More Data Please, Be Careful What You Ask For
U.S. Ad Spending: According to Magna Global, the U.S. ad market will rebound in 2021 with ad dollars growing year-over-year by an estimated 25%, totaling $284.3 billion.
What is Data-Driven Advertising? Data-driven advertising helps brands understand the customer journey and provides insights that allow for a “personalized” experience. It helps brands reach the right audience on the channels they use.
Data-driven advertising isn’t new, but it is increasingly the deciding factor in advertising planning as well as the measurement of a successful campaign.
Does data provide valuable insight into a potential consumer? Sure.
Does data allow an advertiser to follow the consumer across multiple touchpoints, across multiple devices, bordering on creepy? It does.
Does data driven advertising have a place in the strategy of your media campaign? It absolutely does. Should it be the only factor in your media strategy and determining a campaigns success? Not a chance.
One facet of the work we do at A3 Media is constantly vetting new companies. Is every company we vet a perfect fit for our client’s needs? No! However, we have found and established invaluable relationships and implemented many new and unique tools through the process. This process helps enable us to be more versatile and better informed, which, in turn, allows us to provide better service to clients.
Enter Converged TV – the blending of linear, connected and addressable TV. Converged TV measurement is a blended measurement of the effectiveness of linear and digital TV.
Linear TV Linear TV has been measured historically by rating points, the percentage of viewers of the total possible audience. More recently there has been a shift to view linear TV by impressions (putting it on a more equal scale to digital properties). Linear TV, ratings or impressions, at best represent an estimate of the audience. If this isn’t murky enough add to the equation, the leading source of TV ratings is also establishing the statistics for TV households as well as the potential audience size.
Reviewing the intricacies of linear TV measurement could lead to an ongoing series, the topic at hand is converged TV measurement. To make a long story short, an analysis of predictive modeling based on estimated ratings, or impressions, for linear TV should be viewed as marginally accurate. If this isn’t convoluted enough, add the manual steps and time delay necessary to secure the final modeling. These additional steps can require enormous man-hours and can take anywhere from several days to several weeks to complete.
Does this “data” allow for optimization of your linear TV schedule with all these obstacles? Next, add the associated costs for this service – six figures a year.
Connected and Addressable TV Connected and addressable delivery and engagement truly is much more measurable using household and device data, delivery and conversion measurement capabilities. This, almost, real-time analysis does lend itself to campaign optimization. The fees for this type of data are typically calculated as a percentage of the media cost.
The final blended summation is still at the heart of the issue.
Is it data? Yes.
Does it contain a substantial amount of inference? Absolutely!
Is this the type of data you want to hang your hat on to dictate your media plans? Uhm…..no.
Is this a sound foundation to determine the course and success of your media campaign? Not completely.
There may never be an end to the search for more and better data but until something better comes along, this is it. So, in the rush for data always ask for a clear explanation of the source, calculations and accuracy of the information presented – all data is not created equal!