The goal is standardize measurement across media: The three ad trade groups have launched a major initiative to lead the industry in developing digital metrics and cross platform measurement solutions, with the goal of enhancing marketing and media management decision-making. The announcement was made during IAB’s fourth Annual Leadership Meeting, Ecosystem 2.0: The People vs. Data.
The “Making Measurement Make Sense” initiative is a joint undertaking of the IAB (Interactive Advertising Bureau), the ANA (Association of National Advertisers) and the 4A’s (American Association of Advertising Agencies). These organizations, which represent the entire value chain in marketing and advertising, have engaged the management consulting firm Bain & Company and the strategic advisory firm MediaLink, to support the initiative.
The absence of a consistent approach to measuring and assessing the effects of digital media has resulted in competing and contradictory measurement systems, contributing to a complex and costly supply chain for the industry. “Making Measurement Make Sense” has three primary objectives:
Define standard metrics and measurement systems that are transparent and consistent to simplify the planning, buying and evaluating of digital media:
o Analyzing the current digital measurement situation from a business perspective
o Defining a common currency for measuring online exposures
o Developing generally accepted standards for brand impact measurement online
o Creating an effective methodology for cross media measurement
Drive industry consensus around the solutions:
o Gaining stakeholder input and driving consensus around the solution
o Engaging industry leaders to champion the measurement process
Establish a measurement governance model which encompasses:
o Creating a structure for an ongoing measurement governing body
o Establishing a governance and standards-setting process
o Developing an implementation plan for the roll-out of metrics, standards and management structure
“It is indeed time for the industry leaders to develop a ‘currency’ that is widely and consistently accepted and adopted,” said Bob Liodice, President and CEO, ANA. “Online media has an abundance of metrics, but none that serve as currency across the ecosystem. This process will allow the industry to use consistent measurements to evaluate a program’s return.”
Newspaper Association of America has joined the initiative as a supporter, and outreach to the rest of the advertising ecosystem is ongoing.
This initiative is intended to expand and accelerate the work done to date by the IAB and the Media Rating Council (MRC), which have developed some standards for digital measurement including Audience Reach Measurement Guidelines and Click Measurement Guidelines.