Measuring online advertising: Easier than agencies think
A recent AdWeek article citing a McKinsey & Co. online advertising report stated, “52 percent [of marketers cite] ‘insufficient metrics to measure impact’ [as] the biggest barrier” to buying more advertising online. When I read this, I did a double take and checked the date of the report for sanity, but sure enough the report came out last week and not in the late 1990′s. Are marketers and ad agencies really that far behind the times?
Online analysis is leaps and bounds beyond anything you can get in any other advertising medium. The glaring problem is not a lack of measurement, but a lack of understanding about the types of measurement that can be performed online. Technology typically out-paces business, but I’m surprised in the multi-billion ad industry, that it isn’t closer.
It may be as simple as a lack of planning. Often times agencies, in an attempt to get their campaign to market as quickly as possible, overlook simple measurement techniques that would save them time and money when it comes to measuring campaign effectiveness. With a reported $2.5 billion being spent in online advertising last year, there seems to be a ripe opportunity for companies that can help ad agencies track their campaigns. Anyone interested?
UPDATE: Scott Karp always seems to say things better than me
