The Interactive Advertising Bureau will release a new definition for advertising engagement on Monday, as well as a list of core metrics around digital and legacy ads across platforms.
The move aims to clarify the meaning of "core" metrics to help marketers understand and measure interactive engagement. It creates a foundation as part of the Marketing Measurement Make Sense (3MS) initiative spearheaded by the ANA, 4As and IAB. The report, The Advertising Engagement Spectrum: Defining and Measuring Digital Ad Engagement in a Cross-Platform World, builds on concepts around engagement.
The working groups know that the advertising industry cannot possibly verify interactive metrics and return on investment without a common standard. "Engagement has been a particularly gnarly topic throughout the advertising industry probably for the past decade," Sherrill Mane, SVP of research, analytics, and measurement at the IAB, told Media Daily News. "Without understanding engagement you cannot understand metrics of interactivity in the context of building brands."
Mane knew everyone wanted a clear understanding of how digital advertising works, but she had little idea of the quantity of metrics people actually wade through and try to use daily.
The initiative defines the most important interactive elements and social media metrics required to build a brand and create a benchmark for performance. It also identifies 30 core interactive metrics, complete with broad definitions that were once on a list of thousands companies use.
The white paper outlines the 30 core metrics marketers should use as common definitions. The next step required the MRC to call together the working groups, which will standardize a list based on the ones most commonly used.
Ad viewability, standard GRP to work across digital and other media, like out-of-home, ad classification and taxonomy describing what ads do, and identifying the metrics behind engagement are all part of the move to make advertising more accountable.
The paper concludes digital advertising may not own engagement, but rather provide opportunities to build brands through engagement--cognitive, emotional and behavior.