“Until the principles by which we approach measurement of audiences are updated, especially any audience reached through linear television, advertisers are limited by nearly 6-decade old standards based on a time when surveys were a practical mechanism for measuring audiences.” That’s the perspective of John Brauer, VP, Insights and Analytics, Effectv. And he’s right, the media landscape has seen dramatic shifts over the last ten to fifteen years prompting the need for evolution has arrived.
There is more content, more ways to access that content and more screens to watch content on. And while media measurement was at times slow to keep up with changes in consumer behavior, that too is changing. For advertisers, media can now be bought across platforms based on audience targets that go beyond age and gender. Adequate measurement across pools of media inventory has become increasingly more important for advertisers, but are they ready for this evolution?
Comcast Advertising recently commissioned an Advertiser Perceptions survey to 300 cross-screen TV advertisers to better understand their take on the evolution of media measurement. The need to move beyond basic age and gender demographics is clear. Nearly nine out of ten advertisers agree that measurement partners should work with audience data matching solutions and 3rd party providers.
Nearly three out of four advertisers are willing to try new audience measurement currencies. However, not all new measurement currencies are created equal. There are certain factors that influence their decisions to try new currencies:
The most critical factors for evaluating new measurement currency providers are data scale and integrity, transparency of methodology and proper accreditation. Interestingly, the legacy panel-based measurement system is no longer deemed as essential, with only 4% of advertisers saying a representative panel is the most important factor in a new measurement system – a clear sign of the changing times.
The need for more education is clear: the top reasons advertisers cited for not working with new measurement currency providers is lack of knowledge and concerns on methodology.
For this reason, it’s important to work with industry partners who have access to quality data insights at scale and substantial reach. Effectv aggregates data across 17 million households and matches it to thousands of audience segments. As data capabilities advance, and the impression-based, addressable TV market matures, so too will Effectv’s relationship with our clients, giving them the opportunity to plan and measure data-driven, audience-based television campaigns.
For more measurement insights and survey findings, check out Comcast Advertising’s report: The Evolution and Revolution of Measurement Currencies: A Perspective from Comcast Advertising’s Agency Leadership Council. Reach out to your Effectv representative or contact us to learn how you can take your campaign to the next level and continue growing with the times.