Better Advertising Effectiveness Measurement
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This deck introduces the ABX ad testing system, a paradigm shift in how companies can evaluate their paid and pre-test media. Their model conforms to the rules of faster, cheaper, deeper and better.
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Better Advertising Effectiveness Measurement
- 1. Better Measures of Advertising Effectiveness 1 ABX Advertising Benchmark Index
- 2. “Half the money I spend on advertising is wasted; the trouble is, I don’t know which half.” John Wanamaker, 1838-1922, the father of modern advertising A Paradigm Shift from an Age- Old Problem to Current Day Solution! 2
- 3. THE PROBLEM Finding out Which Half Works 3
- 4. In the early days of advertising, 90% of America was reached by just a few networks. Nearly all ads were tested to protect investment. Today, less than 2% of ads are tested. In Wanamaker’s Day, the Problem had just Begun 4
- 5. In Today’s World, Billions of Dollars go down the Drain Because 98% of ads are Untested According to a study by Proxima Consulting in 2015, “up to 60% of global marketing budgets are being wasted every single year!” 5
- 6. Today’s Ad Landscape is Messy; Most Ads are Wastefully Underperforming Good Ads Underperforming Ads ABXCreativeScoreIndex
- 7. The Explosion of Media Channels and Creative Produced has led to Woeful Ignorance 7
- 8. THE SOLUTION There must be a way to fix this! 8
- 9. Is there an Answer? 9
- 10. Imagine if? • You could test ALL ads in ALL media from ALL competitors? • You would know how any ad performed in just 24-48 hours? • You were provided with the tools & insights to improve the creative effectiveness of your ads on an ongoing basis? 10
- 11. & What if? • You could achieve all of this at significantly reduced costs? • You could link ad test scores to in market sales and revenue via marketing mix models? • And you could predict the outcome of your ad placements, in real dollars & cents? 11
- 12. Changing the Paradigm – the ABX Creative Improvement System • 100,000 normative ads for creative brainstorming • 24-48 hour low-cost Pre-tests enables revisions & retests Stage One Creative • In-market Post-Tests on ALL client and competitive ads across ALL media are measured • Results enable media plan refinement and MMM Stage Two Creative Benchmarks • Continuous in-market tracking measures success • Quarterly deep-dives provide additional detailed insights Stage Three In-Market Tracking
- 13. The Interviewing Experience – 40% Better • Interviews collected using ABX patent-pending visual ‘ocular’ survey system. • Improved ‘interviewing experience’ leads to greater engagement vs traditional “text based” surveys. • A vastly improved data collection process which reduces a lot of the cost 13
- 14. What ABX Measures ▪ 14 key inputs ▪ 2 consumption metrics ▪ Level of category usage (Frequent, Regular, Occasional, None) ▪ Level of media consumption (all media; same frequency breaks) ▪ Geographic data ▪ 4 census regions ▪ Demographic data ▪ Gender, Age, Education, HHI Brand Linkage (Ad Recall) Clear Benefit Feel About Advertiser Better Worse No Different Relevant Like to See Again Contact Company Awareness Messaging Reputation Relevant Likeability Call to Action Easily Understood Like Visit Website Look For Product Purchase Product Recommend Product Talk to Someone About it None/Any ABX Data is comprised of Dislike Awareness Messaging Reputation Relevant Likeability Call to Action ABX Data is comprised of Awareness Messaging Reputation Relevant Likeability 14
- 15. Note: • “Reputation” is net of “better” minus “worse” • “AnyAction” is one or more calls-to-action, highlighted in yellow • “Blue” data is included in The ABX Index • The ABX Index correlates MMs • ABX data correlates with legacy testers • ABX Index is customizable based on factors that correlate w/client needs. ABX Index ABX ID Advertiser ABX Index Brand Linkage Clear Benefit Easy to Understand Reputation Any Action Contact Company Visit Website Look For Purchase Recommend Talk to Someone Relevant See Again Like Dislike Vs. All Ads 127 120 110 111 156 142 59 101 184 211 103 80 160 130 82 31 Vs. Category 116 109 107 107 146 125 61 76 139 217 100 81 142 123 85 37 Vs. Medium 131 117 115 118 169 148 60 98 187 227 113 88 168 142 91 33 101212197 The Advertising Benchmark Index (ABX)
- 17. Case Study: Quick Serve Restaurants 17 Case Study: Quick Serve Restaurants How Your Company can Reclaim the Waste
- 18. 18 All Ads Normative Digital Ads Print Ads FSI Ads Where does your brand stand versus peers & competitors?
