By Joline McGoldrick
SVP - Marketing and Strategy, Digital and Media Practice
Kantar Millward Brown
Nearly 20 years ago, more than 76 million people tuned in to watch the Seinfeld finale, the iconic American “show about nothing,” dubbed “must see TV” by NBC. Today, an advertiser would be lucky to find a TV show with 10% of that audience. Sure, a few live events like the Super Bowl still attract large audiences, but even these are fragmenting across channels and devices.
With consumers having more media options than ever before, brands also have myriad opportunities to engage with consumers and create meaningful engagements across channels and devices. And while marketers are eagerly seizing these opportunities, our recent Getting Media Right study reported that 81 percent of marketers struggle to assess how well their brands perform across platforms and devices. Importantly, though, more than half of advertisers indicated they’d increase their media spend if ROI measurement improves.
Practically speaking, we’re all in this together: brands, agencies and media companies all play a role in creating and delivering content and experiences that engage people and drive effectiveness. Overall, marketers need to:
Get equipped: Build a network of trusted sources, including both people and technology, to support confident decisions.
Get synched: Integrate and align channels, strategies and messages.
Get optimized: Act on data in relative real time to maximize impact, and do so early and throughout the marketing lifecycle.
Get validated: Measure ROI of all channels and prove results both accurately and consistently.
Brands, evaluate your data sources, research tools, and partners to ensure they align and support your goals and objectives. Challenge agency and media partners to provide credible, actionable intelligence.
Media agencies, your clients want and need your support. Recognize that they face pressure around having a holistic cross-channel view of each campaign. Engage with your best options for optimization, always looking for ways to use insights to achieve objectives.
Media companies, prove your value, prove your value, prove your value. Provide a robust platform that helps marketers understand campaign success.
Media innovation has definitely created challenges, but it is also an exciting and massive opportunity for marketers to connect in new and engaging ways. With the right partners, alignment and tools, marketers can get media right—and that’s truly something.