NYCU: In Brief: The Changing Advertising Landscape

Many companies believe data gathering from social media and other online sources is an easily available and cheaper shortcut. This year, with COVID-19 hurting the economy, the decline in market research services is expected to accelerate.
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Relevant key performance indicators (KPIs) have become increasingly important over the last decade for evaluating the impact of marketing and media spending. Today, numerous companies offer products that measure “ROI” and “lift,” But, for many, it is difficult to differentiate them. This prompted the Online-Offline Metrics Working Group of the ARF’s Cross-Platform Measurement Council to create: The Guide to Lift and ROI Measurement Products. This comprehensive report highlights the product offerings of 27 companies in the space.
Member Only AccessAt this ARF Insights Studio, OptiMine provided attendees with real-world findings and success stories from large brands. Matt Voda, CEO, and Dr. Robert Cooley, Ph.D., CTO & Chief Data Scientist, detailed how they’ve navigated rapid budget adjustments, huge channel shifts, optimal timing of spend changes and outlined how to remain invested in marketing during budget pressure. Insights on key pitfalls to avoid, techniques to exploit and how to adapt during what is likely to be a very bumpy “recovery” were also shared. Note: The full summary is available to members only.
Member Only AccessRCT21 is a new ARF project that will use randomized controlled trials to improve research on the effectiveness of cross-platform campaigns. Last week, the ARF, in collaboration with 605, Central Control and Bill Harvey Consulting, introduced a new research initiative designed to demonstrate how rigorous randomized experiments – specifically: randomized controlled trials (RCT) – will advance the scientific practice of advertising in the 21st Century.
New research finds that exposure to variations in ad formats is likely to produce better results than repeated exposure to the same format.
This new study conducted by IPG Mediabrands Magna and IPG Media Lab units with Twitter is a controlled experiment. Respondents saw three exposures each (1) for a single standalone video ad format, (2) a combination of two ad formats and (3) a combination of three ad formats. In each case multiple formats spread across multiple views generated the best results. The research used a combination of conventional ad effectiveness research (ad recall surveys) and eye-tracking.
“For a long time, many brands thought it made sense to put a majority of their budget into an ad format that worked for them, but our study’s findings are a major differentiator because it indicates that a mix works better at driving awareness, purchase intent and brand favorability,” Magna SVP-Intelligence Solutions Kara Manatt notes, concluding, “Creating this sort of variation in ad experiences doesn’t necessarily require creating a whole host of new assets. In our study, the same exact ad led to better results when presented differently.”
Source: Mandese, J. (2020, July 9) IPG Units Find Video Ad Format Mixes Work Best in The Media Mix. Media Daily News: Media Post
Because of COVID-19, movie/video production has been severely limited. Hollywood is now opening, but the “new normal” is likely to mean higher costs. Despite rising COVID-19 cases, Los Angeles County is moving into stage three of its reopening plan. That means today, Hollywood studios can resume production on TV shows and movies. Actors might need to hit up Hermione and Ron for guidance on green-screen acting, because more sex and fight scenes will be filmed using CGI. There’ll be fewer close-contact scenes in general, too. Fewer days and shorter hours could become the norm. The switch could stress studios’ budgets and viewers’ patience between Fast and Furious installments. Live studio audiences are discouraged for now, meaning more laugh tracks and fewer chances to see SNL live. All these changes + COVID-19 PPE + higher insurance premiums = more expensive budgets, according to Tyler Perry and other execs Variety spoke to. Source: Morning Brew (2020, June 12). Annnnnd...Action! Morning Brew.
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