Since it's just become possible to get a quick and dirty look at how well a new TV commercial is selling product, it's worthwhile to share some of our early learnings from these new metrics.
Frequent shopper card data tied to set top box data allow us to see purchase rate increases associated with having opportunity to see the new commercial, within about a month – and our colleagues at Mars (the candy and pet food company) report similar quick readability overseas using earlier forms of singlesource (SS).
Recently the front line researchers were using marketing mix modeling (MMM), which generally took 3-6 months to get a read.
One of our key indicators is what percent of households reached increased their purchase of the brand after exposure to the new advertising (Increasers). Another is what was the size of the increase in purchase rate among that group (% Increase).
Last week we were analyzing a branded integration that was in both video and sound tracks – we saw the product and heard it named – and this all involved the main host. In that case the proportion of Increasers was not above average, but there was a huge uptick in the % Increase.
The reason we consider this a quick and dirty ability is that over the same 3-6 months that it takes to do multivariate analytics at the modeling level, it takes that same amount of time/data to pin down the exact answers with 95% confidence and control of 97% of marketing casuals. So far the two methods have agreed directionally in all but one case studied.
Bill Harvey has spent over 35 years leading the way in the area of media research with special emphasis on the New Media. Bill can be contacted at firstname.lastname@example.org.
Read all Bill’s MediaBizBlogger commentaries at Bill Harvey - MediaBizBlogger.