With the holidays quickly approaching and Q4 planning in full swing, it's critical measuring media impact is top of mind. This month, we’re spotlighting key measurement opportunities for Holiday 2020 and important details to begin discussing with your account manager today.
WHY MEASURE? By leveraging the platform and 3rd party tools to quantify your media’s impact, your brand can not only test and iterate to drive maximum efficiency this holiday season, but also gain an understanding of what’s working with your consumers heading into 2021.
WHERE DO WE START? Offering highly robust measurement capabilities, Facebook is the perfect place to begin developing your holiday strategy with pre-testing. Through both the platform's self-serve experiments tool and managed tests, advertisers can test different strategies before holiday competition skyrockets. By testing now, you can feel confident that your strategy is as effective as possible and know that your holiday costs will not rise as high as they otherwise might have with a differing or unproven approach. For more on Facebook measurement during the holidays, check out their recent webinar here.
Beyond Facebook, YouTube and Snapchat also offer quick turnaround and low-budget self-serve tools to leverage for holiday pre-testing. We recommend implementing a brand or sales lift study for measuring media impact and incrementally in two different ways. A brand lift study will help you understand how your media affects brand sentiment or consumers' propensity to buy, while a sales lift study will capture your media's effect on driving lift in sales and/or penetration.
To prepare for these studies, it is important to consider a variety of factors:
If you haven't already, consult your account manager or email us to discuss your learning objectives and ensure that your strategy is set up for success. With the right measurement in place, you will be equipped to drive the most efficient performance possible this holiday season and kick start 2021 with strong learnings about the efficacy of your media.