• by Gavin O'Malley  @mp_gavin, November 2, 2010

While it may seem obvious, marketers had better understand the metrics that ad networks are using to measure campaign success -- both short-term and long-term -- according to Anne Hunter, Vice President of Advertising Effectiveness Products at comScore.

"If the network thinks that clicks are the goal (but they're not), it's going to miss the ultimate objective," Hunter explained during an afternoon keynote at the OMMA Ad Nets conference on Tuesday.

That doesn't mean that ad networks are not capable of measuring success in other ways; they're often just not often using data properly, according to Hunter. "The network needs to know what the actual end goal is," she said, adding: "We don't think that is happening based on our research."

One particularly difficult area for marketers is audience targeting, according to Hunter. Citing criticism from media buyers, she said there is a big gap between awareness metrics and favorability metrics, and the problem comes down to frequency. Simply put, awareness isn't measuring up because ad networks are either far over- or under-delivering impressions.

Another question raised on Tuesday was why agencies shouldn't just be allowed to buy data by itself. The answer? Because they most likely lack the know how to make proper use of the data, said Forrester Senior Analyst Joanna O'Connell, citing earlier comments from Paul Knegten, head of marketing at online ad tech company Dapper.

Knegten, interpreting comments from other panelists, said most marketers wish there was some giant machine that would let them test various online marketing strategies -- from social to contextual to search -- and then report back to clients with the answer for the right strategy for them.

Alas, according to Knegten, everyone acknowledges that media buyers just "aren't ready" for a such a machine -- if it could be created at all.

Going forward, what do ad networks need to succeed amid intense competition, and what some see as industry consolidation? "Good technology," and "exclusive relationships," said Brendan Moorcroft, CEO of Cadreon, an ad network launched by IPG's Mediabrands in mid-2009.

"If an ad network doesn't have a unique set of [assets]," they're not going to be around much longer, Moorcroft said during an another panel at OMMA Ad Nets on Tuesday. "The space is growing," he added, "but simply filling orders" is not going to cut it.