The 2024 ANA Measurement and Analytics Conference in Chicago explored how advertising directly impacts business growth. Industry leaders delved into the latest methodologies for enhancing and measuring campaign performance. Topics ranged from inclusive representation to mastering the complexities of retail media, offering clear takeaways for marketers and agencies alike.
Inclusive Representation in Advertising: Beyond the Surface
Inclusive Ads Deliver on Business Impact
The conference kicked off with a compelling presentation on the importance of accurate representation in advertising. Using the Gender Equality Measurement (GEM) score as a benchmark, research showed that ads accurately depicting women—especially from diverse backgrounds—drive significant sales growth. Campaigns with high GEM scores delivered up to a 10x increase in sales for older millennials and a 9x boost for Gen Z. These results highlighted that inclusive representation resonates beyond just the featured group, creating broader “allyship” effects across demographics.
Implications: Marketers must be deliberate about authentic representation in their ads. Avoiding stereotypes and depicting real-life diversity can lead to higher returns and stronger consumer trust.
Data Quality Standards: Garbage In, Garbage Out
Why High-Quality Data is Non-Negotiable
Throughout the conference, the focus on data quality was paramount. Whether measuring campaigns through Marketing Mix Modeling (MMM) or planning retail media strategies, the consensus was clear: data quality directly influences campaign outcomes. Without transparency and clean data, even the most advanced models fail to deliver. As advertising becomes more complex, especially in programmatic environments, ensuring data accuracy is critical.
Implications: Both brands and agencies need to invest in data standardization and auditing processes. Prioritizing transparency, particularly in programmatic advertising, helps reduce ad fraud and improve measurement accuracy. Quality data ensures that media dollars are optimized for maximum effectiveness.
Measuring Incrementality: The Shift from ROAS to True Impact
Marketing Mix Modeling Evolves
The growing demand for measuring incrementality over traditional metrics like ROAS (return on ad spend) was a significant point of discussion. In an era where retail media and multi-touch consumer journeys are becoming more complex, determining the incremental lift that an ad delivers is more important than ever. This shift requires more advanced attribution models. Understanding that no data set is perfect and rarely 100% complete, advanced techniques, such as the use of synthetic data, can help fill in gaps for greater agility while maintaining data integrity. No matter what approach is taken, data fidelity is essential for accurately assessing the true value of marketing efforts.
Implications: Marketers should move beyond focusing solely on last-click attribution and shift toward measuring the full, long-term impact of their efforts. This transition involves adopting third-party validation tools, educating teams on incrementality, and continually refining models to ensure they reflect real-world market conditions.
Brand Equity: The Long Game in Business Growth
The Enduring Power of Brand Strength
The importance of measuring brand equity over the long term was a major takeaway. Brands that had previously focused solely on short-term sales are now incorporating brand strength into their models. By understanding the long-term impact of brand-building efforts, businesses can better align their marketing strategies across channels, ensuring sustained growth over time.
Implications: Marketers should take advantage of both short-term gains and long-term brand-building initiatives. Incorporating brand strength into models allows businesses to make more informed decisions by balancing lower-funnel tactics with upper-funnel investments for long-term business growth.
Retail Media: The New Frontier of Complexity
Navigating the Retail Media Revolution
Retail media has emerged as both an exciting opportunity and a complex challenge for marketers. With the retail media market expected to grow by $75 billion in the next four years, brands must navigate issues like inconsistent measurement and higher costs compared to traditional media. Accurate measurement of incrementality, transparency, and data cleanliness were all emphasized as crucial for maximizing the value of retail media investments.
Implications: Brands must adopt a more integrated planning approach to retail media, ensuring that efforts span across the full funnel, from search to in-store activations. Agencies should guide brands in selecting the right partners and prioritizing transparency in performance metrics.
Conclusions
As Bob Liodice, CEO of the ANA, emphasized, “If you want it, measure it. If you can’t measure it, forget it.” In an era where data is more abundant and sophisticated than ever, the marketers who prioritize advanced measurement techniques will be the ones driving business growth and brand relevance. For marketers, the message is clear: optimize your measurement strategies, stay adaptive, and continually refine your approach to ensure your efforts are moving the needle in a significant and quantifiable way.
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