What does 2022 hold for those looking to improve their measurement capabilities? That is the million-dollar question. So, we got experts at Lucid to weigh in, asking them to explore the challenges they think marketers will face when it comes to measuring the impact of their ad spend and how they think the industry will evolve to meet the needs of marketers. Read their opinions below.
TV and video viewership will grow more fragmented, but new data sources will help standardize measurement.
Stephanie Gall, Head of CTV and TV Products
A growing number of factors—time, location, device, screen size—are making TV viewership more fragmented. The time users spend on CTV devices has almost doubled year-over-year since 2019 and ad-supported video-on-demand services (AVOD) are also up with more than 125 million viewers in 2021. However, streaming TV still only accounts for roughly 26% of all time spent watching TV—and leaving linear out is not an option if holistic measurement is the ultimate goal.
This makes it harder than ever to create a good user experience and execute accurate cross-screen measurement. But, with so much technology available at our fingertips, there’s no longer an excuse for using incomplete or inaccurate data. Marketers will start to think outside the box when it comes to data sources, tapping into unexpected data sets to confidently connect an ad exposure to an individual. For example, real-time surveys of self-reported TV viewing habits can be combined with device-level exposure data. Using the right partners to couple holistic measurement with comprehensive identity resolution can help marketers understand campaign performance.
Campaign optimization will be a continuous and iterative process.
Laura Manning, Sr. Director of Strategic Partnerships
Consumer sentiment is changing at a faster rate than ever before, and marketers must take notice of how this can impact their brand’s reputation and messaging. As advertising campaign measurement becomes more sophisticated, it will be incorporated throughout the full customer journey—not just as something that happens at a point in time or as data featured in a wrap-up report when the campaign ends. Brands should treat every campaign as a living experiment. This means using the real-time data to iterate, making inflight decisions to help hit desired outcomes. Tapping into measurement data throughout the campaign is where advertising can become really scientific, and that’s a good thing.
Although it can be difficult for marketers to stay on top of what’s happening while a campaign is running, those who don’t leverage real-time data to analyze performance and adjust campaigns in-flight may lose ground to those who are actively iterating on actionable data. Running advertising campaigns for months, quarters, or even years without analyzing what’s working (or not) needs to become a practice of the past.
Advertisers will focus on incremental lift, and data quality will become a priority as a result.
Lindsay Fordham, VP of Product
When it comes to planning and measuring media buys, brands will renew their focus on incrementality in 2022. There’s a lot of baseline awareness and consideration for a brand that exists after decades of advertising, so brands have to be evaluating success based on the actual incremental impact that their media is having.
Of course, data quality is important in order to provide a relevant evaluation. But a lot of marketers fail to measure the quality of that data before they put it into activation. If they do not verify the accuracy of the data being used or continuously measure how it’s performing within the context of a given campaign, brands may not get the right results even if all other elements of the campaign are spot on.
New partnerships between walled gardens and third parties will make campaign review more cohesive.
Rosie Bolam, Business Development Manager, EMEA
Well-known walled garden ecosystems (like Facebook, Google, and Amazon) will be eager to develop more partnerships with other companies, which will result in campaign review and analysis becoming more succinct and cohesive. There have been more cross platform campaigns running because marketers know that diversifying your brand campaign hits more audiences and doesn’t discriminate.
Walled gardens will want to be included in cross-platform campaign measurement studies—and, as growth-pursuing companies, they will start to see that there is a ceiling to how much they can grow functioning only on their own platforms.