What is the “Making Measurement Make Sense initiative?
Making Measurement Make Sense is an ecosystem-wide initiative that aims to develop digital metrics and advertising currency that facilitate cross-platform measurement and evaluation of media.
Under the auspices of the IAB (Interactive Advertising Bureau), the ANA (Association of National Advertisers) and the 4A’s (American Association of Advertising Agencies), business leaders and functional experts have come together to transform today’s cumbersome supply chain into a simple, transparent one that permits efficient planning, buying and evaluating of digital media in a cross platform world.
To ensure that consistent policy and standards regarding measurement be institutionalized, Making Measurement Make Sense will develop recommendations for roles, responsibilities and scope of a measurement governance panel that will function like FASB (Financial Accounting Standards Board). An ongoing measurement governance body will serve as a change management agent as media and devices proliferate and our industry must move ever more quickly to understand consumers.
Who is involved in the “Making Measurement Make Sense” initiative?
Making Measurement Make Sense is a joint undertaking of the IAB, the ANA and the 4A’s. These organizations, which represent the value chain in marketing and advertising, have engaged the consulting firm Bain & Company and the strategic advisory firm MediaLink to independently manage the initiative. The Newspaper Association of America (NAA) and the Online Publishers Association (OPA) have joined the initiative as supporters.
What is the impetus behind the Making Measurement Make Sense initiative?
The absence of a consistent approach to measuring and assessing the effects of digital media has resulted in a cacophony of competing and contradictory measurement systems, contributing to a complex and costly supply chain for the industry. While consumers have embraced digital media and continue to adopt new devices and new media behaviors, the marketing and media business have yet to create the tools necessary keep up with consumers’ behavioral changes.
What are the primary objectives of the Making Measurement Make Sense initiative?
Making Measurement Make Sense has three primary objectives:
Define standard metrics and measurement systems that are transparent and consistent to simplify the planning, buying and selling of digital media:
- Analyzing the current digital measurement situation from a business perspective
- Defining a common currency for measuring online exposures
- Developing accepted standards for brand impact measurement online
- Creating an effective methodology for cross-media measurement
Drive industry consensus around the solutions:
- Gaining stakeholder input
- Engaging industry leaders to champion the measurement process
Establish a measurement governance model:
- Creating a structure for an ongoing measurement governing body
- Establishing a governance and standards-setting process
Developing an implementation plan for the roll-out of metrics, standards and management structure
- Define standard metrics and measurement systems that are transparent and consistent to simplify the planning, buying and selling of digital media:
How will this initiative build upon prior work done by the IAB and the Media Rating Council (MRC) and/or other existing initiatives?
Unlike prior initiatives, Making Measurement Make Sense brings together stakeholders from across the online advertising ecosystem to work together towards common goals. Making Measurement Make Sense will build upon the work of other initiatives; however, it will continue to be a unique, independent undertaking in creating a unified voice for cross-industry policy.
How will Making Measurement Make Sense be beneficial for each of the constituents of this body?
For all the constituents, a unified and standardized system of measurement will reduce complexity in the planning, buying and selling of digital media and will facilitate cross-platform comparison.
Specifically, marketers will be able to gain deeper and broader insights into consumer experiences with digital media and to more effectively reach and communicate with the right consumers at the right time for their brands both within online media and across media platforms.
Agencies will be able to develop more strategic and creative opportunities to get their clients’ brand messages to consumers. They will be able to effectively allocate spend, and additionally will realize operational benefits from being able to standardize offerings and analyses for multiple clients.
And publishers will be able to better describe and demonstrate the unique benefits that digital can provide, while also supporting their advertising partners in measuring the brand impact of digital advertising.
Which industry leaders have been contacted by the Making Measurement Make Sense team?
The Making Measurement Make Sense team has interviewed stakeholders throughout the online advertising ecosystem. The team has spoken with publishers, marketers, agencies, vendors, industry associations and measurement services. As the process moves forward, we will continue to garner input from across the ecosystem.
What is the timeline for the Making Measurement Make Sense initiative?
The first phase of the Making Measurement Make Sense initiative will conclude at the end of July 2011. In the following phases, the ongoing measurement governing body will be responsible for executing the roll-out of metrics and standards at agreed-upon times. Some metrics and standards will be quick wins with short-term implementations, while others will be longer-term objectives.