Managing Director of The Trade Desk India says it’s time to break away from traditional measures.
The two years of the pandemic have made us reassess many things. One of the biggest changes I’ve seen is how our clients have become much more deliberate with every advertising dollar. In this big reassessment, marketers are being scrutinized more than ever to prove the ROI of their business.
Metrics such as viewability, clicks, and completed videos, which were traditionally used to measure the effectiveness of advertising campaigns, are no longer adequate. A growing number of marketers are recognizing the importance of measuring their media investments with concrete, real business results. This shift in perspective comes at a time when third-party cookies are on the way out.
As marketers rapidly ramp up their digital ad spend, they’ve also started looking for alternatives beyond so-called “walled gardens.” In Walled Gardens, advertisers have little say in the content they support. Additionally, they receive very little feedback on the performance of their ads. Naturally, marketers are looking for alternatives that offer greater transparency and control.
Thus, brands are turning to the open internet, where Indian consumers spend up to 70% of their media consumption time. As consumers embrace a wide range of digital channels, including the massive shift to OTT streaming, marketers are exploring opportunities to grab eyeballs on the burgeoning open internet.
In addition to reaching and engaging audiences on these rapidly growing channels, brand marketers want to be able to measure and compare ad performance across all of these channels. They want to do this with objectivity and precision, have the flexibility to tweak campaigns mid-stream, as well as manage ad frequency across all channels and devices. For this, they will need a common identifier that works across all advertising channels, including mobile, audio, browsers, apps, and OTT/TV devices.
Platform-independent universal identifiers such as the open source Unified Identifier 2.0 have set the stage for such cross-channel measurement. Unlike third-party cookies that primarily run on the Chrome browser, Unified ID 2.0 is a new approach to identity that reflects the contemporary digital marketplace, addressing advertisers’ need to optimize campaigns and control ad frequency across multiple channels. digital. It also gives marketers a common currency for digital advertising, while enabling greater transparency and control for consumers over their own data.
suggest that nearly 78% of digital marketers in India measure digital ROI well before the end of the sales cycle. Only 3% measure ROI over a period of six months or longer. This indicates that most marketers probably don’t measure ROI at all. Instead, they just measure KPIs like clicks and views, which aren’t really a yardstick for business results. If marketers want to measure the success of their ad campaigns in a meaningful way, they need to ask themselves how their ad spend contributed to business growth.
Today, marketers are one step closer to the holy grail of marketing – the ability to connect ad spend to real business outcomes such as buyer data. By leveraging data from major retailers and other key data providers, which covers metrics such as car dealership visits, ticket sales, and more, Indian marketers can link their campaign performance to very specific consumer actions.
Marketers in industries such as entertainment, real estate, automotive, FMCG, fashion, and retail, for example, can use the Lifesight platform on The Trade Desk to measure footfall in-store as a result of their digital campaigns. For brands in the travel and hospitality industries, this solution helps measure the true impact of leisure packages.
The popularity of streaming content in India has made CTV one of the fastest growing advertising channels. CTV is expected to reach over 40 million Indian households by 2025, as reported. Importantly, CTV allows marketers to combine premium advertising experiences with the hallmark benefits of programmatic advertising, such as reach and measurement.
With CTV, advertisers can not only achieve additional reach beyond their linear TV ad buys, but also retarget consumers in a high-quality viewing environment and measure the full impact of their ads in real time. Additionally, they can map the performance of CTV campaigns against other channels and compare advertising opportunities across channels.
It’s important to note that while much of the mainstream television audience has shifted to streaming platforms, ad spending has yet to fully catch up. We have only scratched the surface of television transformation and what it means for advertisers in India.
In this decade, we will see digital innovation at an unprecedented rate. From a marketing and advertising point of view, we will have the tools and the means to do many things that were not possible before. We can create, identify and capitalize on new opportunities to maximize return on investment if only we invest in new ways of thinking about it.