Ad measurement has a critical role to play in media buying, optimization, and planning. The competition in ad measurement particularly video ad measurement is continuously increasing. With the increase in competition, it is also highly likely that the digital advertising industry is going to achieve its goal of a cross-screen solution. However, the question that needs to be addressed is “what challenges is the industry facing in ad measurement? and “How is everything regarding ad measurement going to change in 2022?”
According to the key stats, the number of US advertisers who are satisfied with different types of ad measurement is not even more than 50%, as of April 2021. When it comes to digital video ad measurement solutions, only 38% of US advertisers are satisfied with the results.
The stats depict that it is quite challenging for advertisers to acquire common standards to measure the ad performance effectively. However, they need to stop compromising on the measurement of advertising campaigns and instead use it to drive their businesses. It should be among the most important goals of 2022 for every advertiser. The digital world is constantly evolving, so the advertising industry must make sure that it makes the best use of ad measurement to future-proof its operations.
Here are a few of the most common challenges mentioned that advertisers need to overcome to make ad measurement effective.
A Cookie-Free Digital World is Hard to Operate
The cookie-free digital world is going to make it quite difficult for advertisers to measure the performance of their advertising campaigns. It has limited the access to the private data of the consumer on which advertisers used to base their decisions. Now, since the digital world is going to be cookie-free, it adds to the challenge of insightful ad measurement.
This way, the advertisers will never understand the customer journey and the return they should expect to receive from their advertising campaigns. They will only get the lump sum amount of their ad spending. However, if they look at the brighter side, they would see the potential for a clean room as well where the personal data of a consumer is not shared with the third party.
Privacy Concerns Have Changed the Dynamics of Digital Ads
Consumers are having privacy concerns that have changed the dynamics of digital ads completely. New privacy policies and restrictions have been introduced to meet the expectations of the consumers. It has had a huge impact on the way advertisers measure advertisement campaigns. Since personal data is now limited, businesses are facing a hard time measuring their ad performances across multiple channels accurately.
The Increase in Traffic and Competition in the Digital World Is a Real Challenge
With every passing day, more and more companies, brands, and organizations are shifting to the digital world. The increase in competition further results in an increase in demands and higher costs. Now, the companies will have to invest a significant amount of money to measure the performance of their digital ads.
Moreover, a lot of marketers have ended up hiring inexperienced agencies this year as the industry booms. This way, it becomes even more difficult for them to fulfill the purpose of evaluating and measuring ad performances.
The Lack of Resources Allocated for Marketing Can Be Troublesome
Another challenge advertisers are facing in measuring the performance of their ads in 2022 is the lack of resources. They get data from their consumers from multiple platforms to get a detailed insight into the conversion rate of their ad which can further affect the evaluation process of measuring the performance level of ads. It is highly likely for them to mistakenly consider the single conversion multiple times because of the low resources. It can result in inefficient estimation or allocation of budget. So, the lack of resources can turn out to be a complex ad measurement challenge.
How to Overcome the Challenges of Ad Measurement 2022
If you are one of those advertisers who are wondering how to overcome the challenges of ad measurement, this one’s for you. So, don’t stop here, keep reading.
After having a detailed review of the challenges, you should move forward to find an effective solution to every obstacle that comes in the way of ad measurement in 2022. As an advertiser, you must be able to predict the changes beforehand to adapt to them quickly. For years, advertisers have been relying on agencies to get the accurate measurement of ad performance. However, with the sudden changes in the digital world like privacy policies and a cookie-less future, the accuracy of ad measurement is being compromised.
It is not just Facebook or Google that advertisers need to move their budgets away from but any other online platform available. Every advertiser must find a way forward to get a proper system of ad measurement in 2022 that is independent of any platform. It would further enable them to adapt to whatever changes the future holds.
Instead of force-fitting the old methods of ad measurement into the new digital world, it is high time to find new methods and create new products while anticipating what is going to happen next. There is no way of seeing into the future, but one thing is for sure if you keep on doing new things with old methods, like a lot of other advertisers, everything is going to collapse sooner rather than later.