Wednesday, May 7, 2008 

Title: Measuring Media

Reference: Vollmer, Christopher. “New Metrics for Media.”enews: Strategy+business, Booz Allen Hamilton. 2008.

In planning for new media purchasing activity, I continue to focus on digital media alternatives. Increasingly the focus is shifting from generic non-measured exposure to specific marketing measurements and impacts. Many of the changes in traditional media measurement are related to the favorable view of new media which lends itself quite readily to actual measurement. In a sense new media measurement is forcing traditional media channels to adopt a more results oriented outlook. Both private and public companies are interested in gaining additional results from media purchasing. Everyone is interested in smarter choices. In the referenced article the commentator makes the same point. “Marketers demand more effectiveness and efficiency from media buys. Digital media are reaching critical mass with consumers." The key is that business wants the ability to track actions, in different mediums, and too substantiate the results. Apparently, the thing that is lacking is standardization and quality measurements. “62 percent of marketers surveyed said that they would spend more on digital media if better cross-platform metrics existed to gauge advertising effectiveness.” The commentator indicates that the shift will require metrics that are comparable and outcome oriented.  I read this to mean real numbers for real actions. The commentator cited the move from surveys to set top boxes in television ratings as an example of this change.  Here are some of the metrics that the commentator expects to be adopted: viewership of advertisements not programs, time spent per session or visit, total brand exposure online and offline, opt in rates, toll-free call volume, and lift in retail traffic. “In fact, nearly 70 percent of marketers…identified improved ROI (return on investment) analytics-along with the consumer insights they deliver-as the most desired of all advertising capabilities.” From my experience this is a very accurate assessment. Scarce dollars must be used wisely and certainly ROI can help in that regard. It is also important to point out that some marketing efforts do not yield a high ROI and that should be satisfactory where collateral goals are understood to be the driver (e.g. fun in the brand). I expect the science of cross channel analysis and metrics to grow and to become essential to all media programs. I will be looking to some of the metrics mentioned and as well as others to help lead my resource allocation. I’d like to learn what others are doing in this area as well.

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