|If The Economy Goes Back South, What Happens To Metrics?
by Bill Wise , Tuesday, August 23, 2011
No one knows for certain if we’re headed for a double-dip recession. But if we are in for more rough times, what might that mean for media metrics? A few thoughts below.
Accountable advertising wins. When budgets get tight, purse strings get tighter — and everyone makes more demands on advertising accountability. And so a thin silver lining of a soft economy is that it forces marketing organizations to push their analytics practices forward,
which ultimately leads to more intelligent marketing. It’s also a nice upside for online marketers and direct marketers, the two marketing segments perceived to be the most accountable, which tend to fare well when the economy goes south and the demand for precise metrics goes up.
Engagement metrics lose. Savvy marketers know that a whole universe of engagement, across many different touchpoints, leads up to a purchase. Which means there’s a whole lot to measure — from the direct point of sale, to the brand impact of an outdoor ad. Unfortunately, a lot of C-levels outside of the marketing suite don’t understand the complexity of the media mix. And of lot of those same C-levels are the ones called in to scrutinize marketing budgets during lean times. They’ll look for immediate correlations between sales and marketing, which means a lot more pressure to look at direct attributions at the expense of more subtle metrics, like the view- through. (My suggestion? If you’re a CMO reading this, reach out to your CFO as soon as possible to educate him or her on analytics best practices — so you can keep control of the course of your marketing measurement.)
Engagement metrics win. Kellogg School of Management professor Andrew Razeghi argues that in bad times, it’s critical to deepen existing customer ties. “Use this time to get closer to your customers…and show them what’s possible,” Razeghi explains: holding on to customers through the downturn means holding on to your best source of revenue to hold you over, and emerging with a strong customer base once regular consumer spending returns. On the advertising front, that could translate into heavy engagement efforts (especially engagement driven by retargeting), coupled with strict accountability standards for engagement activity. And so a lot of smart companies would be likely to increase engagement efforts — while looking to think smarter about how to make that engagement more accountable — if the economy goes sour.
Stronger TV metrics. Through all the ups and downs of recent years, TV seems to be the one medium that just won’t go away. That shouldn’t come as a surprise: at the end of the day, TV is where the viewers are. But, again, all efforts are held to great scrutiny when times are rough. And so if times are lean, expect a flurry of attention aimed at on next-generation TV technologies that make TV more accountable — like TRA, which marries TV viewership with purchase activity; or Canoe Ventures, which enables direct marketing interactions through TV the screen. We can also expect more pressure on the popular metrics providers to push ahead on the next phase of TV metrics (like more precise numbers on time-shifted viewing) as TV spending is coupled with a demand for more accountability.
Social media influence. Just as advertisers want to be on TV, even in bad times — because that’s where the eyeballs are — a lot of advertisers want to stay on social media, regardless of the economy, because that’s where the digital eyeballs are. Not to mention that social channels are built for viral marketing, making them particularly attractive when everyone is looking to stretch their dollars further. The upshot is that advertisers are likely to spend a lot of energy on social media — on both paid and earned media. I see particular promise in metrics that measure the ripple effects of influence (like Crowdtap‘s brand influence ) — which help advertisers find exactly where to get the best bang for their buck.
What am I missing? Unfortunately, we have a lot of collective experience with the impacts of a soft economy on the metrics business. What metrics changes did you see taking place in ’08? How do you think the fallout will be different if we fall back into bad times? Post below, and/or tweet your comments to me — I’m @billwise.
This week I am interviewing International Goodwill Ambassador Oscar J. Webb who has recently returned from The Africa Heritage Society Headquarters in Johannesburg. He has brought back a message to President Obama and a plan to create jobs in America and in Africa.
