A recent report by the CMO survey found that nearly half of senior marketers believe social media has a ‘below average’ impact on profitability.
In particular, the report suggested that many CMOs are monitoring the ROI of campaigns on platforms such as Facebook incorrectly by over-relying on metrics such as buzz.
But by utilising Facebook’s mobile and desktop ad exposure data alongside its own continuous consumer packaged goods (CPG) purchase data, Kantar Worldpanel is hoping to give marketers more transparency around ROI.
Joseph Montserrat, chief executive of Kantar Worldpanel, says the tool will give brands an understanding of the real-time impact of individual advertising campaigns on actual sales and the contribution Facebook and other media have on their return on investment. This he hopes will help marketers to optimise their media planning and improve the efficiency of cross-media investments.
“We want to build a more solid understanding for marketers of the role that Facebook plays in a wider campaign context,” said Montserrat. “Working with Facebook will allow us to inspire even better decisions to optimise advertising budgets and maximise advertisers’ return on investment.”
For Facebook the partnership comes as part of a wider alliance with WPP. Announced in April, the partnership aims to “globally activate data” and build more measurement tools that brands can use to monitor effectiveness.
Patrick Harris, director of global agency development at Facebook, added: “Strong partnerships with our agency partners are key to providing advertisers with the tools they need to measure true business value on Facebook.”
Facebook’s ad business continues to go from strength to strength and ad revenues grew 57% to $5.2bn in its first quarter. Mobile ads, which command a higher price than those shown on desktops, accounted for roughly four-fifths of that revenue.