• by Wayne Friedman , February 28, 2011

In another call to consolidate a wide variety of disparate and often confusing digital media metrics, three big industry advertising groups are looking to develop digital metric standards.

Sensing that the lack of standards and a digital currency is hurting business growth, the Interactive Advertising Bureau, the Association of National Advertisers, and the American Association of Advertising Agencies have banded together to "simplify the planning, buying and evaluating of digital media."

The plan was announced during the IAB's annual leadership meeting in Palm Springs, Calif.

These efforts include: defining a common currency for measuring online exposures; developing generally accepted standards for brand impact measurement online; creating a methodology for cross-media measurement; creating a structure for an ongoing measurement governing body; establishing standards-setting process; and developing a plan for the rollout of metrics, standards and management structure.

Bob Liodice, president and CEO of ANA, stated: "Online media has an abundance of metrics, but none that serve as currency across the ecosystem. This process will allow the industry to use consistent measurements to evaluate a program's return."

Nancy Hill, president/CEO of The 4As, said: "The confusion in this area has added costs to advertising agencies, which have been forced to use, subsidize and staff around increasing numbers of metrics and data in order to plan, purchase and post-analyze their media buys. This initiative will streamline and simplify those processes."

Sherrill Mane, senior vice president of industry services for the IAB, said the "Making Measurement Make Sense" effort "gives the industry the opportunity to understand how to follow and connect with consumers targeted by these campaigns, and how to measure both within digital and across media platforms."

The IAB said the metrics push intended to expand and accelerate the work done by the IAB and the Media Rating Council.