THIS IS CRAZY – OVER 50% OF ONLINE SPEND IS WASTED. HERE’S A FIX…
This Is Crazy – Over 50% Of Online Spend Is Wasted. Here’s A Fix…
“Half the money I spend on advertising is wasted; the trouble is, I do not know which half.”
Remember this quote by famous American entrepreneur John Wanamaker? Imagine if someone told John which half was wasted and worked with him to recapture those wasted dollars. Do you think John would be grinning from ear to ear?
Well, you may be too, in a moment…
First, you will probably be shocked to learn that even though it’s been many years since John Wanamaker uttered those famous words, we seem to be repeating history. A recent independent analysis supports our own findings: more than half of all ad spending on digital marketing is being wasted. It’s more surprising that most marketing directors don’t even realize it.
We’ll explain how you can avoid this common problem and how you can actually create a competitive advantage from it.
But first, here’s the scoop…
According to recent research from comScore, up to 54% of digital display (banner) ads served on publisher sites were never visible to a site visitor. Yet, since impressions were served, publishers expect to be paid.
Read that again carefully with a different lens: up to 54% of your digital display media budget is flushed down the toilet and never had a chance to increase awareness of your product! You paid for a service that was never received.
The Case Study: Improved Viewability To 85% From 40%
Using the IAB standard definition of viewability (minimum 50% of pixels in view for minimum of one second), we recently worked with one of our key clients to improve their digital ROI. As a baseline, we conducted a Viewability Assessment and determined this client had a viewability rate of roughly 40%. That means 60 cents of every dollar was spent on absolutely nothing!
Using technology, process and monitoring, we were able to increase their viewability rate to over 80%. Aside from the obvious expanded reach of their digital ads, this jump in viewability resulted in over $6MM in digital marketing spend recovery and reinvestment. In essence, we increased the reach and impact of their digital campaigns, without incurring any additional spend.
How’s that for results? Imagine what you could do with twice the ad spend? Our client achieved such an impressive result, she was highly recognized and has since been promoted to implement a similar strategy globally across all of the client’s brands.
Marketers typically solve the viewability problem in one of two ways. The first option is to pay more for premium ad placement on the page, usually above-the-fold. That’s what the publishers would like you to do and that does not necessarily guarantee results. Bidding wars are expensive and budgets are limited.
The Solution: Easy Steps You Can Do Now
Savvy marketers change this dynamic by only paying their publishers when a human sees the ad.
We feel the solution is not to spend more money, but rather only pay for what you get. If you’re curious about your own digital ad viewability, here’s what you should do…
Go to the top three or four sites where you know your ad is running and see where your ads appear. Are they appearing on screen, above-the-fold? If they are displayed front and center, don’t assume the location of your ad is guaranteed. Because of daily bidding wars, tomorrow, your ad could be at the bottom of the page – and never get seen.
After you have checked things out for yourself, ask your digital agency these three questions:
- How often are my ads appearing above-the-fold?
- How are we continually and consistently monitoring ad placements?
- Can I receive a regular report showing what percentage is above versus below-the-fold?
Chances are these will be difficult questions to answer.
Although measuring viewability sounds simple, tracking and monitoring it is not easy. You need the right expertise to measure your viewability rate correctly. Additionally, simply buying another tool will not solve the problem.
What’s needed is reliable analytics data combined with independent insights and experience to determine how to increase your viewability rate without spending any more of your ad budget.
At Encima, we have a proven process to accurately assess viewability rate as well as best practices to ensure your viewability rate remains above average.
Call today or click the button below for a complimentary, no-obligation Quick-Start Viewability Consultation. We’ll quickly analyze your digital viewability at no charge and recommend an action plan. This will help you recover more of your ad spending to deliver a better ROI.
With results in as little as 2-3 weeks, you will be grinning from ear to ear – just like John Wanamaker would have!