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The Kenshoo 5: Five Questions on COVID-19 Insights with Kenshoo’s Senior Director of Marketing Research Chris Costello

Joshua Dreller, Director, Content Marketing @ Kenshoo

5月  20, 2020

Whether its analyzing digital advertising trends for Kenshoo’s Quarterly Trends Reports, finding data points for the Client Services team to share with interested customers, or fueling our content with compelling stats, Chris Costello—or “Coz” as he’s known to his friends and colleagues—has been deriving insights from Kenshoo’s massive advertising dataset since arriving here in 2014. 

COVID-19 InsightsWhat’s been keeping him glued to his computer monitor for the last few months has been a constant analysis of Search, Social, and Ecommerce advertising data to help make sense of how advertisers and consumers are reacting to the global COVID-19 pandemic. Drawn from an annualized data set spanning nearly $7B in marketer spend, over 750 billion ad impressions, and 15 billion clicks, Coz has been fielding questions from marketers, financial analysts, industry publications, and Kenshoo customers that want into what he’s seeing and—more importantly—what he might be able to predict in the near future. 

With an analyst career spanning nearly 30 years, Coz has seen it all—almost. In these unprecedented times during the pandemic, he’s been tasked with answering almost unanswerable questions. How bad is it getting? Are consumers clicking ads again? Are there signs of recovery? When will things get back to normal? 

To check out Coz’s work in this area, visit Kenshoo’s COVID-19 Marketing Resource Center for his most up-to-date research and analysis. He’s also appeared in numerous publications and webinars recently as the entire industry copes with this global issue.

Given the unique nature of his work over the last few months, we decided to sit down with him and get more insight into what it’s like to be an analyst during this time.

Five questions with Chris “Coz” Costello on COVID-19 advertising research

What is different for you, or for the field of research and analytics in general, in terms of how you’re analyzing data during this crisis?

Coz. Personally, I can say unambiguously that I’m asking a lot more of Kenshoo data. That means I have to adopt a higher standard when it comes to things like data quality and data hygiene. Imperfections or sources of error that you might otherwise overlook can be a bigger headache when there’s more at stake, so I find myself looking at assumptions I have about the data, making sure they’re correct, and thinking about how, with some tweaking, they might inform a better analysis. 

The same goes for KPIs. Maybe you’ve known they could be better and have been putting off fixing them, and this would be a really good time to actually do that. I’ve said over and over that digital advertising needs to get back to fundamental principles—right time, right place, right message—and this is pretty much the same thing for analytics. Is your data as accurate as it could be? Are you looking at the right metrics? “Close enough” isn’t going to be good enough during a pandemic.

How much of your analysis is automated, via dashboards and other data processing or visualization tools?

Coz. My workflow is typically messing around with large datasets in more basic tools like Excel, and then once I’ve got a better idea of what I’m trying to do, I’ll try to build as much of that as I can in Tableau, so it’s more easily repeatable, scalable and shareable. 

But that only goes so far, mostly because I’ve been using Excel for, like, twenty-five years now and Tableau for less than five. So I may do the basic views in Tableau and then dump summary-level data as a crosstab to get things to really sit the way I want in Excel. It may take a bit more time, but one thing I like about this hybrid approach is that you’re not relying on the tools to do all of the work. When you’re a bit more hands-on with the data itself, pulling it apart and putting it back together, it ends up being the equivalent of how writing something out longhand is better for memory than, say, typing. If your goal is understanding the data, I feel like there’s no real substitute for getting your hands dirty, and I’m not just saying that out of self-preservation in an era of machine learning. At least I think I’m not. I like having the robots on hand to do stuff! Just not all of it.

In the Kenshoo Q1 2020 Quarterly Trends Report, there is a “Signs of Recovery” section. How did you approach this analysis?

Coz. There’s a real danger right now of being overly reactive to transient spikes in the data, in either direction. So while week-over-week trends are important, they are very short-term, and you don’t want to mistake a spike for a trend. Including a medium-term and long-term view of those trends gives a bit more context. 

Last week may have been up versus the previous week, but how did it compare to the average over the last four weeks? What about month-over-month, or a four-week period over the previous four weeks? We look at all of those, first for aggregate spending in a category, and then for other metrics that might tell us something useful. Impressions in the paid search and ecommerce channels reflect product searches and product views in a category, while CPM in paid social will increase as advertisers see more value in getting in front of particular audiences. 

At the end of the day—or more specifically, at the end of every week—it’s a combination of short-, medium- and long-term views across spending and other KPIs that start to draw a picture of where the recovery might be more sustained, or where it may have turned things around more recently.

In the Quarterly Trends Report, you projected what the Q1 2020 channel growth might have been without the impact of the pandemic. What approach did you take to figure that out? 

Coz. The first approach was to simply compare spending from March of last year to both January and February of last year, and then apply those two ratios to January and February data from this year, since spending was humming along at a normal clip at that point. Then we got a bit more granular and looked at the year-over-year growth by week for the first two months of the year, which gives you more data points to consider. So, it’s a more stable trend and a more targeted calculation. 

Applying that year-over-year growth trend to the specific weeks in March that were affected gave a bit of a tighter, more conservative estimate. So that allowed us to give a range for Q1 growth because it seems kinda silly to die on the hill of a specific number when you’re making an educated guess.

