New Report Sheds Light on Cross-Brand and Cross-Vertical Trends; Findings to Help Brand Advertisers Maximize Campaign Investments
Upwave, the leading analytics platform for brand advertising, announced findings from its very first Brand Impact Report to help brand advertisers see the latest full-funnel brand performance trends and make informed optimization decisions.
Current State of Full Funnel Brand Campaigns
The headwinds due to data privacy changes, a growing crowded digital marketplace, plus new consumer habits due to the pandemic have caused a number of marketers to shift gears and to embrace a more full funnel marketing approach, according to one report. Additionally, the value of a full funnel marketing strategy presents great value, according to McKinsey. The consulting firm puts forward that, “a thoughtful and data-driven full funnel marketing strategy can drive significant value.” In their viewpoint, McKinsey projects that “marketers can achieve a 15 to 20% lift in marketing ROI.”
Marketing Technology News: MarTech Interview with Jill Ransome, CMO at Jitterbit
Introducing the Upwave Brand Impact Report
The Upwave Brand Impact Report’s mission is to shed light on cross-brand and cross-vertical trends, by surfacing findings that can help brand advertisers improve their campaign investments across the path to purchase–including data on how verticals are performing differently, but also what they may be doing differently. The inaugural Brand Impact Report leverages Upwave’s proprietary analytics platform to analyze nearly 1,000 brands across 12 verticals and produced industry specific norms (averages) for each KPI. Upwave combined data across campaigns within each vertical by taking an average of the lift estimates for the overall campaign, weighted by the precision of each lift estimate. Effectively giving more weight to campaigns with larger sample sizes, and thus more precise estimates.
The Main findings from the Brand Impact Report:
- In general, across nearly all verticals, lift in Awareness was correlated with lift in Consideration.
- There was little variability in average Frequency across verticals, with Finance and Insurance being outliers.
- CPG (Food-Specific) showed greater lift in Unaided Awareness and Familiarity, but little-to-no-lift across lower brand funnel KPIs like Consideration and Purchase Intent.
- Aided Awareness proved to be an easier KPI to lift, but has a lot more variability.
- Lift in Ad Recall was highest among three considered-purchase categories: Telecom, Insurance and Finance, but this did not correlate with Consideration.
- Quick Serve Restaurant (QSR)/Casual Service Dining (CSD) had the highest consistent lift across all KPIs.
“Real-time, full-funnel campaign performance has historically been opaque and siloed. Knowing how and why your own campaigns are moving consumers from awareness to purchase is difficult enough, much less gauging against peers and other verticals. With the Upwave Brand Impact Report, our aim is to provide valuable information to brand marketers to help them with their full funnel campaigns,” said Chris Kelly, CEO and Founder, Upwave.
Marketing Technology News: How To Build an Audio Visual Set Up for Your Webinar