Monday, August 01, 2011

Data Is The New Creative

Rumor is that Google will soon announce a service for buying and selling data.

This only makes sense as data is the gold that everyone should be mining on the digital platform.

In the past, the only data points advertisers were interested in were impressions. How many viewers did they get at what cost.

But as everyone knows, impressions are becoming less and less impressive. If one wants to know how effective their advertising is, engagement, or how long a viewer is involved with a message, is critical.

This is a data point that is quickly becoming worth a lot of money to an advertiser. Which means it is quickly becoming worth a lot of money to the seller of this data.

What’s interesting about view duration data – and perhaps Google has already figured this out - is that it’s not media agencies that should be craving this new data point.

It’s the creative agencies.

The reason is simple. What can be measured can be monetized. Which means the effectiveness of creative can be monetized.

Advertisers are tired of paying for creative that isn’t creative enough to hold the viewers’ attention.

In the past, advertisers had no choice but to pay for the concepting and production of creative whether it was watched or not.

Today, they can pay for creative on a view duration basis. The longer viewers are engaged in the commercial, the more the agency makes for creating it.

The opposite also holds true.

Another way of looking at this is to say data is the new creative.

You would think companies like Proctor & Gamble would be getting week in the knees.

After all, from this point forward, failure will no longer be lucrative. At least, for their creative agencies.

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