A structured process and framework for selecting and defining the most relevant and salient Key Performance Indicators (KPIs) to monitor media investment, performance and ROI.
In a world that’s ever more complex and data-rich, the ID Comms Media KPI Selector™ makes it simple for you to pick and define the most relevant, salient and accessible KPIs for your media performance.
Media has become a critical lever for marketing but it’s also increasingly complex and fragmented, so the better you know what to measure and how to measure it, the clearer your understanding of ROI.
The ID Comms Media KPI Selector™ process starts by understanding what overarching marketing KPIs you use and we then apply our KPI selection framework in a structured process with all marketing and procurement stakeholders. This enables us to translate your marketing KPIs into meaningful media and digital performance KPIs.
Our matrix of potential media metrics is matched against relevant data sources, making it simple for disparate data sources to be integrated into a single framework. This includes both immediate response metrics (such as Awareness, Clicks, Sales and Footfall) as well as long-term metrics (such as Brand Equity, Consideration and Purchase Intent).
We are also able to integrate customer experience metrics (such as Net Promoter Score and Sentiment) to provide you with a holistic view of brand performance as driven by paid, owned and earned media.
Objectives of Media KPI Selector™:
- Equip marketers with a simple and practical framework against which to set specific objectives;
- Identify a small number of consistent and salient measures, some Immediate and some long-term;
- Establish common aligned language around KPIs across different stakeholder groups – including the agency – that inform direction;
- Create the ability to drill down, allowing actions to be taken as result of KPI performance; and
- Allow for comparisons against relevant best-in-class peers and other benchmarks.
ID Comms strongly believes that media KPIs should be owned by those who can directly influence the outcome. Our approach ensures that KPI owners are identified and aligned both internally and within your agency/agencies.
Setting media KPIs is also a critical step in defining your requirements for agency resource, data and technology. Our process helps to determine what you actually need and helps to define the agency Scope of Work. Ultimately, our process helps to cement alignment with the agency’s Scope of Work and ensures the agency’s income is linked to your selected metrics and KPIs.
ID Comms will provide you with:
- Industry leading Media KPI setting template supported by detailed guidelines for completion; or
- If required, a facilitated stakeholder workshop to define the media KPIs and create workstreams for Media KPI development; and;
- Review of final Media KPI Setting documents.
Both service options provide a final review of the completed Media KPIs by an experienced media consultant to ensure that it is fit for each brand’s purpose.
The questions that Media KPI Selector™ will address:
- What KPIs should we be using for media?
- How do we prioritise the hundreds of different media metrics and data sources?
- What does best-practice media measurement look like?
- Which media KPIs should we track and monitor? How should we link agency performance to income using these KPIs?
Investment in media needs to be accountable for performance.
Identifying the most relevant and salient KPIs simplifies performance tracking, driving more actionable insights and a clearer view of Return on Investment (ROI).