Needed: Courageous leaders like Oakland's 2002 general manager, Billy Beane; new SOW metrics; and a revised concept about what creates success in client-agency relationships.
Love this analogy! Part of the issue is a need for new metrics that reflect the brand reach of a campaign. (No idea how you do this)
The other issue is, the folks currently hocking metrics are doing so entirely for their own gain. Be it media programmers, web seo, or retail media. All of those metrics operate under the assumption that more media, more seo, more retail media results in more ROI. Which yes, there is a relationship between more and more.
BUT- there’s also something much more tangible which isn’t being tracked.
For example. More spend on web, for say a ‘poor creative campaign’ will still ultimately increase exposure and have some kind of residual effect on effect on sales. Because more is more. BUT, say more spend on web, for a ‘great creative campaign’ and you could very well get a huge upspike in sales for the same price of exposure.
So yes. Completely agree. Something more tangible needs to be tracked by somebody. If not, for at the very least, so the brand hockers have something to compete with- with the folk hocking every other advertising service.
Fantastic parallel, Michael!
Love this analogy! Part of the issue is a need for new metrics that reflect the brand reach of a campaign. (No idea how you do this)
The other issue is, the folks currently hocking metrics are doing so entirely for their own gain. Be it media programmers, web seo, or retail media. All of those metrics operate under the assumption that more media, more seo, more retail media results in more ROI. Which yes, there is a relationship between more and more.
BUT- there’s also something much more tangible which isn’t being tracked.
For example. More spend on web, for say a ‘poor creative campaign’ will still ultimately increase exposure and have some kind of residual effect on effect on sales. Because more is more. BUT, say more spend on web, for a ‘great creative campaign’ and you could very well get a huge upspike in sales for the same price of exposure.
So yes. Completely agree. Something more tangible needs to be tracked by somebody. If not, for at the very least, so the brand hockers have something to compete with- with the folk hocking every other advertising service.
Actually I came across this today, the "creative index" launched by WPP
https://lbbonline.com/news/wpp-launches-the-creative-capital-index-to-measure-the-value-of-creativity