Simplifying, re-evaluating, testing, and quickly optimisation are a few ways for businesses can adapt ad measurement strategies in the current environment.
COVID-19 has impacted businesses across the spectrum, pushing marketers to rethink and adapt media strategies, determining which marketing activities are most worthwhile in the current scenario. It has become even more important to understand ad performance and impact and, to adapt ad measurement strategies accordingly.
One key factor that’s impacting everything in the mix is consumer behaviour and how much they are deviating from the norms. Another is to predict whether these consumer habits would extend beyond the current environment. Thirdly, these deviations are not consistent across categories and consumer groups.
Ad delivery systems like Facebook’s can be influenced by these shifts in advertisers and consumer behaviour. “While we don’t know the exact impact, we’re seeing significantly more activity across our services, which can have unpredictable effects on our delivery system,” the platform says.
Considerations for Facebook measurement products
Though each business and marketer would have to find ways to evaluate the situation as experienced by them, there are a few overarching strategies most can use to gain a true understanding of the impact of COVID-19 to plan better and make the most of the money they are putting at stake.
Simplify your strategy
Evaluating your measurement strategy to adapt to today’s conditions does not mean you need to abandon your existing measurement approaches. Rather than changing course completely, consider simplifying your strategy to focus on using your organization’s current key sources of truth. This will enable you to more quickly understand shifts and make media optimizations.
Re-evaluate tests designed to inform future decisions
With the profound changes happening to people’s day-to-day lives, media performance is often unusual. So, when looking at insights from tests conducted during this time, consider the extent to which current conditions are impacting results. Some findings and best practices may still be able to be generalized and used to inform future business decisions while others may only be applicable now.
Use A/B and multi-cell testing to optimize quickly
To gain a better understanding of today’s behaviours, consider running quick A/B and multi-cell tests (A/B tests with a holdout). Through measurement and learning, you can assess the impact of making adjustments in areas like audience targeting and creative presentation. This will enable you to rapidly adapt your ads, undertake changes with greater confidence and optimize your strategy for the current environment.
Consider impact by industry and marketing conditions
Different industries are facing starkly different realities during this time, with some seeing increased demand and others seeing dramatic drops. Moreover, advertising conditions vary widely by geography and customer base. This means there is no one-size-fits-all approach. Ultimately, the right measurement strategy will have to be tailored to your specific goals, customers and marketing conditions.