In a recent survey, 80% of publishers have said that they are interested in selling their advertising inventory according to time-based metrics rather than impression-based metrics.
The obstacles are three-fold:
1. Lack of standard metrics and measurement methodology.
2. Lack of research showing that time spent with the brand correlates to an ad's effectiveness.
3. Lack of marketer and ad agency interest.
As for number 1, that is changing dramatically on a daily basis. And this standardization of methodology will only further speed up as advertisers continue to show increased interest.
As for number 2, I don’t know what to say? I guess there are still people out there who believe that there is no difference to the brand between one second of exposure and 10 seconds of exposure.
There will always be deniers to any new methodology.
As for number 3, this agency lack of interest is the most interesting. For the simple reason that agencies will soon be paid based on the amount of consumer time spent that they procure for their clients’ brands.
The more time consumers spend with the brand, the more money the agency will make.
As well, commercial production costs will soon be based on the amount of time people spend watching the commercial, rather than the amount of time the agency and production company spent creating it.
Instead of agency time-sheets, this new methodology will allow advertisers to pay their agencies based on viewer time-sheets.
If you want get an agency’s interest in something, base their projected income on it. More and more, that will be time spent with the brand.
The consumer’s time.
Not the agency’s.
Ironically, while all this change is taking place, one thing remains the same.
Time is still money.
Advertisers are just finally acknowledging whose time it is that is truly most critical to their brand's success.