Digital Advertising

The six myths of digital marketing measurement

The six myths of digital marketing measurement, How you measure digital activity radically affects the strategy and effectiveness of what you do. Leonie Gates-Summer, client director, Millward Brown explains how myths about digital measurement can distort brand strategy.

There is a phrase: “What gets measured gets done”. It’s true in many areas of marketing but in digital the scope for measurement is vast with literally millions of potential data points for every campaign.

The challenge is that with so much potential for measurement, there’s also much more scope to get it wrong. Brands that are wrestling with what and how to link digital measurement to their key KPIs haven’t been helped by the myths that surround this area.

We have identified six myths, all of which can send measurement strategies off track, potentially undermining a brand’s whole digital strategy or at the very least the execution of it.

Myth #1: TV and online video follow the same rules

One of the most common myths is the assumption that online video will follow the same rules as TV, and therefore that a TV ad can just be placed online and will perform in the same way. This ignores the fact that the online environment is very different from TV. The consumer’s frame of mind is goal-oriented and, with a lot more clutter fighting for their attention, their expectations of online content are different.

A strong TV ad will not necessarily make a strong online ad. Brands need to measure both an ad’s creative strength as well as its suitability for the formats and placements in which it will be delivered online.

Myth #2: Just having a presence online is enough to drive brand impact

The digital bandwagon is easy to jump on. However, just having an online presence – be that website, YouTube channel, fan page or advertising presence – does not automatically deliver brand impact.

 If you are aiming for 1m Facebook fans – do you know why? What will you do with them once you have them, and do you know how they feel about your brand?

Having clear objectives and putting in place the right measurement to evaluate success is vital to deliver significant return on your digital investments.

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Source: www.marketingmagazine.co.uk

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Companies to spend less on cable TV advertising -WSJ

Advertisers could cut their spending on cable networks by 4 percent as part of a trend that is shifting ad dollars to the Internet, the Wall Street Journal reported.

The newspaper on Friday cited Procter & Gamble, the largest U.S. ad-buyer, and General Motors among the companies scaling back their television advertising.

The Journal cited sources familiar with the situation as saying the amount of advertisingdollars committed to cable networks in this month’s advance ad-selling season known as the “upfront” would be 4 percent lower than last year. Analysts and industry executives had previously expected an increase of as much as 5 percent and such a downturn would be the biggest decline since 2009.

The report said Comcast Corp, which owns NBCUniversal, was an exception to the downturn as it increased its ad dollars compared to last year’s “upfronts.”

While cable networks had been strong in overall television ad business, those owned by media companies such as Time Warner , Walt Disney Co, 21st Century Fox and Viacom Inchave suffered sagging ratings lately.

The cable cutbacks reflect a shift of advertising money to digital media, although the move is relatively small so far, the Journal said.

“Digital has finally begun to take a bite out of national TV budgets,” said one media buyer.

Source: www.reuters.com

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New Pharma Digital Marketing Benchmarks Show that Online Pharmaceutical Marketing Continues to Drive Brand Awareness, Favorability and Conversions

comScore, Inc. (NASDAQ: SCOR), a leader in measuring the digital world, today released results from its eighth annual Online Marketing Effectiveness Benchmarks for the Pharmaceutical Industry, conducted in partnership with marketing innovation consultancy Evolution Road LLC. Based on comScore’s survey data from 163 pharmaceutical studies, these benchmarks show that online direct to consumer (DTC) marketing continues to increase conversion among patients and prospects. Additionally, the study also shows that pharmaceutical online advertising has the highest viewability rates of any industry, and that consumers are increasingly turning to new platforms such as mobile devices to consume health-related content.

“The importance of pharmaceutical branded websites continues to be high. Our research shows that regardless of how condition sufferers get to the site, that visit has a significant influence in those patients seeking treatment,” said John Mangano, vice president for comScore Health Solutions. “Marketers should also take note of what devices consumers are using to engage with health-related content, as visitation to the category via mobile devices has increased by 36 percent in just the past year. Understanding how to reach consumers effectively through fast-emerging platforms such as mobile will help companies create better marketing and content strategies to connect with both prospects and patients alike.”  

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Source: www.comscore.com

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WhitePaper – When Mad Men Meets Flash Boys

Advertising used to be simple business. My newspaper has a million readers. My TV program has a million viewers. Now let’s negotiate what it’s worth to you Mr. Brand to put your ad in front of my audience. The web made this dynamic a bit more complicated, but early on the process was quite similar. My website gets a million hits per month and now let’s figure out what a banner ad is worth to you. The story got more complicated rather quickly as a bunch of genius coders realized that advertising is actually the perfect domain for technology because tech is capable of bringing way more measurement and accountability than ad buyers had ever seen before. It’s not a coincidence that all of those high flying tech stocks you follow are really advertising companies – think Google, Facebook, Twitter, Yahoo, Baidu. Online advertising is a $100 billion global market, or about 10x larger than it was in the early 2000s. This segment has risen from nowhere to become second only to television advertising but growing much more quickly.

What we find compelling about advertising technology is that it continues to transform in very rapid fashion. The complexity factor took another major leap about five years ago with the rise of something called programmatic buying and real time bidding (RTB). The concept here is that every single website impression creates a live auction. From the time I click my mouse to the time that the web page opens up (a few milliseconds), computers have figured out generally who I am, what I like to browse, what purchases I’ve made online, my gender, etc. This data has been delivered to advertisers and those advertisers have bid for the right to place their ad. The winner of the auction has been selected and the ad is now sitting on my web page. And once again, all of this took place over the span of 10 milliseconds a few billion times in the past hour. The technology used to make all of this happen is very cool stuff – reminiscent of the high frequency trading platforms popularized in Michael Lewis’ new book.

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Source: differencecapital.com

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