The advertising industry needs fewer, better metrics

In an industry awash with metrics and KPIs, there is an urgent need for fewer, more impactful ones that are better indicators of communication than those currently being used, a report from global media agency MediaCom APAC argues.

Why it matters

Consumers have shifted their habits, but marketers have not: TV spots are still planned on reach or cost per rating point, OTT Or Connected TV is planned on a cost per reach basis, while video on sharing platforms such as YouTube can be assessed on a ranch of metrics from CPM to cost per completed view %.

The industry needs a common metric to be able to plan media across platforms – and that is attention.

Takeaways

• Understanding what metrics account for the multiple variables that make up quality, and factoring in their contribution, will see a greater likelihood that advertising will shift brand KPIs.
• The differences displayed in the overall value of an impression will see brands that run campaigns across platforms look to build out a custom approach to planning with quality-time in mind.
• Attention impressions have been over 180% more correlated with Nielsen ROI vs viewability alone. 

Key quote

“Media fragmentation should mean that we are aiming to consolidate metrics that have the potential to bridge the gap between strategy & tactics, assist with media choices across platforms, measure media & message together and help with identifying contextual fit in a soon-to-be cookieless world” – Josh Gallagher, chief operating officer, MediaCom APAC.

Sourced from MediaCom [Image: MediaCom]