I Like MediaMind. I really do. They have been tremendous partners in assisting me in numerous game-breaking marketing executions over the years. The ability to pull off some really cool things in the media space is helped greatly by their drive for trying new things and pushing the boundaries for rich media. That’s why I can only shake my head and wonder why they are wasting time rallying about old-style data points. In this fast-paced age of digital media, why do providers keep going back to the dated modicum of click-throughs that are such old news – especially when there’s so many data points that are so much cooler. As we all try to convey the possibilities of digital media at scale, its time that we invest in the future and not go Old School.
As the leader in digital media serving around the world (especially in light of their acquisitions of large rivals over the past year), MediaMind can steer advertisers toward using metrics that matter – both in providing richer context and clearer benefits in the medium. Instead, it just feels that they are hinging on the same-old, same-old. Their recent study examined 24,000 ad creatives serving over 12 billion impressions to compare effectiveness of rich media versus standard banners in driving site traffic. The take-away was roughly the fact that users who interacted with rich media ads incorporating video were almost 6x as likely to visit the advertiser’s website than those who saw standard banners.
The entire basis of comparison is out of whack to begin with. Obviously, those who interact with rich media banners are paying attention and you can count those as a true impression (for the most part). But standard units are ignored or not even seen for most of the time. Why would you even want to compare them unless your numbers were even more exponentially higher?
Additionally, with rich media, there is so much more that matters like dwell time and even the opportunity to track type of engagement and purchase completions. I would have rather seen a straight comparison between types of rich media engagement rather than between what can technically be considered oranges (rich) and apples (standard) – and in some circles, juicy oranges and rotting apples…
Perhaps its the scale and the feeling that people are impressed by larger aggregate numbers that a CTR stat can bring you. Perhaps it is because not enough advertisers are sharing sales completion stats with MediaMind for their study. I believe we are slowly (OK, extremely slowly) moving toward planners warming to more meaningful numbers on a smaller scale than useless numbers on the large-scale. If anyone is in a place to lead the charge to more meaningful data, MediaMind (DG) would be it.
GM, Gal Trifon is quoted saying, “By investing in more engaging experiences powered by rich media and video, advertisers increase the chance that consumers will spend valuable time with their brand.” This would have sounded pretty great a few years ago, but it’s not where the planners’ or advertisers’ heads are today. They want to know how it will enhance conversion to sales or clear ROI. Unfortunately, digital media was pitched for so long as being able to provide exact conversion data – which traditional media has not absolutely been able to do. Because of that, those details have been waited for and they aren’t readily available. How much longer will we be able to rely on the esoteric or the warm-fuzzy figures of dwell and engagement?
As I said at the beginning, I really like MediaMind. I’ll just like them more when they are able to provide that real data that advertisers are looking for – even if they themselves don’t know what that is. They should take advantage of their innovative spirit, size and market share to force that shift by providing that data that matters. They can do so much more to lead the industry into the future rather than keeping it relatively anchored to a couple of years ago.