While the integration of data and technology has helped transform advertising, it has also created challenges that even seasoned marketers need help with like inconsistent metrics, ad fraud and inefficient infrastructure.
But there is a way to simplify these complexities and shed light on ways you can improve consistency and performance across your advanced advertising strategy. By aligning the backend platforms with front-end creatives, brands can create personalized and seamless consumer experiences that drive engagement, foster brand loyalty and ultimately increase product sales.
Decoding common metrics
The Joint Industry Committee (JIC) has taken the initiative to standardize advertising’s commonalities by promoting transparency and alignment across audience measurement. Specifically, the JIC aims to provide advertisers with a common currency to understand audience reach, engagement and demographics, thus simplifying the decision-making process—or solving for the same metrics across media channels.
By providing common guidelines for currency measurement, the JIC is facilitating a level playing field where all marketers can evaluate a campaign’s effectiveness using the same yardstick. This move towards standardization not only simplifies decision-making but also bolsters confidence in the data and creates a space for more informed and effective advertising strategies.
The hurdles of programmatic advertising
Programmatic advertising revolutionized the speed at which ads are bought and sold, but it also brought its share of challenges, like ad fraud and unexplained impressions. According to a study by Juniper Research, $84 billion dollars of online ad spend will be lost to ad fraud in 2023. By 2028, this figure is expected to rise to $170 billion.
Marketers who implement advanced fraud detection tools are better equipped to identify fraudulent activity within advertising data collection and prevent it across programmatic channels. Programmatic advertising’s complexity can ultimately be reduced by eliminating fraud and ensuring transparency, without which campaign results are distorted, making it difficult for marketers to measure their impact.
Preemptive actions against fraud
It’s critical for marketers to guarantee their ad data is true and comparable across all channels, especially as it’s being used to make more important business decisions. The Trustworthy Accountability Group (TAG) is at the forefront of these efforts.
According to TAG, marketers participating in their Certified Against Fraud program have seen a 94% reduction in ad fraud. This initiative not only protects advertisers’ budgets but also ensures campaigns are targeted to authentic audiences that will yield true sales lift. Marketers can thereby better understand their consumer base and form genuine relationships with them.
Constructing the ideal infrastructure
Beyond reducing fraud and standardizing methodologies, having the proper infrastructure is essential to share data, collaborate effectively and optimize campaigns. Persistent identities for individuals and households across devices and platforms are the foundation of this infrastructure.
Persistent IDs enable marketers to track consumer behavior reliably, even as consumers switch between devices and channels. According to a report by the Interactive Advertising Bureau, companies implementing persistent identity solutions have seen a 30% increase in advertising effectiveness.
Using persistent IDs also enables data sharing and collaboration among industry players. When companies can access standardized, persistent identities, they can work together to deliver more relevant and cohesive advertising experiences to consumers and in turn measure the impact more efficiently.
Embracing standardization, transparency and collaboration
As marketers navigate the intricacies of modern marketing, embracing standardization, transparency and collaboration will be key to achieving success. By keeping sight of the commonalities across advertising, you can better manage the complexities of the ad industry, ensure your strategies remain customer-focused and create a more effective advertising experience for consumers and marketers alike.
