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.
Last month, immigrant entrepreneurs in Silicon Valley described how they were being forced to return to their native countries as a result of being unable to get a visa to allow them to stay in the United States, even after graduating from a prestigious school like the Wharton School of the University of Pennsylvania.
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?