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NYCU: Decline in Market Research Spending

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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What Lift & ROI Measurement Products Exist Today?

  • ARF Cross-Platform Measurement Council

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.

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Marketing Measurement in the Pandemic Era–Navigating to Success (Event Summary)

  • INSIGHTS STUDIO

At 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.

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  • Article

NYCU: Why RCT will Make Advertising More Effective

RCT21 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.

  • Named “RCT21”, this is a proof-of-concept project to show feasibility and establish best practices for measuring large-scale advertising campaigns spanning across both linear television and digital media. RCT21 will conduct a series of studies overseen by industry and academic experts. Studies begin now, data are expected by the end of Q1 2021.
  • The need for this project stems from the fact that ROI attribution models infer causation from correlations, but do not actually provide causal evidence. Furthermore, most advertisers, according to surveys, see shortcomings in ROI measurement through attribution models and are looking for improved measures of their marketing efforts and better guidance for where their ad spending should go.
  • RCT21 is not meant to replace modeling. Rather, it is based on the premise that attribution studies are useful to generate hypotheses, but that those hypotheses can be tested with a scientific method that establishes causality and, therefore, can identify incremental sales caused by advertising on a specific platform with certainty. In addition, random control trials can be used to optimize the algorithms used in attribution so that findings from modeling more closely approximate causal evidence.
The ARF believes this is the perfect time for this project: On the one hand, as we reported a couple of weeks ago, new legislation is creating “a world without cookies” that makes attribution more difficult. The opposite is true for RCT: Random experiments have been impractical for television because of control group contamination. Now that addressability is in nearly half of US homes and growing, RTC research within those homes is becoming more and more representative. Source: Handle, W. (2020, July 23). RCT21: Advancing Cross-Platform ROI Analysis. Insights Studio Series: The ARF. 

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  • Article

NYCU: Mixing Video Formats Works better

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    

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  • Article

NYCU: Hollywood Returns

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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