5. Insights

19 Questions

What can data-driven insights inform in your marketing strategy?

Media planning and buying decisions

What is one way to contextualize the results of data and statistical analyses?

Combine campaign insights with research

What does a high p-value indicate in a statistical test?

Insufficient evidence to reject the null hypothesis

Which type of insights is derived from an analysis of aggregated campaign and test results within a specific period of time, across advertisers?

Advertising insights

What does R2 measure in statistical analysis?

The proportion of the variance in the dependent variable that is predictable from independent variables

What is the purpose of testing a new hypothesis in the context of measurement approach evaluation?

To validate the results

What is one issue that could prevent adequate measurement of KPIs?

Dilution during a test

What does the null hypothesis being rejected when p < alpha indicate?

The null hypothesis is rejected in favor of the alternative hypothesis

Which factor can drive business outcomes with the most efficient returns according to the text?

Bid strategy

What is the purpose of constructing a narrative in the context of research interpretation?

To contextualize the data and determine the caveats

What is the main purpose of evaluating the success of a measurement approach?

To determine whether it adequately measured KPIs

What is the purpose of interpreting the significance of test results using relevant metrics like R2?

To explain why the hypothesis was true or false

Match the following insights with their descriptions:

Budget Doubling = Making ROAS less efficient Inter-channel allocation = Media allocation impact on overall incremental return on ad spend Intra-channel allocation = Upper-funnel campaigns impact on overall incremental return on ad spend Reach = Impact of reach across TV and Meta technologies on in-store purchases

Match the following strategies with their outcomes:

Bid strategy = Driving business outcomes with the most efficient returns Buying strategy = Efficiency comparison between reach and frequency buying and auction buying Audiences = Comparing the value of targeting women ages 18-24 and women ages 18-55 Placement = Effectiveness comparison of selling products on Instagram and Facebook combined vs. Facebook alone

Match the following statistical metrics with their descriptions:

P-value = Probability of obtaining test results assuming the null hypothesis is correct Null hypothesis rejected when p < alpha = Interpretation of null hypothesis rejection based on p-value R2 = Coefficient of determination measuring predictability of variance in the dependent variable Constructing a narrative = Explaining the truth or falsity of a hypothesis by contextualizing the data

Match the following data sources with their description:

First-party data = Insights derived from a client’s efforts to learn and gather information, including campaign data in Ads Manager or results from a lift test or actual sales data and qualitative customer data. Statistical and data analyses = Synthesize results from statistical and data analyses to develop media recommendations and inform marketing strategies. Campaign insights with research = Combine campaign insights with research to inform marketing recommendations and leverage all available insights and research. Conversion Lift tests = Advertiser ran a series of Conversion Lift tests against different strategies to measure the impact of the campaign.

Match the following strategies with their potential impact on marketing performance:

Including video creative in addition to static creative = Drive incremental results across all strategies as shown by the results of Conversion Lift tests. Prioritizing the development of video assets = Consider prioritizing the development of video assets when new creative is developed based on the incremental results driven by including video creative. Drawing insights from statistical and data analyses = Use insights drawn from statistical and data analyses to develop media recommendations and inform marketing strategies. Developing media recommendations = Use insights from statistical and data analyses to develop media recommendations and inform marketing strategies.

Insights should be based on data and can incorporate a variety of dimensions, including but not limited to Budget, Inter-channel allocation, Intra-channel allocation, Reach, Bid strategy, Buying strategy, Audiences, Placement, Creative, and Test duration.

True

Approach your research with your proven or disproven hypothesis in hand, and let that hypothesis focus your research.