International Goodwill Ambassador Oscar J. Webb announced in partnership with Founders Mutumwa Mawere and Executive Director Phineas Tichana, of The Africa Heritage Society on Nelson Mandela‘s Birthday; The CIVIL RIGHTS TO PLATINUM RIGHTS MOVEMENT and 2011 SONGS FOR AFRICA, a Global Concert Tour. We have also launched the following initiatives that we seek the support of all people of African Descent including President Barack Obama, UN Ambassador Susan Rice, International Trade Representative Ron Kirk as well as the heads of the Fortune 500 starting with Warren Buffett, Bill Gates, Steve Jobs, Mark Zuckerberg, Eric Schmidt and all those who are stake holders in the success of turning around the Global Economy. Since the adopt of UN Resolution 64/169 we have started the following initiatives and invite your participation. This International Public Policy Statement by The United Nations Resolution is crystal clear and now It’s Heritage Time.
Here is a brief list of our initiatives.
- The Black College Fusion Television Network to link colleges and universities around the world to further the study of Economic Development and Transmedia Revenue Share Communities.
- The Africa Home Shopping Network
- Banking on Africa Website
- My Afriface.com ‘Africa’s Facebook’
- Infrastructure Development to create jobs in Every Sector. See AHS Development Chart below.
- IRH Consortium of African and African-American Businesses covering every Business Sector.
- The Africa Heritage Society’s Former Heads of State Initiative.
- AHS has partnered with WCN and its Charmian & CEO Jay O’Conner World Colours Network televisionn is Co-launching the first 24 hour Interactive Product Placement Television Network which allows viewers to instantly purchase anything seen on-screen with a Transmedia Brandcasting Revenue Share opportunity which will please both Main Street and Wall Street.
- AHS & WCN has partnered with Africa Job Station to create The AHS Job Station Portal USA.
We have also partnered with Africa Job Station which has over 7000 Jobs that will be highlighted on WCN’s Transmedia Blog each week. We invite the Fortune 1000 and individuals to seek and find opportunities for employment and entrepreneurial pursuits. It’s Heritage Time!!!
For long-term sustained growth a jobs strategy is good for Africa but equally as good for People of African Descent who have received their education and can now make a strong contribution to their Motherland. Poor Africa is the Richest Place on Earth and the Heritage of Africans born in America. And now that we have been educated to the facts. It’s Heritage Time.
Just a brief note about what an honor it is to serve and to position the Nation for the greatest comeback story in History. Largely African-Americans have overcome many adversities and as people have shown their resilience. Remember that feeling we had when Barack and Michele took the reins at the White House built by Slaves. Now with the United Nations Resolution backing up our contributions isn’t it time for a Global Celebration. We must choose and now to stand behind the choice we made in electing President Obama and trust that his Cool and Steady hand at the wheel of this country is what we need. We Pray and support the long-term solutions that his administration is now putting in place that we won’t feel as a nation until after his second term as President. Those of us who are old enough to have lived through several Presidents understand that it takes more than two to four years for the impact of the Presidency to be felt. So even as the Presidents Opponents are bashing the hell of how things are now. We are living under the decisions made by previous Administrations. Remember the Democrats left a Surplus under President Clinton, that suddenly disappeared through the Bush Administrations Debt Ceiling raises.
President Obama we need your support and the full power of the Presidency to under gird The Civil Rights to Platinum Rights Movement for All Americans. Young African-Americans are disconnected in large part from Africa, Slavery and past struggles. Jobs are critical yes but enlarging the wealthy class through Entrepreneurship and mentorship will increase the Middle and Wealthy Classes.
Those with money the Super Rich will do their share but cannot just give away money. So systems, movements created by Dr. Martin Luther King Jr. serves as an example to help us restore basic rights but never before included Economic Rights. While there is little anyone can do about natural disasters, we can certainly avoid man-made ones. I lost my 100 dollar Sales job 15 years ago from a small minority owned firm in Augusta Georgia and largely because we could not get at the time work from the government or the private sector. The playing field has leveled with Social and Digital Media. And especially Transmedia Brandcasting which will revolutionize the advertising business, save as much as 50 Billion in Online Piracy of film, entertainment and software.
