Managing a media mix can be complex, with many players involved (marketing department, communication department, media agencies, technical partners, etc.) all gravitating around an essential element: data.
This term is everywhere these days, making it both fashionable and overused. Depending on the reality of the interlocutor, it can cause both excitement and apprehension… This is why we are going to give you in this article the best practices to easily and effectively exploit the data of your media mix.
HOW TO PROPERLY YOUR MARKETING CAMPAIGNS
In any production chain, the quality of the final product rarely depends on the last screwdriver stroke. For a media project it is the same principle, it is difficult to find the miracle indicator that will increase your conversion rate by 30% without a clear vision of the data that feeds your campaigns in the first place. In digital marketing, the organization of your data often comes from how to qualify traffic and distribute it among your different levers. The qualification of the traffic is called the nomenclature (or taxonomy).
Simply put, BOM is how you fill in your UTM parameters. It is CAPITAL to have an exhaustive vision of your nomenclature since it will be the language shared between all the parties involved in your media mix (Management, agencies, partners, etc.). It is very important to have a nomenclature motivated by business needs. Depending on the size of your company, the composition of your media mix and the distribution of your investments, your nomenclature can be very detailed or on the contrary less granular.
As a reminder, UTMs are parameters chosen by Google to individually track each URL. UTM tags are composed of two elements: a parameter associated with a value. There are 3 mandatory values: utm_source, utm_medium and utm_campaign.
For example:
www.votresite.com/utm_source=google&utm_medium=display&utm_campaign=blackfriday
indicates that visitors arrived through a google display campaign and more specifically by clicking on the blackfriday ad. The use of utms offers great flexibility in the creation of your nomenclature, use it!
Wizaly recommendation:
There is no single nomenclature but a good practice is to use the source UTM for the media partner (Google, Facebook, Criteo, etc.), the medium UTM to qualify the lever (retargeting, search, email, etc.) and the UTM campaign to identify the characteristics of a campaign launched on several levers (“Black Friday 2019”, “Ile de France red thread”, “Sale Appliances”, etc.). Also be careful to ensure that within a campaign there are not several strategies (eg retargeting or prospecting).
HOW TO MAKE YOUR MARKETING NOMENCLATURE LASTING OVER TIME
That’s it, you have thought about your nomenclature, each UTM finds its interest for your business, you have communicated this nomenclature to all your media partners and the data is starting to go up in your side-centric or ad-centric analytics tools . The new watchword is now: continuity! Indeed, your media ecosystem is a living organism that is bound to evolve (launch of new campaigns, addition of a new partner, end of contract, etc.) and in this context it is important to ensure that you have a Consistency of your nomenclature over time.
To ensure this, a good practice is to have in advance a schedule of your different campaigns and the nomenclature that will be associated with them (example: the Christmas campaign will include two actions, one on Facebook with the source nomenclature =Facebook, medium=Social and campaign=Christmas, the second is a Display campaign with the nomenclature source=LeBonCoin, medium=Display and campaign=Christmas). Once the scope of the campaign has been defined, make sure that this nomenclature is well implemented: this involves checking the landing page URLs which must contain the utms in question, that your media partners have added the impression pixels in your display banners and possibly that the associated costs go up well in your analytics tools.
Wizaly recommendation:
Maintaining a bill of materials over time can be tedious, simplify your life and make the tools work for you. They generally offer the possibility of receiving automatic reports or triggering alerts when the nomenclature is no longer up to standard. This is particularly the case of Wizaly.
HOW TO DEFINE THE RIGHT KPIS FOR YOUR MEDIA MIX
Collecting and structuring data is good, analyzing it is better! In a context where data is in almost unlimited quantity, it is easy to fall into the pitfall of wanting to monitor everything, optimize everything, analyze everything… and finally do nothing! Analytics tools offer a plethora of metrics available but you still need to know which ones are really important, it is now a question of moving from metrics to KPI (Key Performance Indicator)!
How do I define a good KPI for my business? The answer is obviously different depending on the sector of activity, to help you see more clearly take all the metrics that you have followed over the last 6 months and classify them according to the impact they have on your business as well as the how often these metrics are analyzed.
Wizaly recommendation:
Identify the KPIs of your business at the different levels of hierarchy, assign them objectives and make optimizations in line with these objectives. The attribution of an objective on a KPI creates a motivation and makes it possible to judge agnostically the performance of a media action.
HOW TO BOOST THE PERFORMANCE OF YOUR MEDIA MIX?
You are now in charge of a well-oiled machine, each cog knows its role, its objectives and how to communicate with the rest of the system. You have reports from the different players in your media mix presenting the KPIs that interest YOU and you relay the relevant information to your management. Now the ultimate question is to ask oneself how to improve the existing one, where to look for performance? This is when marketing teams tend to call on data teams, however we are going to give you the right reflexes to have for analyzing data.
From macro to micro! By keeping this sentence in mind you will always know where your great masses are. There is no point in trying to optimize the broadcast times of your Facebook posts if your Paid Social only represents 5% of your conversions and the Search Brand, which accounts for 40% of the conversions of your media mix, has not an IS rate of 100%.
Look for outliers! Move away from mean values and start looking at distributions of your data. Thus, you can eliminate the normal and the expected and focus on the abnormal and the unexpected. A good rule to observe is that when your indicator varies little, you can consider as normal any value that is less than 2 standard deviations from the mean.
Wizaly Recommendation:
The Wizaly platform simplifies your task and allows you to independently generate analyzes of your media mix or its components (SEA, Paid Social, Display, etc.) based on proven data analyst methodologies.
