Econometrics, The Two Tasks of Online Ads and Share of Search
Dr. Grace Kite helps brands measure their own critical sales drivers. As the Founder of Gracious Economics, Grace and her team have helped hundreds of business leaders understand the right marketing mix by untangling the effectiveness of their growth levers including advertising, pricing, availability and the economy. Grace has a PhD in Economics, is a regular contributor to Marketing Week magazine, is a technical judge for the IPA. Her client work has led to 10 IPA effectiveness awards and a Cannes Grand Prix.Show Notes0:45 - Introduction1:50 - What is econometrics is and what do econometricians do?3:25 - The difference between data science and econometrics.5:10 - How an economist ended up in marketing.9:00 - Why discounting and brand building both work12:45 - When, in a brand’s life, should you start brand building14:30 - Does all brand building work?16:35 - How brand building works19:45 - The importance of a media mix to improve ROI23:14 - Are digital video ads as effective as traditional TV ads25:35 - The two tasks of online ads30:50 - The problem with last click attribution32:25 - How to think differently about digital ads36:00 - Defining share of search39:50 - How brands can use share of search42:40 - Where share of search fits in a customer’s path to purchaseListen Here: A-Cast Episode 12: Econometrics, The Two Tasks of Online Ads and Share of SearchSubscribe to the A-Cast on Spotify or Apple Podcasts. Follow Anstice Communications on Instagram, Facebook, Twitter, and LinkedIn to stay up-to-date on the A-Cast and agency news.