A Comprehensive Framework for Measuring the Immediate Impact of TV Advertisements: TV-Impact
Afra Arslan1, Koray Tecimer1, Hacer Turgut1
1Research and Development Center, iLab, 34736 Istanbul, Turkey.
Entropy (Basel, Switzerland)
|February 23, 2024
Summary
This study introduces TV-Impact, a new framework for measuring television advertisement effects on website traffic. The model enhances advertising budget allocation and boosts online traffic, acting as a valuable decision support tool.
Area of Science:
- Marketing Analytics
- Time-Series Analysis
- Causal Inference
Background:
- Measuring the immediate impact of television advertisements (TV ads) on online traffic is complex.
- Existing research often uses limited case studies or basic regression models.
- A comprehensive framework for evaluating TV ad effectiveness is needed.
Purpose of the Study:
- To introduce the TV-Impact framework for measuring TV ad influence on online traffic.
- To develop novel methods for controlling confounding variables and analyzing ad impact.
- To provide an effective decision support system for advertising strategies.
Main Methods:
- Utilized a Bayesian structural time-series model (CausalImpact).
- Developed a dynamic algorithm for selecting control variables unaffected by TV ads.
- Introduced 'Group Ads' concept and employed Random Forest Regressor for impact decomposition.
Main Results:
- The TV-Impact framework was successfully applied to a Turkish venture company's data.
- The model positively influenced TV advertisement budget allocation strategies.
- Demonstrated an increase in website traffic driven by TV advertisements.
Conclusions:
- TV-Impact offers a comprehensive approach to measuring TV ad effectiveness.
- The framework improves advertising budget allocation and drives website traffic.
- TV-Impact serves as an effective decision support system for businesses.
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