The Many | Jul. 21 2023
Our very own Crystal Chou and Brittany Goode attended this year’s Cynopsis Measurement & Data Conference, a cornerstone event of the media and digital industries. Known for its focus on the critical topics in data and measurement, this conference offered valuable insights into the challenges and opportunities in our rapidly changing media landscape.
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Measuring multicultural groups, younger demographics, and various devices and channels presents significant challenges. Achieving accurate measurement while incorporating AI and machine learning into data infrastructures are ongoing concerns. There is a gap in baseline knowledge about measurement practices throughout the industry, and there is a need to measure across platforms and engage audiences effectively.
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Advertisers are seeking partners with strong measurement capabilities including cross-platform measurement, targeting opportunities and access to on-platform advertising KPIs. The industry is grappling with the need for flexibility in a multi-currency world, where advertisers test multiple currencies. There isn’t one partner that can solve for this. The more ways we can work together, the better we can establish synergy, accountability and solutions.
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True cross-media measurement is crucial, as it provides incremental value to media plans and enhances consumer experiences while protecting data. Fragmentation, consistency, and convergence are key issues in cross-media measurement, especially in the context of streaming and measuring multicultural audiences. The establishment of alliances, such as the Independent Streaming Alliance (ISA) and Joint Industry Committee (JIC), aim to address fragmentation and create cohesion in the CTV environment.
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Big data, first-party data and panel data play significant roles in understanding the consumer journey. Each data source has its respective strength and we need to balance usage to optimally reach audiences. Privacy considerations and the development of methodologies for building compliant audiences are essential. Clean rooms have emerged as solution to ensure privacy compliance while aggregating different data sets for management and analysis. Artificial Intelligence (AI) can help solve measurement challenges, but it should be used effectively and in conjunction with human expertise.
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Reaching the right audiences at scale is a top priority in the industry. However, not all reach is created equal and attention metrics should be considered to ensure impactful advertising. Attention is reframed as a more human-centered metric, focusing on whether an ad was truly seen and if it aligns with campaign objectives. Brands should aim to deliver personalized and contextually aligned ad experiences to maximize attention and engage with viewers. Tl;dr attention is not a fad, it’s here to stay.
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Brand is the intangible reason a consumer chooses you over others within the competitive set. While there has been a strong focus on lower-funnel efforts (i.e. performance), this is a highly commoditized space prioritizing functional metrics versus actually building a long-term connection with audiences who will come back. Brand and performance treated as independent tactics creates a false dichotomy. It is crucial to find the right balance between these tactics, creating a holistic approach that ladders into a unified framework. Ultimately, brand is an investment that increases the effectiveness of performance.
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The industry needs cross-screen solutions, transparency, standards and ideation to advance measurement practices. Experimentation is vital, but standardization can sometimes slow down progress. Collaboration and an experimental mindset are necessary for driving change and innovation in the industry. Leveraging existing data, focusing on creativity and considering privacy are key components in moving measurement forward.
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These insights are informative and crucial in shaping our strategies during constant change. We’re excited to implement these learnings and continue delivering innovative and measurable results for our clients. Stay tuned for more insights from Crystal, Brittany, and the rest of our team here at The Many as we continue to navigate and lead in the dynamic world of data and measurement.
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