NEW YORK Mindshare is attempting to improve the state of buying and measuring Web video through a new partnership with online video ad network YuMe.
The two companies have collaborated to create a metric they’re calling the Internet Gross Rating Point, or iGRP, which is meant to serve as a comparable ranking measure to the TV world’s long-standing GRP. The hope behind the new metric, said officials, is to help make it easier for brands to justify shifting dollars from TV to the Web -- and also to help buyers evaluate plans that cut across media -- through the calculation of a campaign's total TV/Web video reach and frequency.
In a white paper released on Monday, the companies detail how iGRPs will be calculated. Essentially, YuMe says it can measure the reach and frequency of campaigns that run on its 500 network sites. Those figures are then used to produce a number that represents the number of GRPs delivered against the total online universe. Finally, YuMe boils that number down to iGRPs for particular targets, such as adults 18-49.
For planning purposes, YuMe claims it can work directly with advertisers to project how many iGRPs a potential plan will deliver on its various network partners -- prior to that campaign’s launch -- just like TV. That sort of predictability is crucial for the business to grow, said officials.
“We’ve taken an important step in beginning to understand online ratings measurements by introducing an online video GRP metric that we hope the industry will standardize around,” said Jayant Kadambi, co-founder and president of YuMe.