Marketers and media buyers have often struggled to measure the effectiveness of their digital advertising because of myriad definitions and methodologies, but now IAB Europe has stepped in to provide some clarity.
The industry association has announced the launch of its new Digital Advertising Effectiveness Measurement Framework, which it says will provide “a set of harmonised definitions, measures and metrics” aimed at resolving any “ongoing confusion”.
IAB Europe previously undertook an effectiveness measurement survey, the largest regional study of its kind, which involved senior executives from 14 major companies and specialist agencies providing measurement solutions across EMEA and globally.
Each of the companies surveyed had a diversified portfolio of clients in FMCG, auto, finance, retail, travel and entertainment and media, and the results painted a picture of a “hugely fragmented language in the industry”.
Quite apart from the frustration and inefficiency this provoked, the research established that more than 80% of respondents believed that agreed metrics and KPIs would drive more brand investment in the industry.
Looking specifically at some of the measurement issues, all companies cited access to walled gardens as a top challenge. Meanwhile, other top challenges were clients’ knowledge and understand of measurement agenda and practice (73%), size of panels and panel churn in key markets (73%) and tracking prevention (64%).
“Seventy-three percent of respondents to the IAB Europe effectiveness measurement survey stated that clients’ knowledge and understanding of the measurement agenda and practice is critical,” said Phil Sumner, VP of insights Northern Europe at Teads.
“Along with the IAB Europe Research Committee, I am proud to bring to the market harmonised definitions, measures and metrics within the IAB Europe Effectiveness Framework to educate and inform clients,” he added.
Townsend Feehan, CEO of IAB Europe, also commented on the initiative, saying: “We believe a common ‘lingua franca’ and set of standards, as proposed within our Digital Advertising Effectiveness Measurement Framework, will remove this fragmentation and help accelerate more investment and understanding of digital advertising research.”
Sourced from IAB Europe