On Pancake Day, Tuesday 28 February over 200 people from agencies and publishers gathered at 30 Euston Square for a conference on industry audience measurement.
The theme of the event was AMP: Transforming Industry Fortunes. Jan Gooding, Chair of PAMCo and senior client at Aviva and PAMCo CEO Simon Redican challenged all those present to ensure that they use the new AMP currency when it launches in February 2018 and also to ensure that they spent 2017 ensuring that their businesses would be “AMP ready”.
The event began with a speech from Frances Ralston-Good, CEO of new media agency Hearts and Science. Frances provided great context for the day by outlining the communications planning framework within which AMP data would be used. In a telling and memorable phrase, Frances pointed out that “revenue follows insight”.
This set up a presentation for PAMCo CEO Simon Redican which majored on the commercial uses of AMP and the opportunities for agencies and publishers to use the currency for new planning and trading approaches, with a view to increasing industry revenues.
Simon outlined the PAMCo methodology which is a combination of the latest passive digital measurement techniques and the best of tried and trusted high quality face to face samples. 35,000 random probability interviews will recruit a GB representative sample and get insight into demographics and print readership. Having done this, interviewees will be asked to download software which will passively measure their online consumption of published media brands. This data will provide single source information on how people move between brands and will give a good measure of duplication. This is then applied to UKOM approved, comScore digital audience estimates to give a single picture of brand reach across platforms.
Redican highlighted that the key benefit of the new approach would be the ability to do reach and frequency planning across all platforms, something which is not possible in NRS. He also outlined that a real boon to agencies and magazine media would be the huge increase in brands measured on all platforms with an increase from 28 brands on NRS to over 90 on AMP. This figure was also not capped and as long as a brand achieved a sample threshold on each platform it could be measured in AMP. Other benefits included daily, weekly and monthly audience estimates and more coverage of advertiser websites, as well as a brand first approach which would provide more accurate readership estimates.
Redican concluded with a challenge for publishers and agencies to do different things which the new currency allowed. To use AMP for marketing, for strategic and implementation planning and for trading. New planning and trading approaches were possible, such as ratings. New structures could help to make the most of AMP and clearly signal the offering of audience packages to build brands, underpinned by AMP coupled with performance marketing teams using proprietary measurement tools for short term activation. He also urged the audience to not simply delegate responsibility for AMP to research and insight teams. To make a real difference AMP needed to be used by commercial staff and Redican suggested each company should appoint an AMP Commercial Champion.
A lively panel debate with commercial and research specialists from the industry and Ipsos and comScore the AMP research partners followed. The commercial leads were clear that AMP opened up many exciting commercial possibilities Duncan Tickell of Immediate Media was enthusiastic about AMP’s ability to allow publishers to properly commercialise the large cross platform audiences they had built up and in the case of mobile were not able to properly monetise using AMP.
Adam Crow of Mediacom agreed that AMP wasn’t a magic wand, but it went a long way to giving agencies the planning and trading capabilities for the sector which were long overdue.
PAMCo Chair Jan Gooding summarised the event by re-iterating than AMP would only be a success if all sections of the industry from publishers and agencies to research and commercial teams used AMP in new and innovative ways. She made a powerful point that the industry had designed and paid for this new currency and if they didn’t believe it was of high quality and transparent why should advertisers? A final point was that 2017 was a propitious time to be launching a new industry currency. Trust is at the top of the industry agenda and new Joint Industry Currencies like AMP are accountable, objective and transparent.
If you couldn’t make it to the AMP Update in February, we are happy to come in and present to you and your team. Please contact Alison or Daphna to arrange a suitable time.
Alison Finch – email@example.com
Daphna Joseph – firstname.lastname@example.org