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Advertisers and Agency Heads Tackle New Media MetricsMarch 6, 2008 Developing standardized metrics is always a challenge when gauging the success of a campaign, but it becomes even more of a conundrum now that we’re heavily embedded in the digital age. Such was the gist of a session entitled “The Real New Media: Impact and Measurement,” held at this year’s AAAA conference in Orlando, which began March 5 and will be running til March 7. Moderated by Nick Pahade, executive director of digital development, Publicis Group and president of Denuo, the discussion also included incisive musings from a distinguished panel. Sounding off were Judy Vogel, senior vice president, director of research, PHD US; Konrad Feldman, co-founder & CEO, Quantcast; Jeremy Lockhorn, director of emerging media and video innovation, Avenue A/Razorfish; and Robert Davidman, chairman/CEO of EarthQuake Media.Pahade opened up the dialogue by asking the guests the following question: With so many new applications being developed, has the advertising community reached a saturation point? Feldman replied: “I think fragmentation is a good thing because it gives the consumers what they want. That fragmentation has given us new approach for measurement.” Vogel concurred with the sentiment. “Fragmentation is really an opportunity. It does create its own set of challenges. Finding the right applications and opportunities to address [measurement] objectives itself a challenge given that [digital] is expanding at a rapid pace. Davidman piped in by ruefully voicing a familiar industry complaint: “There are so many options and as an agency, how do we help our clients to understand which one is better? Which one will work better in terms of technology but a lot of technology will do the same thing. But right now there is really no standard that will tell us that this is any better.” Are there tools out there to gauge success? “We are working with the clients to understand the number of conversations we have everyday about their brands,” said Davidman. “What we [are doing now] is that instead of trying to reach 1,000 people and hopefully influence 10, we actually engage 10 people to influence 1,000.” Feldman added that the traditional measurement approaches are reaching a breaking point. A lot of metrics were developed from broadcast media. But the Internet isn’t broadcast. “It’s delivered individually to the user. We’ve previously thought about measurement as a planning and post-campaign tool. The future of advertising is about directing it to specific individuals.” Distilling everything down to specifics is critical to creating a legitimate metrics instrument. “We do need granularity in measurement when the choices become increasingly fragmented,” said Vogel. “To understand a lot of the traditional metrics is important but the challenges we face in the new media space is why and how effective is the advertising in the space. There is still a missing component…” Pahade deepened the discussion by asking the panel about how social media is affecting the quest to develop reliable measurement tools. Davidman said it’s beneficial because “we have the ability to get more feedback from the consumers. We can understand what’s working and what’s not working. We’re optimizing on the fly and making changes…Social media gives validation to a client.” Still, clients vary as do performance levels for campaigns, said Lockhorn. “I almost wonder if it’s too early to get concerned about standardization of metrics…What we need to measure is different for every client,” he noted, adding that engagement levels should be measured, such as the amount of time consumers spend interacting with a video ad. “All of those things are starting to factor into multiple touch point analysis.” Ultimately, metrics may all be about “identifying what the role of media is in the context of a campaign,” continued Lockhorn. “But it’s also really tied to the messaging,” said Vogel. “What is a trusted source to a consumer? Word of mouth will always be right at the top.”
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