KEY TAKEAWAY: Online ad fraud is shaking the online advertising industry at a time when advertisers are pouring a ton of money into the channel. However, what’s been overlooked is that the creative for most online ads is horrible. If pharma marketers want to lower the risk of online ad fraud and improve metrics they have to do two things: ditch programmatic and improve online ad creative.
According to a Nielsen Catalina study the most important element of any ad is…creative. However, you should remember that TV commercials that “entertain us” might have great recall, but won’t necessarily turn your prospects into customers.
We tend to think of advertising as an incredibly stable industry. Ad expenditures rise and fall with the economy, but have hovered around 1.5% of GDP for nearly a century. But we stand at a critical juncture. People are splitting their time among more media platforms than ever before — TV, of course, but also digital, mobile, radio, over-the-top, social, magazines, etc. — and thousands of new brands are launched every year to compete for attention and hard-earned dollars. It’s become an enormous jigsaw puzzle for advertisers to reach consumers.
The study by Nielsen and Nielsen Catalina Solutions (NCS) is based on two new meta-studies and more than 10 years of experience linking advertising to sales results. The project was created to prove that advertising not only works, but works well, and can be as accountable to sales as other elements in the marketing mix . Promotion, for instance, had been gaining much traction until the last two years, when the tide was stemmed and advertising began to regain a small bit of share back. If the ad industry wants to really grow its share in the mix, it needs to demonstrate a strong return on investment and the ability to capitalize on the latest tools, technologies and best practices.
Creative is always an important element in ANY advertising, marketers however need to also focus on the path between awareness/reach and purchase . For example, once a prospect becomes aware of a new flavor of snacks they probably will try the product on the next trip to the market as opposed to an ad for a new car which will lead to a lot of online research before a purchase decision is made.
While reach is a key metric in any advertising too many brands don’t subscribe to effective reach . The mindset of “we have to be on the air” actually could backfire, especially in an age when consumers can google your brand and get negative reviews (i.e. Liberty Mutual).
Marketers also need to be aware that more and more people are cutting the cord and time shifting to get away from ads as well as costs. The rise of ad blockers on browsers should be a wake-up message that consumers are tired of seeing ads.
Originally published at worldofdtcmarketing.com on October 30, 2017.