Results tagged “Making Measurement Make Sense” from IABlog
Marketers love digital media, plain and simple. The digital platform gives marketers opportunities to create conversations and consumer relationships that heretofore were not possible. Brands are being built and results are being generated due to digital’s expansion within the marketing mix.
But marketers are also frustrated by the lack of “viewability”. In 2012, according to various sources, 1.8 trillion display ads were paid for, but could not be seen. We are close to realizing a material improvement to this fundamental issue: viewability. Yes, the viewable impression is nearly here. The Media Rating Council (MRC) expects to lift its Viewable Impression Advisory by the end of this year, and at that time marketers will eagerly start buying digital media on viewable metrics. Publishers and agencies, we hope you’re ready.
Marketers reportedly waste billions of dollars annually in display ads that are not viewable. ANA’s Board of Directors and the larger marketing community have demanded that viewability become the basis for digital currency and transactions.
In February 2011, when ANA joined with IAB and the 4A’s to start the Making Measurement Make Sense initiative, we recognized a tremendous shortfall in digital spending productivity. We saw a substantial confidence gap in understanding the value of marketing investment in display and video advertising. We were horrified that the media that was “supposed to be the most accountable” was turning out to be the least accountable. With great anticipation, we are now just a few months away from resolving a significant driver of this dilemma.
The foundation of this excitement is the overdue shift from served impressions to viewable impressions. It gives marketers the assurance that consumers get to see the ad that they paid to place. Critically, it opens the opportunity for apples-to-apples cross-platform comparisons that will increase marketer confidence in the development of intelligent and capable multi-screen marketing plans. It provides marketers with the accountability they need to embrace digital more enthusiastically. There’s also a great benefit for publishers, agencies, and others that succeed in making the transformation to viewable, as they will become the preferred partners of these hungry marketers. The upside is enormous for all those that make the shift.
We recognize, however, that the move to viewable is rattling many businesses to their cores. Publishers need to adopt SafeFrame to increase the proportion of their inventory that is measurable for viewability, and to adjust the very constitution of their operations to manage this important currency change.
We understand that the system will be imperfect. Refinement of viewable impression transactions will continue even after the MRC Advisory is lifted. For example, new complexities in discrepancy resolution will need to be explored and resolved
There is no turning back. The marketing community has waited too long and wasted too much money not to make the leap to viewable. We cannot be frozen by fear or perfectionism either. Without forward motion, we will undermine the advancements already established. We will also undercut future enhancements that will make digital media a more appealing brand-building investment for marketers.
The viewable impression will be the foundation of fundamental innovations such as the Digital GRP. Creating a GRP that is comparable to that in other media is crucial for the evolution of cross-platform analytics. Marketer’s inherent challenge to enhance integrated marketing would be dramatically reduced by a “common GRP.” This would facilitate improved decision-making and resolve cornerstone issues such as marketing mix modeling and media budgeting decisions. Combined with the growing use of the common coding power of Ad-ID, marketing measurement for publishers, agencies, and marketers would be turbocharged.
For the digital media industry, the only question is how fast we can implement these historic changes. The MRC is bounding onwards, completing the work needed to lift the advisory and continuing to guide us toward a more accountable media marketplace. For agencies, forward motion means being ready to rely on the clarity provided by these new metrics to advise and act in the best interests of marketers. For publishers, it means adopting SafeFrame now and being ready to satisfy marketer demand for viewable impression transactions by the end of the year.
This is the age of accountability. If you’re ready to meet the demands of the day, you’ll be greatly rewarded. But if you’re not a participant, you’ll run the risk of being left on the sidelines. Let’s do this all together and move the industry decidedly forward.
