In Metrics, What We Have to Go After is the ROI: Webinar WINA Talks Power by PRODU
— At the WINA Talks power by PRODU: “The evolution of marketing metrics”, two Twitter executives emphasized that in the same way that digital advertising has been transforming, the metrics have also become more complex and that most importantly is to know what you want to do —
MIAMI, FL - April 7, 2021 - (LATINX NEWSWIRE) - This month at "WINA Talks power by PRODU", Mara Fernández Associate Publisher US Hispanic & LatAm of PRODU, spoke and exchanged ideas with Omar Schoijet, Head Marketing Insights and Analytics of Twitter spLatAm and Cynthia Pérez, Global Video Solutions LatAm in a webinar in which the main point was the transformation on how to look at metrics, in a world with an unprecedented digital acceleration.
For Pérez when it comes to metrics, “the most important thing is to understand that the name of the game of reach and frequency is over. We have to go after the ROI ”, she said during the WINA Talks powered by PRODU entitled: The evolution of metrics in marketing, which took place this Tuesday, April 6.
She stressed that you must to be clear from the beginning of the campaign what are you looking for, which the business objectives are, and understand the project in a its pre and post. “So, I can divide the plan into two parts: effectiveness and efficiency. Within efficiency I will be measuring brand effect and target reach, and within efficiency i will be seeking to optimize costs.” that is, metrics such as cost-per-view, viewability and completion rates, which, Pérez pointed out, are all available on Twitter Ads' platform.
She stressed that you must have to be clear from the beginning of the campaign what you are looking for, what the business objectives are, and understand the project before and after. “So I can divide the plan into two parts: effectiveness and efficiency. Within efficiency I will be measuring brand effect and target reach and in efficiency seeking to optimize costs ”, that is, metrics such as cost-per-view, viewability and completion rates, which, Pérez pointed out, are all available on the platform from Twitter Ads.
“Each medium has its dynamics and that is tied to the message. When having a project in mind, you have to think about the appropriate means and how to maximize the return on investment,” said Schoijet. He explained that while before there was a medium with many channels, now there are many media that are adopted very different by each audience "and within those media, different ways of communicating," he added.
Coinciding with Pérez, Schoijet said: “tell me what is your goal, short or long term, upper or lower funnel and I will give you metrics that can include change of perception, verify that a habit occurred; there are many ways to do it and many tools ”. He also highlighted the relevance of the “pre” stage of the projects, in the task of selecting audiences to find out how relevant is what is being done for a brand in a particular event. "It is important not to generalize and try to have a marketing program and knowing which is the platform with the best‘ marriage ’, because those hypotheses are the ones that are going to predict the return on investment," he explained.
Both Twitter executives highlighted the importance of knowing how each metric works and the possibilities they offer, and in this way, becoming experts in this area and not getting lost in something that does not contribute to the understanding of the effects of a campaign.
For 31 years, PRODU has been the leading content provider for television, advertising and technology professionals in Latin America, Spain and the US Hispanic market. Rapid and constant changes in media-consuming world have meant that PRODU is flexible and adapts to this specialized content; providing segmented everyday solutions for demanding readers on each platform. PRODU products include periodical trade publications (printed) and online directory: Who’s Who Online and the most prestigious and consulted website and newsletter for the television, advertising and technology industries (online). Additionally, PRODU offers three free newsletters that are produced by more than 30,000 decision-makers and executive professionals every day.