- 19. 19 All Ads Normative Radio Ads Outdoor Ads TV Ads Where are your brand’s strengths, weaknesses, opportunities & threats?
- 20. Strong performers Weak performers $47 million opportunity through ad substitution 20 Digital Ads Print Ads Radio Ads TV Ads Outdoor Ads FSI Ads The ad inventory is immense & daunting! (>100 ads) We measure it all, on your desktop in 24-48 hours
- 21. Highest-Scoring TV – 30s 21
- 22. Lowest-Scoring TV – 15S
- 26. Financial Opportunity - $47 Million A Fast Food Company like McDonald’s can see which ads are resonating with ABX. Creative effectiveness is improved $47 million annually by substituting “average” ads for “underperforming” ones. 26
- 27. IT ALL CORRELATES Market Mix Models and Predictions become Possible 27
- 28. In the ideal world, spend on an ad-by-ad basis would align perfectly with ad sales lift, but this is not the case. In fact, it is most often highly inefficient and wasteful! R² = 0.1138 0 20 40 60 80 100 120 140 160 3 5 7 9 11 13 15 SPENDPERADSQRT Ad SALES LIFT SQRT 28
- 29. However, ABX has proven to align and correlate extremely well with individual ad sales lifts. This provides a great resource for allocating marketing funds across individual ads! R² = 0.5527 4 5 6 7 8 9 10 11 12 13 3 5 7 9 11 13 15 ABXINDEXCREATIVESCORESQRT AD SALES LIFT SQRT Using the ABX metric to allocate media budget by ad would have generated + $21MM (2%) in incremental revenue for this Brand. 29
- 30. The Importance of Ad Creative 30 Baseline Store Promotions Short-Term.Media Spend Short-Term.Media Creative Long-Term Media Media Creative is 60- 80% of the full ad effect
- 31. It’s 3 p.m. on Wednesday. The CMO of the world’s largest retailer needed feedback on which of 3 ads to run by Friday. ABX tested the ads and served a recommendation of a spot which scored 20% stronger than the other ads. Ad selected and ran that weekend! The creative staff of a major beer brand utilized consistent messaging across out-of-home, online video, and radio. But while online video and out- of-home were performing well, ABX benchmarks for the radio ad showed this ad was underperforming. ABX comparative data further revealed that the most effective radio ads in their competitive set used simple voiceover with minimal background effects. The radio ad was remixed, simplifying the presentation. With no change in copy, the insights delivered by ABX improved the remixed radio spot 68%. One of the world’s largest retailers wanted to place a new symbol/logo on all of their ads, but was concerned of possible detrimental impact on their reputation. ABX tested the concept within one week and had the assurance that this move would actually improve the effectiveness of their ads. Mini Case Studies 31
- 32. All Data and Insights Delivered in Real-Time Access On the Desktop: Mobile: 32
- 33. All Creative Data with Easy-to-Use Filtering Tools
- 34. If John Wanamaker could See us Now! • Insights on EVERY ad • Across ALL media types • Against ALL competitive ads • Single methodology for cross-media comparison • Robust metrics for market mix models and other • Complete feedback loop for creatives • Results in 24-48 hours • All for a fraction of what is charged by legacy providers 34
- 35. What’s Next & the Offer • We invite you to investigate yourself. Find out if what we claim is true. We are open to discussion. • We offer to show you “real & current” data on your own brands & categories. We can show you how your ads stack up versus peers and competitors. • Give us a call and lets arrange a no-obligation conference to discuss how ABX can change the paradigm and give you significantly better, faster and more complete feedback on your own advertising effectiveness. 35
- 36. Gary Getto President, Advertising Benchmark Index E: Gary@adbenchmark.com M: 347.443.8869 http://blog.adbenchmark.com Michael Wolfe CEO Bottom Line Analytics Global E: mjw@bottomlineanalytics.com M: 678.314.8446 www.bottomlineanalytics.com 36 Thank You!! Angela Jeffrey Vice President, Advertising Benchmark Index E: Angie@adbenchmark.com M: 347.443.8869 http://blog.adbenchmark.com Contact us for questions & further information Are you ready for something new that is quicker, cheaper, deeper in coverage and better?