The Interactive Advertising Bureau, the Association of National Advertisers, and the American Association of Advertising Agencies (4A’s) used the IAB’s Fourth Annual Leadership Meeting, Ecosystem 2.0: The People vs. Data at La Quinta Resort & Club in Palm Springs, Calif., to announce an initiative called Making Measurement Make Sense, which is aimed at developing digital metrics and cross-platform measurement solutions to improve marketing and ease media-management decision.
Management-consulting firm Bain & Co. and strategic-advisory firm MediaLink will support the initiative introduced by the IAB, the ANA, and 4A’s.
The trade groups said the three primary objectives of Making Measurement Make Sense are: defining standard metrics and measurement systems that are transparent and consistent to simplify the planning, buying, and evaluating of digital media; analyzing the current digital measurement situation from a business perspective; and driving industry consensus around the solutions.
IAB senior vice president of industry services Sherrill Mane said:
As more consumers have migrated to digital media, marketers have sought to follow them by deploying interactive campaigns. The Making Measurement Make Sense initiative gives the industry the opportunity to understand how to follow and connect with the consumers targeted by these campaigns, and how to measure both within digital and across media platforms.
ANA president and CEO Bob Liodice added:
It is indeed time for the industry leaders to develop a “currency” that is widely and consistently accepted and adopted. 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.
And 4A’s president and CEO Nancy Hill said:
The leading marketing and media trade organizations have united to spearhead an ecosystem-wide solution to many of the critical issues in measurement. The confusion in this area has added costs to advertising agencies, which have been forced to use, subsidize, and staff around increasing numbers of metrics and data in order to plan, purchase, and post-analyze their media buys. This initiative will streamline and simplify those processes.