Without the right tools, predicting the results of your advertising investments is a nightmare. You have the choice of wasting time doing thousands of tedious calculations or wasting money by not estimating results.
Wouldn’t it be great if a computer automatically predicted your advertising results? You can streamline and sharpen your predictions with good media planning software. Read on or jump to video demomstration.
Advertiser Demand for Transparency and Accountability
Advertisers are increasingly demanding transparency and accountability. Advertisers now require measurable business outcomes from every advertising investment. These outcomes are estimated using various key performance indicators set during the planning phase of the campaign. Performance is measured by comparing actual performance data gathered from advertising platforms to these KPI goals. In other words, did you hit your goals or not?
What Can KPIs Measure?
A Key Performance Indicator, or KPI, can be established for any measurable outcome of your advertising investments. Examples of KPIs include impressions, clicks, views, downloads, conversions, and any of your myriad trackable behaviors and metrics – both online and offline. Some of the most interesting applications are in measuring offline, real-world behaviors, such as purchases at the cash register.
Calculating and Re-Calculating KPI goals is a nightmare
Any given media plan may include dozens, hundreds, or even thousands of lines, each with different timing, investment levels, and advertising vehicles. Calculating all the KPI goals for every line in your media plan is a tedious and daunting task. This task gets even harder timing and budgets are shifted every day during planning and execution. Every adjustment requires careful re-calculation of the KPI goals for the line and for the campaign as a whole. It’s virtually impossible to avoid calculation errors.
Your Media Planning Software should make these predictions for you
Your media planning software should be more than just a record-keeping system. Computers are great at doing repetitive math calculations without error and without delay. Your media planning software should automate the process of predicting your advertising results.
Bionic automates the process of predicting advertising outcomes
Bionic media planning software solves the nightmare of predicting advertising results. Bionic enables you to choose your KPIs and then automatically calculate goals for every line in your media plan. You simply indicate your cost efficiency goal and Bionic does the rest.
The following video demonstrates Bionic’s advertising goal-setting capabilities:
How to automate your advertising predictions
If you’re already using Bionic media planning software, you already have access to these powerful tools to automate your advertising predictions. It was added (for free) to your account as part of the version 2.42 software upgrade on September 7, 2017. Please contact the customer success team for help using these features.
If you’re not yet using Bionic, you can learn more about the features, pricing, and reviews on our website here: https://www.bionic-ads.com/planner/