Your database is only as good as its data.
Sourcing good advertising investment data is tricky. In many cases, the data is not easily accessible.
Advertising investment data is often stored in hundreds of spreadsheets on dozens of hard drives scattered across the advertiser and their agency partners. In other cases, the data is scattered in myriad systems that don’t talk to each other nor share a common nomenclature. As a result, the data is not properly identified, coded, categorized, nor cross-referenced. It’s a big mess.
The most critical part of every advertising investment tracking system is its data pipeline.
Your data pipeline should deliver a continuous flow of clean, standardized, granular data you need to analyze your advertising investments. Here are the six types of advertising data you need to feed your advertising investment database:
- Budget Data. For every advertising campaign, the overall budget broken down to bucket-level media plan (e.g. by market, channel, or initiative) and associated media authorization and purchase orders.
- Placement Data. The details of each advertising placement including vendor, program, product, targeting, start date, end date, unit of measure, rate, price, gross amount, net amount, and all other costs itemized.
- KPI Data. Every placement’s KPIs broken down into daily goals including spending, delivery, engagement, and commercial goals.
- Performance Data. Daily (or more frequent) performance data for every KPI on every placement extracted from the appropriate marketing systems and transformed into standardized metrics.
- Pacing Data. Pacing data is derived by calculating the difference between KPI goal data to actual performance data.
- Finance Data. Follow the money by tracking invoice, reconciliation, and payment transactions.
Of the data above, the easiest to get is performance data. There’s no lack of performance data, particularly in digital advertising. The problem is performance data alone will not tell you how your advertising investments are performing. You need to combine it with the other data to get a meaningful picture of your advertising performance.