Tuesday, April 24, 2012

Does This Mean The Click And The Impression Are Finally Buried?

An advertising study was released today by comScore, Inc and Pretarget (an intent targeting company) that states that ad viewability and hover time are more strongly correlated with purchases and requests for information than clicks or total impressions.

These conclusions were based on 263 million impressions over nine months and involved 18 advertisers.

It seems that most advertisers are currently doing it all wrong – buying mass impressions and hoping for conversions – the so-called “spray and pray” method.  What they should be interested in is hover time.

Now let’s take this logic over to commercials rather than banner ads.   What do we have?

The so-called “hover time” becomes measurable as “view duration”.  Logic would seem to indicate that the longer the view duration, the greater the chance of conversion.

So instead of just asking their media agencies how many impressions they’ll get for their $10M media buy, advertisers should also be asking how much time spent/involvement with their commercials they got for that same $10M.

As comScore’s and Pretarget’s reseach seems to indicate, it’s the latter that will be the most revealing.

As readers of this blog know, we’ve been saying for some time now that the formula for success has changed.  

While it used to be share of voice = share of mind = share of market, the new formula for commercial success is as follows:
           
Share of time = share of mind = share of market

We did not underwrite comScore for this study.  

Perhaps we should have.

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