From an analytical perspective, how relevant is historical data in a COVID-19 world?

Coz. Well, it still provides the context of what “normal,” or what used to be “normal” looks like. So you can look at how you are trending as an individual advertiser, or as a channel in aggregate, and at least get some sense of where you are, rather than getting too distracted by the very short term trend. 

Even in the middle of March, when digital ad spend was starting to decline, we were able to look at the same period last year and see that at least some of that decline seemed like a normal slowdown that we would see in late Q1 and early Q2. So if the impact of the virus was even just a little less than it looked like initially, that’s something that may help understand how the normal levers and normal seasonality may affect the recovery.

Check out Kenshoo’s COVID-19 research hub

Visit Kenshoo.com/Covid-19-Resources/ to check out more of Coz’s analysis and the most up-to-date information.

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Cookie Name TDCPM
Cookie Expiry 1 year
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Host(s) .google.com
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Cookie Expiry 6 months 2 days
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Cookie Name MUID,MUIDB
Cookie Expiry 1 year 3 weeks 4 days 1 second
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Purpose Cookie from Double Click (Google) which helps us to analyze and optimize our advertising campaigns.
Host(s) doubleclick.net
Cookie Name IDE
Cookie Expiry 1 year 3 weeks 4 days
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Provider Facebook Ireland Limited
Purpose Cookie by Facebook used for website analytics, ad targeting, and ad measurement.
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Cookie Name _fbp,act,c_user,datr,fr,tr,m_pixel_ration,pl,presence,sb,spin,wd,xs
Cookie Expiry Session / 1 Year
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Provider Trendemon
Purpose Track surfing habits and provides Banners and tailored content
Privacy Policy https://trendemon.com/privacy.html?v=2018
Host(s) .kenshoo.com
Cookie Name trd_vid_l, trd_vid_2003
Cookie Expiry 1 year 22 seconds
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Provider Trendemon
Purpose Track surfing habits and provides Banners and tailored content
Privacy Policy https://trendemon.com/privacy.html?v=2018
Host(s) .kenshoo.com
Cookie Name trd_vuid_l
Cookie Expiry 1 year 22 seconds
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Host(s) .kenshoo.com
Cookie Name trd_sid
Cookie Expiry 30 minutes
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Cookie Expiry 1 year
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Cookie Name trd_ma_cookie
Cookie Expiry 12 hours
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Host(s) trackingapi.trendemon.com
Cookie Name trd_gvid, trd_gavid_2003
Cookie Expiry 7979 years 6 months 2 weeks 1 day 22 hours 48 minutes 21 seconds
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Provider Trendemon
Purpose Track surfing habits and provides Banners and tailored content
Privacy Policy https://trendemon.com/privacy.html?v=2018
Host(s) .kenshoo.com
Cookie Name trd_first_visit
Cookie Expiry 1 year
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Purpose Track surfing habits and provides Banners and tailored content
Privacy Policy https://trendemon.com/privacy.html?v=2018
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Cookie Name trd_exitintentclient
Cookie Expiry 1 year
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Purpose Track surfing habits and provides Banners and tailored content
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Cookie Name trd_cid
Cookie Expiry 1 year 25 seconds
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Host(s) kenshoo.com
Cookie Name s-9da4
Cookie Expiry 15 minutes 25 seconds
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Host(s) kenshoo.com
Cookie Name kenshoo_tapad_id_sync
Cookie Expiry 1 day
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Host(s) kenshoo.com
Cookie Name kenshoo_id_match
Cookie Expiry 1 week
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Host(s) .xg4ken.com
Cookie Name kenshoo_id
Cookie Expiry 1 year
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Host(s) kenshoo.com
Cookie Name d-a8e6
Cookie Expiry 1 year 25 seconds
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Provider google.com
Cookie Name pagead/1p-user-list
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Host(s) google.com
Cookie Name ads/ga-audiences
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Host(s) .pardot.com, kenshoo.com, www2.kenshoo.com
Cookie Name visitor_id#-hash
Cookie Expiry 10 years
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Host(s) trackingapi.trendemon.com
Cookie Name api/events/pageview
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Host(s) trackingapi.trendemon.com
Cookie Name api/events/uplift
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Privacy Policy https://trendemon.com/privacy.html?v=2018
Host(s) kenshoo.com
Cookie Name trd_ctahistory
Cookie Expiry Persistent
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Provider Google Tag Manager
Host(s) kenshoo.com
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Cookie Expiry Persistent
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Cookie Expiry Persistent
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Provider Owner of this website
Purpose Enables the website to make variations of their landing-page. This is used to minimize bounce-rates, which means that fewer users leave the page immediately.
Host(s) kenshoo.com
Cookie Name ub-emb-id
Cookie Expiry Persistent
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Provider adsrvr.org Pixel
Purpose Presents the user with relevant content and advertisement. The service is provided by third-party advertisement hubs, which facilitate real-time bidding for advertisers.
Host(s) adsrvr.org
Cookie Name track/cmf/generic
Cookie Expiry Session
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Provider Twitter
Purpose This domain is owned by Twitter. The main business activity is: Social Networking Services. Where twitter acts as a third party host, it collects data through a range of plug-ins and integrations, that is primarily used for tracking and targeting.
Host(s) twitter.com
Cookie Name personalization_id
Cookie Expiry 730 days

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