We have an obsession with CTRs, but are they the right metric in today's marketplace? Here are the data points you should be using to measure the success of your digital campaign.
Since the beginning of the banner ad, brands and agencies have been asking the same question: What is my click-through rate? It has become an obsessive metric for many digital campaigns. But while the CTR may be simple, it also may be useless. So when it comes to tracking and optimizing campaigns, what are the metrics we should be measuring? The truth is, there isn't a one-size-fits-all answer. But every company should be asking this question: What behavior do we want to elicit from the consumer? Engagement is the key, and tracking it for optimization is the challenge. Morpheus Media's chief media officer, Shenan Reed, spoke to iMedia about why we should toss the click-through rate aside. She also talked about why the TV model of media buying may be the way of the future for digital.
0:00 — How paid search has evolved in digital0:41 — Why the click-through rate is a dead metric1:21 — The 4 things you need to bring to the table or risk failure1:30 — The importance of measuring engagement2:00 — Will we see the rise of the cost per 30 second view?2:28 — Should we optimize for multiple devices?3:09 — The challenge for small to mid-sized agencies4:07 — Why small agencies have an important advantage4:34 — The worst thing that can happen to the digital marketing industry is...Run time is 5:00.
As chief media officer, Shenan Reed leads the digital media group for Morpheus Media, a CREATETHE GROUP company. A world-renowned digital strategy and media expert, Reed co-founded Morpheus Media in 2001 and subsequently joined CREATETHE GROUP when the company merged with Morpheus in June 2011. Within a few short years, Morpheus Media emerged as one of the top digital marketing and media firms for luxury and premium brands such as Bergdorf Goodman, The New York Times, Dior, LVMH, Marc Jacobs, Donna Karan, DKNY, Hennessy, and The Economist, among many others. An accomplished thought leader, Reed is active on the speaking circuit and is regularly quoted in Women's Wear Daily, The Business of Fashion, Luxury Daily, The New York Times, and Fortune Magazine.
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