About the Author
Bob Liodice is President and Chief Executive Officer, Association of National Advertisers
- Focus on implementing SafeFrame on high-value properties first
- IAB is developing a testing tool vendors can use to test their SafeFrame-enabled tags
- Create tags that work with the SafeFrame API and test them in IAB’s testing tool when it’s available
- Publishers should implement SafeFrame as soon as possible and begin collecting data to show what they can measure with SafeFrame
- Vendors should use SafeFrame tags with publishers who have implemented SafeFrame and begin collecting data that they can compare with publishers
- Select publishers and vendors should consider working with 3MS and the MRC to re-run pilot tests that establishes comparative benchmarks to those gathered in the aforementioned MRC viewability tests
- Publishers: Help the IAB define a “Publisher Onboarding Guide” for the industry to use as they work toward SafeFrame implementation
- Vendors: Create tags that work with the SafeFrame API and test them in the IAB’s testing tool when it’s available
- Publishers and Vendors: Contact MRC about participating in a round of viewability testing where SafeFrame is used. Particularly useful in these tests are companies that have already participated in earlier rounds of testing where SafeFrame wasn’t used
Consumers today are setting the pace for online marketers and brands, and the digital media technology is out there to listen to customer cues and respond with relevant, engaging communications. But what does it take to be truly customer-obsessed? Is the industry at large living up to the promises of real-time interactive marketing? The unfortunate answer is no. At least at this time.
This week, PulsePoint, in collaboration with the CMO Club and Digiday, announced the results of a groundbreaking study that examines the digital marketing capabilities, top challenges and priorities of nearly 400 senior marketers, agency executives and publishers.
From a capability standpoint, the large majority of survey respondents were comfortable executing multi-channel campaigns across two or more channels. However, the challenges start occurring when marketers are tasked with applying lessons from one channel to improve efforts in another channel (cross-channel). The wake up call revealed by the survey results is that, across the board, a majority of marketers, agencies and publishers lack the capabilities to execute real-time interactive marketing.
In an environment where consumers are freely flowing and engaging with ads and other content on their own terms across channels and devices, the industry at large must evolve to keep pace. The lack of real-time efficiencies is creating a massive “digital divide” between consumers and the current marketing practices used to reach and engage them.
So what is the problem? What are the barriers to this evolution? When we began this research, we hypothesized that we would find inconsistencies and gaps in the capabilities and priorities amongst ecosystem players. As it turns out, this research shows that the industry is largely aligned. However, for an industry claiming to be as customer-obsessed as we are, these results show that we are missing the “relevance mark” set by consumers - largely due to two key challenges.
We’ve all seen the LUMA ad-tech chart. The fragmented direct marketing landscape of point-solutions from the sell-side to the demand-side add overwhelming complexity to cross-channel execution. Because the industry is currently focused on dealing with complex technologies and multiple channels and platforms, ecosystem players are often operating in functional silos. Further, this overwhelming complexity, coupled with the functional silos used to manage various channels and point solutions, robs bandwidth and results in the consumer perspective often getting lost.
Lack of Unified Measurement
Unified measurement (something the ANA, 4As, and IAB are all actively pursuing through the Making Measurement Make Sense initiative) enables the tracking of consumer journeys and connected customer experiences - this is critical to advance from multi-channel to cross-channel marketing, and the industry at large is currently lacking this core capability. In addition to unified measurement to help marketing, agencies and publishers “connect the dots” for unified consumer-customer views across channels, there is also a need for more full-funnel thinking and better attribution beyond the last click. Planning, executing and measuring from the perspective of targeting and tracking consumers throughout the funnel, enables a broader, longer-term view of digital marketing programs, targeting methods, and brand engagements.
It’s time to further evolve. In this regard, the study uncovered two underlying factors that in large part account for effectiveness, and, when applied in union, work together to overcome the challenges of complexity and lack of unified measurement. Real-time intelligence and unified automation are two evolutionary forces that provide the basis to enhance digital marketing execution, and thus, help bridge the current digital divide.
These two forces are reshaping the digital landscape and, over time, will enable the industry to consolidate around smart “end-to-end” solutions and evolve towards more real-time adaptive markets, with real-time efficiencies, transparency and fair value discovery. These forces will allow the industry at large to truly become customer-obsessed and reach the “relevance mark” set by digitally-empowered consumers.
