same group with a similar message.

2. Visit Rate

It’s easy to see how many people were exposed to a campaign, but if you’re trying to drive foot traffic, you need to know how many of the people who saw the campaign actually came into the store. And while a certain percentage might be great for your brand, it is helpful to understand where it stands against your competitive set.

Armed with an insight like this, you’ll know that something has to change. Figuring out that “something” comes down to things like examining what channels the underperforming campaign ran on and trying it elsewhere or switching up the creative messaging.

3. Dwell Time

Getting someone into your store is the first hurdle of driving offline sales. Getting them to stay there, or conversely to leave quickly, is the second. For this, dwell time becomes vital to measure customer compatibility with your store.

First, dwell time verifies whether or not a visit happened. With dwell time, you can understand if consumers are actually visiting stores or just passing by. Keep in mind that even five minutes at a movie theater should be counted as a visit. Secondly, it can also tell you if your stores are optimized for the experience you’re trying to create, and how well you stack up against competitors. Different industry verticals will have different goals—a clothing store might welcome browsing; a coffee shop might want someone in and out the door quickly. Knowing where you stand is key for making the customer experience the best it can be.

4. Time of Visit

Being able to know the time of day a consumer typically visits your store is valuable to help you figure out what the best (and worst) times to buy media. It can also help you measure whether a time-sensitive campaign was successful, or if you need to focus the campaign during another timeframe.

For example, a quick-serve restaurant might determine that purchases for families are made at the tail end of rush hour. So media buys could target commuting parents via digital display, digital out-of-home or popular streaming music channels. In a nutshell, time of visit is a great metric that can enrich your planning efforts when it comes to picking the best day-parts for your advertising. 

5. Cost per Incremental Visit (CPIV)

You know how much your campaigns cost, but on an individual level, how much did it cost you to get those incremental store visits? Having knowledge like this can tell you just how much value you’re getting out of investments and help you better calculate your budget for future campaigns. For example, if you know that in the next six months you need to drive higher visits, you’ll know just how much that’s going to cost you.

Francesco Guglielmino (@FrancescoG_85) is the Chief Product Officer at Cuebiq.