The Waste Chronicles
Part 1 - Follow the money
Coca Cola, Nielsen and Max Verstappen. Three very different names – two of them renowned and worldwide brandnames and one new kid on the block. But they have one thing in common. Apparently, they don’t like waste. Waste in the sense of spending too much time and effort without having real impact.
We have prepared a series of four blogs in a row for you on waste in marketing strategy and about the difficulty in having true ad reports. But before we start our deepdive into the world of advertising metrics, we want to show you a short interview. It’s about this youngster from The Netherlands - who just doesn’t care who he can pass, he just wants to pass. In the video he explains why he was able to live with the complex conditions.
Obviously, we could have shown you all the overtakes of Max Verstappen in the GP of Brasil 2016, but we think this interview on his amazing race is the right trigger and energy booster to start our chronicles with. His reply to the final question went even viral: “Because I’m Dutch.”
Because we’re Dutch!
Mysocialdatabase is an expert in targeting Twitter audiences. And because they are Dutch they are straightforward like Max. And they certainly don’t want to have much waste in the campaigns they execute for their business relations. As you might know, there are quite a few verbials on the Dutch behavior whenever money is involved: Dutch gold, Dutch generiosity, Dutch Sandwich…. But let’s take the bright side of it: we just are very keen on our cost and spend.
Waste in marketing terms has been there for a very long time. Marketers always had difficulties in convincing their CEO about the effectiveness of tv and radio commercials. But the remarkable thing is that we still have to cope with the same waste discussion when using the social databases of today. Do you know what the exact impact is of your campaign on Facebook, Instagram or Twitter? All these stats on impressions, interests and click ratios don’t tell you whom you have actually reached. Despite your tailored campaign or selection of a specific audience.
What about Ad metrics?
Recently, some cases of misreporting of ad metrics were published on marketing platforms for Twitter and Facebook. Facebook also had its issues with inflated video advertising metrics. And there were more measurement problems on audience metrics reported.
This publication on AdNews on 12th December proves the complexity of the advertising market of today.
“There’s little logic and no commercial reality in running after audiences in channels where advertising is less powerful or effective. And there’s absolutely no commercial sense in funding these less effective advertising channels by diverting investment from those that are actually still working with immense power relative to the newcomers. It’s exactly the point made by Coca-Cola’s global CMO Marco de Quinto last week.
By Anthony Fitzgerald, CEO at MCN”
These two CMO’s appear to be fed up with all distribution channels and their metrics. They don’t care who it is, they just want to make the right overtake, so to speak and further to Verstappen’s gut feeling. They want to reach their customers without spending too much effort in interpreting tens of ad metrics. They just want to follow their money.
A very legitimate motivation. And therefore, we will explore more on the metrics of Mysocialdatabase in our next Chronicle.
Next week | Chronicle 2