The future of measurement requires rethink – Experts
By Abimbola Mohammed
The future of measurement requires a major rethink. For this to happen marketers need to understand how unified analytics, the complete integration of marketing mix modeling and multi-touch attribution really works.
As the world of marketing changes rapidly on a fragmented media landscape, coupled with elusive consumers and more stringent privacy regulations around the world, marketers are already hard-pressed to keep up.
In light of the foregoing, professionals in the integrated marketing communication globally shared their predictions, challenges, and solutions as cross-platform and cross-screen measurements remain a top priority for media professionals today.
Anders Lithner, CEO, Brand Metrics, opined that algorithms and Artificial Intelligence are some of the ways to solve the measurement challenges.
“For some time now, most marketing campaigns have not been restricted to one channel. However, measuring cross-media effectiveness requires standardising between the channels, and currently, the industry lacks alignment around measurement.
“What’s more, given that in 2022 we see continued challenges around trust in advertising, it may remain tempting for some to stay comfortable with current measurement approaches because effectively they involve simple counting, and are therefore easy to understand. But there are many approaches available now which we hope more and more companies will use and that will make campaign measurement more accurate. To take advantage of these, we’re all going to have to trust algorithms and AI. If and when we do, it will revolutionise our industry,” he said.
On her part, Danielle DeLauro, executive vice-president, VAB at ANA Media Conference workshop designed to create new media measurement standards where she said: “Cross-media (measurement) is so imperative to marketers, In particular, effective cross-channel measurement equips marketers with the insights they need to make better media planning and buying decisions. If there’s anything that we know, it’s that understanding what your entire investment is doing and being able to pull those multiple levers appropriately and understanding how to reallocate dollars and optimize it is so important.
“If you’re thinking about a calibration panel, one of the best benefits is the fact that no longer is the premium video ecosystem going to be counted based on the one ‘true’ set.”
“Now, marketers, buyers and sellers are going to be able to determine what currency or what measurement provider they want to utilize, have confidence in those numbers because providers’ numbers will be calibrated against a single source, and then be able to make the decision from there. This allows them to just have more comfort and it puts that decision back where it belongs: in the buyers’ and sellers’ hands,” she added.
Jay Pattisall, principal analyst at Forrester, said: “For linear TV, it’s still about understanding its impact on viewership, reach, frequency, awareness and not necessarily to deprioritise those metrics as compared to performance metrics. Look to the media mix and understand how you can measure things appropriately. That way, you can better package up a full understanding of how to use the right channel for the right purpose.”
Sara Vincent, senior director, strategic partner development, Index Exchange, noted that the industry is going to see how Universal IDs, as privacy-first solutions, open up new possibilities for cross-device measurement, including desktop browsers, smartphones and internet-enabled television.
“Media buyers will use these to transform campaigns. It’s a positive feedback loop, as the promise for improved cross-device measurement will encourage media buyers to invest more budget in omni-channel strategies that include CTV–which, in turn, will drive further innovation in programmatic.
“Ultimately, Universal IDs give the industry the chance to scale tech and build strategies that safeguard consumer privacy. Use of these IDs is explicitly based on consumer consent. This promises an advertising ecosystem that allows more thoughtful messaging, more accurate measurement, and a dramatically improved ability to respect privacy preferences,” she said.
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