We can make jobs for ourselves. With 1.1 Trillion in spending power and a Continent Rich with many of the resources traded daily around the world should surely be given the opportunity to be create strategic alliances to increase the walls between the Super Rich, The Rich, The Middle Class and the Poor. The mission statement for WCN is To Bridge the Gap Change Mindset and Transform Cultures through Love Acceptance and Global Diversity. Right now and never more than before as we unveil the Monument to Dr. Martin Luther King Jr. Lets Love One Another, Understand that Acceptance means a living wage so families can thrive and Global Diversity is the fabric of how to make it happen.
Yes we are tired and the world seems like its ready to explode at any minute but Mr. President we have confidence in our Prayers for you and your family and are hoping that you have the fortitude to make bold decisions that will turn around the Global Economy.
I know that you have a team of supporters and a team that no matter what you do its going to be wrong. I pray during this time of vacation that you get the rest and enjoy the time off. I really appreciate Ben Rhoades Your Deputy National Security Communications and Speechwriting answering my CNN Question About The Administrations position on UN Resolution 64/169. We present it as the greatest opportunity to create jobs and therefore bring our solutions for your consideration.
This week we will follow-up last weeks video of Dambisa Moyo, author “Dead Aid: Why Aid is Not Working and How There is a Better Way For Africa.” (June 10, 2009). and as promised this weeks jobs in Africa sponsored by Africa Job Station. Dambisa a voice for change in Africa is 100% Correct there has never been a Continent that has been saved by Aid alone. Especially The Richest Continent in the World. It is HERITAGE TIME.
Futhi Mtoba – Chairman of Deloitte South Africa – Part 1
Hey Check out Gravatar. I had a profile and forgot until a connection reached out and boom there it was. Thought I would share in case you were looking for an opportunity to learn about Transmedia Brandcasting and Transmedia Revenue Share Communities.
Advocate for Social Transmedia Brandcasting
Determining that Transmedia represents the focal point of the multicultural revolution Jay O’Conner created the mission to “Bridge the Gap Change Mindsets and Transform Cultures through Love Acceptance & Diversity” television programming.
He has gathered an incredible team of professionals who have helped him mold that vision into a premier world class television network and communications company reaching into Motion Pictures, Publishing, Radio and Television. World Colours Network is OUR Network is our premier campaign providing ownership to our investors, employees, and audiences around the world.
First I want to thank Ben Rhodes, Deputy National Security Advisor for Strategic Communications and Speechwriting for answering my question to President Obama. While the broad-based support for Africa and America sounds good.
The question was specifically addressed to cover UN Resolution 64/169 proclaiming 2011 as THE INTERNATIONAL YEAR FOR PEOPLE OF AFRICAN DESCENT.
This International Public Policy statement itself deserves a direct response as Black Unemployment is double the national average at 15.9 Percent and the impediments to investment remain. Access to Capital through Loan Guarantees and yes Stimulus for Multi-National Companies like Berkshire Hathaway, Microsoft, Google, Facebook and Apple as examples to obtain such guarantees for mentoring small minority owned businesses looking to expand and create jobs.
Thanks for your response and now hopefully a clear path to a Transmedia Brandcasting Summit which would bring the powers that be to the table to support The Africa Heritage Society’s CIVIL RIGHTS TO PLATINUM RIGHTS MOVEMENT launched on Nelson Mandela‘s Birthday by International Goodwill Ambassador Oscar J. Webb.
Finally as we unveil the Dr. Martin Luther King Jr. Memorial leaders like Ambassador Webb should be standing next to the President as he announces support for THE CIVIL RIGHTS TO PLATINUM RIGHTS MOVEMENT and the reconnection of African-Americans to their Heritage. Economically, Socially and Culturally.
iReport welcomes a lively discussion,
Original Question & White House Response
Follow Up Question.