The way customers interact with brands has changed rapidly but have marketers really kept up? 80% of marketers are using the click-through rate (CTR) metric as a measurement tool despite CTR accounting for just 0.2% of sales and having no direct correlation to conversions.
According to Simon Kvist Gaulshoj, global publisher director at Audience Project, the CTR is not a strong indicator of whether a campaign has been successful.
Speaking to The Drum at Dmexco, he said: “While these [old-style] metrics were [once] suitable for the media market, they are now becoming more and more inadequate as we shift into buying audiences, instead of buying impressions. So there needs to be a paradigm shift in measurement where we shift from the ‘what’ factor to the ‘who’ factor.”
On how marketers should be conducting audience measurement, Gaulshoj recommended marketers to take a ‘people-driven’ approach. What is the marketer’s core objective and how do they plan to reach the intended target group?
“This is something that every marketer should be asking today because this is now a real opportunity for everyone. Audience measurement is no longer something that has been reserved for global, big volume campaigns. It is something you can do on every campaign, even very small campaigns,” he added.
For other insights, watch his full interview above.