By: Vasant Jante
Last updated : December 05, 2017 6:53 pm
Jim Spaeth, Co-Founder of Sequent Partners, highlighted the importance of evaluating each format and creative execution in order to arrive at an accurate ROI of a campaign. The quality of evaluation findings would hinge on the quality of data used.
Acknowledging that OOH faces specific data and modelling challenges, Spaeth urged the industry to support Geopath’s drive for increased data granularity.
Throwing more light on the evaluation of formats, he called for individual evaluation of the formats as “not all elements of a campaign may have performed equally”. “Were some formats better aligned with the campaign objectives and KPIs” is a question to be addressed, he said.
He asserted that “future ROIs could be improved by dropping under-performers”. For that, the under-performers will have to be identified.
In his presentation he suggested re-planning the OOH format mix based on the findings of the evaluation.
Spaeth was categorical in highlighting the importance of creatives in a campaign. “As much as 70% of ROI is attributable to creative quality”. Some of the imponderables that he referred to in this regard were: (i) Was the creative aligned with the objectives, and in particular, the media strategy? (ii) Did the campaign use the principles of effective OOH communication (iii) Were some executions stronger than others (iv) Could new creatives be tested?
Laying particular emphasis on use of extensive data for evaluation, he pointed out that the evaluation would require accurate, as ran, weekly market level GRPs. Any significant difference between the data provider to the modeller and the campaign as ran will reduce the OOH ROI estimate. Maximum granularity in the evaluation of the individual formats and creative execution will provide the most accurate ROI, he said.