Comparison of the effectiveness of advertising channels

The key benefit from the research is reducing business costs. Thanks to research, you can reduce advertising costs while maintaining or even increasing the number of advertising contacts. In some cases, advertising costs are reduced by up to 2 times.

Many companies wonder how to optimally allocate their marketing budget.

Comparing the effectiveness of marketing channels allows you to select the most effective communication channels with the target audience in terms of price and quality ratio. The comparison is based on the cost of attracting a potential client.

Relatively speaking, attracting the same person (potential buyer) through street advertising and through television will cost differently. For example, 12 pounds and 20 pounds respectively. Per 1,000 leads attracted, budgets will differ by (20-12)*1000 = £8,000. Therefore, for effective marketing, it is important to identify advertising channels with the lowest cost while delivering the same results. This is the main task of this type of research.

The minimum size of a representative sample for such projects per region is 400 questionnaires. By region we mean any territory for which separate analytics is required (this could be, for example, a city or country). In cases where it is necessary to separately consider and compare data from, for example, 2 regions, the minimum sample is 800 questionnaires. The minimum period for such a survey is 1 business day.

The cost of a project to evaluate the effectiveness of advertising channels consists of the cost of collecting a selected number of questionnaires (payment is taken only for fully completed questionnaires) and the cost of analytics (usually no more than 10-15% of the cost of data collection)

You can calculate the cost of one questionnaire yourself using our calculator (you will need to enter the number of open and closed questions in the questionnaire, quotas)

The cost of such a study is from 2000 £ (the cost is indicated for a minimum sample).

When conducting this type of study, the following parameters are taken into account:

1. List of communication channels considered
2. Audience size of each channel (estimated by BCGroup)
3. Size of the target audience receiving information through the channel (estimated by BCGroup)
4. Average channel conversion (estimated by BCGroup)
5. Cost of advertising

Using this data, you can calculate the cost of attracting one potential client. And compare advertising channels according to this indicator. It is recommended to use from the selected list from 8 to 15 advertising channels within one advertising campaign.

BCGroup's work on assessing and comparing the effectiveness of advertising channels is structured as follows:

1. A BCGroup specialist clarifies the portrait of the target audience to whom the advertising campaign or advertising activities in general are aimed;
2. A BCGroup specialist agrees with the customer on the research methodology, as well as the final version of the survey questionnaire;
3. An NDA (confidentiality agreement) is signed between BCGroup and the company;
4. BCGroup specialists conduct the survey in a short time (it is possible to survey up to 5,000 people per day);
5. Next, the BCGroup employee transfers the data array to the customer’s representative in Excel or SPSS format;
6. The data array is transferred to BCGroup analysts for calculations;
7. After 5-10 days, a BCGroup employee sends an analytical report to the customer based on the results of assessing and comparing the effectiveness of advertising channels (sample reports)