How can a measurement tool enlarge your pie in advertising spends?

While the overall Return on Investment (ROI) on multichannel marketing is often analyzed on the basis of demand and sale of the product/service. But much before ROI, Measurement comes as an essential methodology that navigates brands in selecting the accurate and relevant marketing channel to target the desired audience.?

And over years, the significance of Measurement has been highly evident in the advertising industry. The advertising medium that demonstrates the higher measurement potential along with varied parameters, helping marketers to gauge deeper into the performance of their spends, gets the biggest share of the marketing budget.?

Fortunately, the Indian OOH industry has progressed widely where the specialist agencies and leading media owners can back their media plans and media formats with some nature of figure to demonstrate the performance of their plan or media. However, the individual effort to present approximate figures along with plans and reports hasn’t really paved the way forward for the industry per se as the overall brands’ spending remains constant in the OOH medium. Thus, the important question arises: what is lacking in the Indian OOH industry vis-a-vis other leading advertising channels?

Let’s find the initiatives invested by other leading advertising stakeholders that got them a lofty share of budgets with their respective offerings in terms of measurements.?????

Broadcast Audience Research Council (BARC) India is an industry body set up to design, commission, supervise and own an accurate, reliable and timely television audience measurement system for India. The industry body having stakeholders bodies that represent Broadcasters, Advertisers, and Advertising and Media Agencies offers Data and Insights that powers efficient media spending and content decisions in a highly dynamic and growing television sector. Likewise, INS stands as an unbiased long standing platform that acts as the central organization of the Press of India, an independent body that authenticates circulation figures of newspapers and periodicals in India. And for radio, the Indian Readership Survey gives detailed breakups of the listenership data based on listener profile, demographics, frequency and timeband are now available with radio channels.?

Talking about the biggest pie taker in the marketing budgets, Digital Marketing, the performances are marked on the basis of KPIs, CTR, Conversion Rate and etc underlined by the global platform Google Analytics benchmark giving a fair idea to marketers on the performance of their campaign which is regulated, and transparent.?

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Looking at the leading mediums, there is one thing in common- A Consolidated, Independent & Industry wide adopting measurement tool that vouches for by the industry stakeholders as well as brands.?

These consolidated independent bodies have given a common currency to the respective medium, fair performance reports and almost accurate figures that are believed to be far away from any personal vested interest.?

Now this important question arises: what is lacking in the Indian OOH industry vis-a-vis other leading advertising channels?

And it is the biggest thing missing in the Indian OOH industry, a consolidating body that independently backs the industry with proper data, audience profile and other parameters that marketers have been longing for a quite long time.?

So before you present your plan or media format to any advertising, just think, is there any industry based recognized tool, body or association that offers common currency to push the efficacy and reliability of your business?

Noomi Mehta ?Alok Jalan ?Anant jain ?Narayanaswami Shekhar Prakash Arts Pvt. Ltd. Rachana Lokhande Pawan Bansal Media4Growth?Jahan Mehta ?Pramod Bhandula? ?Shailender Luthra ?VIVEK LAKHWARA ?Sam Balsara ?Dipankar Sanyal ?Atul Shrivastava ?Abhijit Sengupta ?gour gupta ?Promita Saha Khan Kanan Modak? Sreedhar A R Sunil Kutty Menon Manesh Kumar Devesh Mittle Mangesh Borse Sunil S Maheshwari Ajaz Memon Kalpesh Vora Pranay Shah vishal shah Yashraj Gala Times OOH Amul (GCMMF) Pavan Singh Parle Agro Pvt Ltd Nadia Chauhan Mondelēz International Anil Viswanathan HIndustan Unilever Prashanth Venkatesh Colgate-Palmolive ?Anand Taparia Nestlé Pallavi Anand??

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