Supply chain executives and entrepreneurs looking to help a thriving market segment on the brink of transformation might want to look to the online advertising industry. The industry has begun to put in place metrics that make sense of measurements. In fact, the Interactive Advertising Bureau (IAB), the Association of National Advertisers (ANA), and the American Association of Advertising Agencies (4As) launched a new initiative last week.
Making Measurement Make Sense aims to account for online ad processes and metrics. It will analyze digital measurements, define a common currency for measuring the number of times an ad appears online, develop standards for brand impact measurement online, and create an effective methodology for cross-media measurement.
The trade groups claim the "absence of a consistent approach to measuring and assessing the effects of digital media has resulted in a cacophony of competing and contradictory measurement systems, contributing to a complex and costly supply chain for the industry." There are no better experts than those moving electronics through the manufacturing supply chain to form a set of best practices based on experience.
I realized this recently when Aaron Goldman, CMO at Kenshoo, a search engine marketing platform company, suggested that I should seek out a career in product development. I told him that it's easy to see the missing pieces in the online advertising industry, coming from the technology industry and having written about the electronics supply chain, IT, and emerging markets.
To make a difference in another market supply chain, executives don't need to know the nuances of the online advertising industry. They only need to share their expertise and knowledge. It's similar to the way students from around the world come to the United States to get an education.
With a US education and new skills, they're returning home to start Web-based or Groupon-like businesses like SnapDeal in India. This is good for their native countries. In fact, it's great when you can bring what you've learned from one industry or country to another.
The Making Measurement Make Sense initiative will assist the online advertising industry to measure digital and cross-media platforms -- display, video, and search engine marketing -- and follow and connect with consumers in target markets. Supply chain executives can share their knowledge to help transform a Web-based supply chain. Where can your expertise help?
A hearty round of applause from me on this issue. I think there are some very astute marketing managers out there who really get the value and potential of a consistent online presence. There are many more I fear who don't, and no matter how many times you show them the hit/click/visitor metrics, there's an aberrated belief that the traffic was meaningless because the phone didn't ring. To me that's an indication of a serious lack of understanding of the audience and that's where marketing leaders need to be dauntless.
Thank goodness someone is trying to do this. As for the supply chain, if there is one thing it does well is track stuff--at least in distribution. But hardware is one thing--impressions are another. I've always had a problem with this abstract so some kind of yardstick is crucial. Rock on, measurement people!
Yes, they will monitor where ads get targeted, as well as the frequency. When it comes to measuring the effectiveness of an online ad, you ask a huge question. Yes, they will monitor the influence. Companies do it now. Your browser, tags in ads, and website frame tags already monitor every click and movement people make online. There's targeting, retargeting, and behavioral targeting. Heat maps that estimate the content someone viewed and for how long, and what they clicked on or didn't. If you look at the browser window toward the left bottom of the page every time you click on something while on a website you can see where the information is sent. Try it. Go to your favorite website and watch the data being sent to third-parties in a stream of website tags that might read: www.facebook.com or www.ad.adbrite.com. The data also tells you the ad serving platform that won the bid in real time to serve up the ad to you.
It sounds like this could be an interesting, and somewhat challenging, project. Will they be monitoring where the ads are targeted, as well as frequency of viewing? How will they be able to measure the effectiveness of an on-line ad?
It sounds like a great idea, applying their knowledge to improve results and achieve harmony in place of a "cacophony of competing and contradictory measurement systems" (I love the alliteration in that phrase).
EBN Dialogue enables and encourages you to participate in live chats with notable leaders and luminaries. Not only editors and journalists, but the entire EBN community is able to comment and ask questions. Listed below are upcoming and archived chats.
Archived Dialogues
Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Euro-Crisis: What It Means for High-Tech Firms Join EBN Editor in Chief Bolaji Ojo and Contributing Editor Jennifer Baljko on Thursday, July 12, at 10:00 a.m. EDT for a Live Chat on high-tech and Europe's economic difficulties.
Microsoft Surface: Potential Winners & Losers What are the implications for the electronics industry supply chain of Microsoft Corp.'s decision to launch its own tablet PC? Join industry veteran and EE Times' systems and OEM expert Rick Merritt on Tuesday, July 3, at 12:00 pm EDT for a Live Chat on this subject.
Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
While no one really can accurately predict the future, we can take guidance from another Drucker saying which is the best way to predict the future is to create it.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.
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