Contemporary Common Keys in Advertising

The same can be said for advertisingamp160 Reach and frequency are generic terms we use with ease but measurement systems including Nielsen Arbitron and TAB use complex independent metrics to interpret their meaningamp160 These systems gauge success within media categories differently without a Rosetta Stone or a amp8220common keyamp8221 to create a common denominatorThe amazing success of web and mobile advertising has created a forcing function around metricsamp160Web and mobileamp8217s advertising rise was made possible because they offered something easier to value and buy than traditional mediaamp160 The amount of ad dollars spent on web and mobile has grown from 12 billion in 2005 to almost 60 billion in 2015 according to eMarketeramp160 That size and the growth rate are a testament to their amp8220digitalamp8221 media characteristicsamp160 Web and mobile provide vast underlying ad stats in a common form that can be easily compared across different ad units and against which value can be attributedamp160The use of a universal currency just like in the world of finance is the foundation for a liquid marketplace that operates with efficiency and establishes true valueamp160amp160This should be the goal of the entire media industrySome traditional media types have benefited from todayamp8217s lack of efficiency and transparency television while others suffer because of it outofhomeamp160 Thus certain traditional media publishers will be slower to adopt amp8220digitalamp8221 characteristics than others but all will be compelled to aggregate data and build these tools in order to have access to the everincreasing digital dollar poolsThere are five characteristics that define amp8220digitalamp8221 advertisingamp160 In order to be considered amp8220digitalamp8221 media must be1amp160Close to the point of purchase You are only a click or two away from the buy decision2amp160Provide Data with Common Keys Deep audience statistics that are derived from the publisheramp8217s own assets but supplemented and enhanced with third party sources in order to give greater insights to advertisers about the strength of the publisheramp8217s media3amp160Measured by Simple Metrics with which advertisers can plan and evaluate a campaignamp8217s success using hyper accurate impression counts audience data sold against a CPM that can be compared across the many different media categories from video preroll to display to search billboard Cinema TV and radio spotsamp1604amp160Targetable Using historical and real time data a CMO can efficiently and with precision direct investment against specific audience segments5amp160Optimizable such that advertisers have direct access in real time to a campaignamp8217s creative and messagingamp160 This provides the CMO with a tool that can react on the fly in an ever more dynamic marketplaceamp160amp160What is so important about common keysamp160amp160 The current lack of common keys for traditional media results in a fairly inefficient and largely illiquid media marketplaceamp160 Statistics collected from disparate sources and cleansed from PII need a amp8220keyamp8221 in order to make associations between uncommon data setsamp160 Those keys allow media buyers and publishers to combine first and third party data into digital amp8220avatarsamp8221 for audiences without being creepyamp160amp160 With regard to metrics television has Nielsen radio has Arbitron newspapers have circulation and outofhome has TAB ratingsamp160amp160 Each of these traditional media categories built their individual ecosystem ratings around a need to prove effectiveness to their clientsamp160 But they did so in their own way with their own rules and with varying degrees of efficiency and transparencyamp160 Agencies then built their buying teams to accommodate these different media types with specific pools of experts siloed within each media categoryamp160 And thus the traditional market cemented the established inefficient channels and practicesThen along comes web and more recently mobile advertisingamp160 Google Facebook Aol Yahoo and many others offered a simple concept A number of impressions within a selected audience segment for a cost per thousandamp160 Digital publishers using their vast amount of realtime data were able to make this process simple and auditableamp160 CPMs are added as an easy way to differentiate value amongst the inventory types by dwell time visibility etcamp160 Relative to traditional media advertisers within the digital world know that they made exactly the intended number and type of impressionsamp160 Most traditional media formats currently provide a loose extrapolation of a survey or sample size affixed with an intangible and unconnected media category ratingamp160 The efficiency in web and mobile advertising is thus much more attractiveIn order to have common keys in measurement the IAB created standards and protocols which allowed the digital category to flourishamp160 The IAB continues to refine them and is in the process of considering how to accommodate traditional mediaamp160amp160 This is a critical first step for a truly efficient media marketplaceWhile this sounds perfect all is not peachy with web and mobileamp160 The shortcomings of web and mobile and the strengths of traditional media get lost in the stampede to spend money on media with digital characteristicsamp160amp160 Bots clickfraud infinite inventory counts RTB adblocking software blind longtail site placements and mobileamp8217s small form factor are just some of the drawbacks with web and mobileamp160 These challenges will eventually cause a revaluation of the digital category but digital dollars need an alternate path in order to start the revolutionWhile web and mobile work on ad delivery credibility traditional media must move into the digital buying ecosystem using audience data and the same common keysamp160amp160 It must provide a view of how consumers move engage and react using real time data a common language and a Rosetta Stone for advertisersamp160 amp8220Breaking down silosamp8221 is a metaphor with positive connotations and should be internalized by all publishers media owners and ad agenciesamp160amp160 It is what serves advertisers bestOn the other hand and amongst other strengths traditional alternatives have the powerful ability to build brand equityamp160 Out of home media specifically provides advertisers with guaranteed viewability and spectacular size and has valuable limited inventory counts associated with iconic high traffic locationsamp160 Location cannot be adblocked by software and it has become the new cookie when identifying audiencesamp160 As an exercise to compare mobile and traditional advertising name a great TV commercial and then try to recall your favorite mobile campaignThe transition has begun across the media landscapeamp160 Note that ESPN launched their own DMP Google is building an automated audience based ad platform for television within its fiber markets Rubicon and App Nexus are incorporating traditional media inventory into their platforms and Comcast bought Visible World in part to give advertisers realtime access to creative within their broadcast streams amongst many other initiativesamp160amp160 Agencies are also questioning their own media buying silos as their digital andor programmatic teams ingest new data in order to evaluate other media categoriesamp160amp160 Our industry is slowly building a more liquid market and an automated bridge from advertisers to all publishersOutfront Media is quickly evolving into a digitally enabled advertising company and leading the way in the outofhome industryamp160 This goes beyond the conversion of billboard screens or the deployment of new technology and connected networksamp160amp160 We are focused on data with common keys that will allow for participation in the larger amp8220digitalamp8221 ecosystem campaigns that can be targetable and optimizedamp160 We are already close to the point of purchase and always have been a combined mobile offering will bring us even closeramp160 We are blazing a new trail in the OOH spacePretty soon the term amp8220digitalamp8221 within advertising will be like the word amp8220electricityamp8221 from 100 years agoamp160 Electricity was once a novelty and something that first adopters used to leapfrog established practices Today it is commonplace and expectedamp160 Shout out to Tom GoodwinHavas for this metaphoramp160 All traditional media will morph into the digital world eventually it is just a matter of time data technology amp8230 and common keysThe opinions and points of view expressed in this commentary are exclusively the views of the author and do not necessarily represent the views of MediaVillageMyersBizNet management or associated bloggers

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Contemporary Common Keys in Advertising

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Andy Sriubas

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