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INSIDE THE LAB
The white papers from Singapore’s Interactive Advertising Bureau (IAB SG) outline that while digital advertising platforms have become more advanced, methods of analysis have not, an alarming fact given the huge budgets being spent.
In fact, the papers issue a harsh reality check; ‘Too many marketers are failing to use the insights available to them in an era when they are coming under greater scrutiny to justify their spending.’
A further alarming aspect of the white papers highlight how there are many marketers in Southeast Asia who are aware of their poor performance yet seemingly doing nothing about it. In fact, one eConsultancy report found that 54% of in-house marketing teams in Singapore rated their ability to measure ROI from social media as ‘poor’ while only 11% rated themselves as ‘good’.
The solution? Adopt a more holistic approach and move away from cost per ad click measurement. The recommendation from IAB SG echoes the beliefs of research company, Decision Lab, who have an agile, connected and decision focused presence in Southeast Asia.
Decision Lab founder Aske Østergård said:
“In a time where more money than ever before is being spent on digital ads it is imperative that marketers truly understand their ROI. Most successful marketers now are using non-click buying and analysis measures and it makes complete sense that the IAB SG is recommending businesses to move away from click measures.”
In order for marketers to better understand the performance of their digital advertising campaigns the IAB SG released guidelines on measuring performance in each major area of digital advertising in SEA: Content Marketing, Mobile Marketing, Social Media and Digital Video.
In all areas marketers were urged to place greater focus on looking beyond single device metrics such as CTR and Conversions, and instead to consider cross device behavior and how these align with business and marketing objectives.
They also advise that these objectives and strategies should be constantly reviewed to ensure optimal performance, while any reporting dashboards must be able to provide relevant actionable insights.
Aske Østergård added:
“The white papers offer important guidelines for marketers in Southeast Asia at a time when it is badly needed. At Decision Lab we pride ourselves on our agile, connected and decision focused research, and analyze ad campaigns on far more than click measures. To establish a thorough understanding of our clients’ digital campaigns, we help them to measure anything from their in-target group reach, frequency, affinity and TRPs, to whether those exposed to their digital campaign vary in their attitudinal or behavioral response from those who weren’t.”
For the full guidelines from IAB SG click the below links:
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