Marketers face a huge challenge in being able to keep pace with changing consumer behaviour and media consumption. As consumers increasingly turn to digital, marketers are faced with the issue of how to best optimise budgets across channels and understand the role digital media can play in brand-building and driving long term sales.
According to a research held by a range of partners including BrandScience, Data2Decisions, GfK, Kantar Worldpanel, MarketingScan and MarketShare, online video contributes to offline sales and proves that it should play a bigger part in the media mix.
“We at MarketShare were proud to contribute our analytics to this major data study, addressing one of the most pressing marketing issues of our day. We found [in our projects] that while TV maintains a powerful impact in the digital age, digital video is under-invested in several categories we measured in the UK, France and Germany. In every case it was key to understand not only how each medium performed on its own but, most importantly, how to orchestrate the optimal combination of various media channels for maximum impact,” shared Lucien van der Hoeven, General Manager EMEA at MarketShare.
Sally Dickerson, Global Director of BrandScience added, “We find online video to be particularly effective, short term and medium term, versus other online tactics, and always an enhancer of “total video” ROI. Where we have been able to drill down further and isolate the impact of YouTube versus other online video, we find YouTube to be more effective in ROI terms, for both online and offline purchased products”
Maximise Sales By Optimising The Media Mix
As part of the meta study, a forecast was created for 17 of the campaigns to demonstrate how shifting a portion of media spend into online video would improve the efficiency of the media mix. In more than 80 percent of these cases, the ‘recommend to spend’ on YouTube was more than double that of historic levels to optimise the media mix. “We have been modelling online video for clients throughout the past 5 years and our experience consistently finds higher ROIs from online video compared to TV. So it was no surprise to see this repeated in the studies we conducted with Google. We used traditional industry accepted MMM techniques but supplemented these with our own Ecosystem Modelling approach allowing us to separate out YouTube from other online video platforms. This produced the same findings we have found in the past – higher YouTube ROIs with optimisations across a range of clients suggesting spend should be 2 – 6x higher,” said Paul Dyson, Founder of Data2Decisions.
