The advertising landscape is undergoing a significant transformation, driven by the advent of new platforms and technologies. This evolution has given rise to innovative ad formats such as playable, skippable, and short-form video ads, compelling advertisers and agencies to diversify their campaign strategies across various platforms.
The Need for New Engagement Metrics
Analyzing campaign performance across different mediums, such as TikTok, LinkedIn, or Instagram, has underscored the importance of understanding platform-specific content efficacy. Engagement metrics, second only to return on investment, are becoming increasingly vital for advertisers aiming to gauge campaign success amidst tightening budgets.
The Push for Standardization
However, Simon Yost, Founder, points out that traditional metrics like clicks and impressions fall short in capturing the essence of new engagement forms. Yost advocates for the necessity of metric standardization across platforms, highlighting it as beneficial for both advertisers and analytics platforms.
Highlighting the shift towards immersive ad experiences, Yost mentions the rise of gamified ads, which offer a more tangible gauge of consumer intent than traditional impressions. This shift underscores the importance of transparency in understanding user engagement with ad units.
Industry Coalition for Standardization
To address these challenges, Glued Network has spearheaded the development of a new standard for ad engagement measurement. By collaborating with industry leaders across the ecosystem, including platforms, tech vendors, and marketers, Glued Network aims to foster an industry-wide standard that enhances engagement measurement and transparency.
Chen-Lin Lee, TikTok's global head of data and measurement product partnerships, emphasizes the unique interaction dynamics on TikTok, which necessitate a revised approach to ad performance measurement.
The Role of Agencies in Standardization
M&C Saatchi Performance's Chief Data and Analytics Officer, Dane Buchanan, stresses the complexity of standardizing engagement and the benefits of a unified measurement approach.
The proposed measurement framework introduces seven new metrics aimed at capturing a broader spectrum of consumer intent. These metrics, ranging from preload or download to listening, are designed to provide a more nuanced understanding of user engagement.
Conclusion
This push towards standardized metrics and transparency in the advertising industry marks a pivotal moment. By adopting these new standards, the industry can move towards a more ethical, uniform advertising landscape, enabling companies to make informed decisions and drive meaningful engagement.
