Kirti Singh, Procter & Gamble’s chief analytics and insights officer, discussed this subject at the Association of National Advertisers’ (ANA) 2018 Data and Measurement Conference.
And he called upon the gathering to lean into three imperatives that will support a more nimble and effective marketing-research product.
“We need to create a much more transparent data system. We need data to be shared more openly and not be hindered by exclusivity agreements – with walled gardens or with overly-restrictive rights,” said Singh.
“Transparency helps ensure that our industry keeps non-working dollars low so money can be better spent in really [connecting with] our consumers and delivering growth.”
In fact, Singh asserted, “The idea that, even today, we cannot truly say that an impression we delivered was watched by a human being, and not by a bot, is one of the most wasteful areas for us to tackle at an individual level.
“As a byproduct of transparency,” he added, “our consumers are getting annoyed with just the sheer amount of advertising that they’re seeing.
“If we don’t have transparent, cross-platform systems that allow us to really optimise our frequency in a way that’s good for truth, [brands], and good for the consumer, [much] of the advertising becomes completely wasteful.”
Objective measurement is another goal. “Our industry needs objective measurements that all parties can feel confident about," Singh said. "In some cases, this means third-party measurement. In others, it means designing experiments together.”
“Objectivity gives companies like ours confidence to act and ensures that we are spending money on things that truly matter most to our consumers.”
The need for more in-depth information, Singh said, responds to the need for “better datasets to know our brands and how they fit into the full life of the consumer. “Relying on incomplete data,” he stated, “leads to misleading conclusions.”
But data compilation, Singh insisted, must not compromise consumer privacy. “Privacy is very foundational to P&G. We win when consumers win, so there is nothing that we will do that, in any way, short-changes or compromises our consumer.”
Sourced from WARC