About the Author
Dr. Karl Lendenmann
As vice president of marketing and analytics at PulsePoint, Dr. Karl Lendenmann is responsible for driving company-wide best practices in key areas that increase the relevance, engagement and value of PulsePoint programs for both advertisers and publishers.
2012 is fast becoming the year of Sight, Sound and Motion, if you haven’t already noticed. The proliferation of tablets is helping to fuel the flames around the globe. But the content bonfire is happening beyond any of their borders.
This year opened with “the money shot” in entertainment — the Super Bowl, followed by the Jeremy Lin “Linsanity” passing the ball to the Hunger Games. Continuing with that sports analogy, The Olympics will soon drive down the middle and setup the assist to the summer political conventions rabidly known for brand spin and personal storytelling.
Fresh premium entertainment content premiering on powerhouse webcasters holds the potential to redefine TV this fall and it is anyone’s guess what the holiday season will hold for innovation in retailing, travel, and shopping. As Occupy Wall Street and Arab Spring leaders will tell you, the revolution will be streamed. So where does that leave those of us in commercial messaging?
Last week at the IAB Digital Video Agency Day we scratched the surface of the some of the thorniest question facing us as an industry: Measurement, Creativity, and the role of Digital Video (“DV”) in media planning. For various reasons each of these questions currently impedes the sector’s growth potential. For some it is a matter of reducing friction in supply chain, for others, the story lies in unlocking the potential of the medium to speak with a voice we don’t hear in other platforms. A few themes emerged, and I had three key takeaways:
1. DV needs to be a higher priority in media planning.
It is a front line strategy, not an afterthought. Savvy marketers understand that translating a :30 into a :15 rarely unlocks the platform’s optimal potential. Leading creative executions from Droga5, HUGE, M ss ng P eces, Anomaly, and Blast Radius displayed cutting edge visuals with an eye toward biometrics, social media, and gameification — trends that will define the space. Marketers are increasingly seeing themselves as content producers who need to fill the pipes every week — if not daily — with fresh content on Facebook Pages and fan blogs. Agencies continue to be the ad sherpa into the heights of the unknown reaches of social marketing. The need for greater innovation was urgent and clear.
2. Measurement is a blueprint, tools build the house.
We must improve measurement, and work with publishing partners who control differentiated technology. Not only in theory, but in practice. Making Measurement Make Sense (3MS) laid out the market case for a shift toward a viewable impression and demographic GRP. These concepts, in conjunction with upcoming pilots, resonated with audience members desperate to have clearer ROI metric across all media. At times as an industry we tend to get ahead of ourselves, focusing on the wish-list items as opposed to the must-haves. We need to be able to compare apples to apples first, before diving deeper into discussions about Granny Smith versus Red Delicious.
Measurement heavyweights comScore and Nielsen opine on measurement tools and audience tracking. We still have a great deal of ground to cover in that direction, particularly on the mobile front. The MRC will play a large hand regulating the means of this new digital currency. The new coin of the realm must then be considered as legal tender throughout the empire, in order to be successful.
3. Creativity turns heads and wallets.
The price is what you pay, value is what you get - invest in creative and choice media to feature your distinct point-of-view. The flexibility, scale and budget effectiveness of DV allows the medium to be both cavalry and ninja in the attack. The afternoon’s creative showcase underscored this perspective.
We will be debating many of these challenges further at the IAB Digital Video Marketplace this Tuesday, April 10, as we address many of these challenges and strive to drive innovations in the digital video ecosystem. Come join us!
About the Author
Seneca Mudd directs IAB’s programs and member initiatives for the Digital Video, Networks and Exchanges, Social Media, and Multicultural Committees and Councils. He specializes in industrial solutions, market development, and revenue advocacy among the advertising agency community. He can be reached on Twitter @muddzhlinger.