World War D: The Never Ending Quest for Data from #D2Cincy
Sep 11 2013
At the D2 Cincinnati conference today, I learned about World War D: The Never Ending Quest for Data. Panelists include Lung Huang from DunnhumbyUSA, Aaron Fetters from Kellogg’s, Heidi Browning from Pandora, Josh Chasin from comScore and Danielle Seth from Comcast. Highlights from the panel are below. The bottom line is that there is now more data available than ever before – the challenge is to do something meaningful with it. Lung moderated the panel, and here are the best insights from the panelists…..
With so much data available, it can be difficult to reign it in.
Trying to find the metrics that relate to someone buying a box of cereal can be a challenge.
Focus on the metrics that matter, not just everything.
Go deep on the metrics and figure out WHY versus just accepting it
For example if 46% of ads are not seen, how do we dig into which sites work best and why and use the data to analyze and improve
What metrics matter? Viewability; Using Multiple Metrics, Behavior and Audience Delivery
We can’t look at any one metric. Market Mix Modeling tells us what happened but it isn’t good at telling us what will happen.
Am I building a sufficient amount of unique reach.
Is it the right audience, are they big enough and do I have the right frequency.
Our rewards program helps us to better understand our consumers – plus the consumers benefit from the rewards. This gives brands the opportunity to make choices based on their own data.
How can we use the data to deliver targeted and measurable data for our advertisers
We also look at how we can use the data to inform bands – where they should tour based on where their audience is.
Pandora only has one page – the player page, so they can really understand their advertising engagements and they only sell ads on the page when someone is actually actively engaging on the page.
We know that the more time a consumer spends engaged with our brand the more likely they are to buy from us, and Pandora can drive high active brand engagements
We are focused on data to work with advertisers to address targetability, interactivity and accountability.
Data helps us to create more relevant and effective advertising units for advertisers and viewers.
We are currently working to better understand the target frequency across channels.
Comscore put out a study that says that over 46% of online ads are not viewed
There was an initiative called Making Measurement Make Sense that the industry created to better understand the measurement challenges
The currency in digital ads needs to move from a displayed ad to a viewed ad. The thinking is that people will spend more money if they knew what they were buying.
The IAB has a working definition of viewability of banner ads – and most ads aren’t viewed because many ads are below the fold
Traditionally we measured media by creating panels that were supposed to be representative. This becomes complicated across multiple devices.
Where I think measurement has to go is from single source to big data. We need to figure out how to assemble audience data from various sources.
What innovation are you most looking forward to?
The spirit of measurement and viewable impressions and extending this to the mobile universe (Pandora)
Taking what we learned from digital marketing and expand that into the mobile and television environments (Kellogg’s)
Creating scalable and addressable products with a data management platform that cuts across mediums (Comcast)