- 3rd January 2024 |
- 7 minutes
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Clash of Tradition & Innovation in Media Measurement Strategies in 2024
Unraveling the Dynamics of Consumer Behavior Across Screens
In today’s rapidly evolving media environment, advertisers face the challenge of understanding consumer behavior across diverse screens, particularly amidst the changing dynamics of linear TV viewership.
In the fast-paced world of advertising, 2024 promises a paradigm shift in strategies as the industry grapples with the evolving media landscape. As audiences diversify their screen time, advertisers face the challenge of comprehending consumer behavior across various platforms. Traditional measurement methods fall short, prompting a demand for innovative cross-media solutions that offer precision and practical applicability.
A Holistic Solution for a Fragmented Market
The Viewer experience & meeting audiences where they want to be is paramount in the evolving media landscape.
While other media measurement platforms operate within silos, Beatgrid stands out as an independent, holistic solution that can integrate various data sources. The call for consolidated solutions becomes crucial as the market rejects fragmented measurement approaches.
In a rapidly evolving advertising realm, data-centric strategies will serve as guiding beacons. Nowadays, advertisers navigating the crossroads have finally recognized the imperative for unified, holistic cross-media measurement solutions that transcend fragmented ecosystems. The industry seeks adaptability and innovation to thrive amidst changing media consumption patterns, emphasizing the importance of solutions that harmoniously address measuring diverse audio-visual content.
The Significance of Ad Effectiveness
Brand Lift & Engagement Metrics in Streaming, A Pivotal Discussion.
Brand lift and all the metrics it entails will remain a much-discussed aspect in the streaming industry, as direct-to-consumer businesses rely on consistent customer viewership. The effectiveness and quality of the advertising-supported streaming experience will be crucial in a landscape where customers have numerous options for their entertainment spending. This effectiveness and quality will play a crucial role in the evolving landscape. In a market saturated with choices for CTV and OLV content, the ability to achieve desired outcomes and connect with the target audience hinges on creating customer journeys that are not only relevant (content-wise) but are also contextually enhanced with advertising promoting products and services that resonate with the said audience. Industry experts underscore the significance of crafting engaging and tailored cross-media streaming experiences that resonate with consumers within the platforms they frequent.
Lightning-Speed Evolution: The Transformative Landscape of Media
Blurring Lines: The Meteoric Rise of CTV (AVOD, BVOD, SVOD…).
The media landscape continues to evolve at a lightning-speed pace. The dominance of CTV gave way to the meteoric ascent of all the VODs (AVOD, BVOD, SVOD, PVOD…) in the blink of an eye. The blurring of the lines between linear, digital, and streaming will lead to an active period of creative ways of bundling and re-bundling premium video, as well as new ways to holistically measure all channels with one same methodology, transforming the ad industry.
Persistent Challenges: Measurement & Transparency
However, amidst this evolution, measurement and transparency remain persistent challenges. The industry is still grappling with these issues, and there will be a lot of noise around these topics. The ongoing evolution of consumer behavior introduces a heightened level of complexity, underscoring the imperative for adaptable and innovative solutions that prioritize the consumer experience. This pertains not only to entertainment and leisure but also extends to market research activities. In a landscape where consumers are increasingly tech-savvy and value privacy, advertisers, publishers, and measurement solutions must recognize that meaningful connections between brands and audiences hinge on genuine consumer empathy. On the adtech solutions side of things, it is critical to address consumer concerns comprehensively, prioritizing data transparency and treatment. By addressing these concerns, consumers are more likely to voluntarily opt-in to participate in media research studies. This approach acknowledges the frustration stemming from walled gardens, which limit brands’ access to performance data and hinder precise audience targeting, resulting in the inadvertent bombardment of consumers with irrelevant content.
Looks Like It’s Finally Happening: Google's Intent with Third-Party Cookie Deprecation
Preparing for Post-Cookie Campaign Strategies.
In acknowledging the imminent shift to a cookieless era, even those opposing Chrome’s third-party cookie deprecation plan largely concede that Google is committed to its implementation. This realization prompts the recognition that advertisers must proactively formulate post-cookie campaign strategies within the coming year. The industry narrative is transitioning towards a realm devoid of cookies, signifying a departure from claimed advertising exposure data to a reliance on first-party and zero-party deterministic data. This transformative landscape gives rise to innovative cookieless and pixel-less measurement solutions. Brand advertisers are actively exploring analytic alternatives to justify media investments and enhance audience connections. However, established and emerging cross-media and ad effectiveness measurement players face challenges, as the demise of cookies jeopardizes their ability to visualize and measure consumer journeys, leading to a new trend where poorly targeted customers, navigating the highly fragmented media landscape, are susceptible to receiving irrelevant advertising content
Holistic Unified Measurement
New-Wave Cross-Media Solutions for True Audience & Ad Effectiveness Measurement Precision.
The alternative for measurement lies in cross-media audience and ad effectiveness measurement solutions that use first and zero-party deterministic person-level and single-source data from a passive ACR mobile panel. This kind of solution can overcome the challenges posed by walled gardens, measuring the reach, frequency, incremental reach, and brand lift of any AV + OOH channel at a person’s level.
As the industry navigates these challenges and opportunities, the key lies in staying ahead of the curve. Advertisers and measurement companies must leverage this opportunity wisely. Advertisers, agencies, and publishers will need to start pivoting towards innovative solutions that have adapted to the changing dynamics of consumer behavior and technology. In this era of rapid cross-screen evolution, success will be defined by those who can seamlessly integrate single-source and person-level data-driven insights to harmonize their cross-media strategies, and deliver content in a way that captivates and engages their audiences across diverse platforms.
By Ian Alastair Hobkirk
Digital Marketing Manager
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