Entropy leads industry-wide project to evolve econometric measurement

The initiative is being championed by the advertiser trade body ISBA and supported by the Out Of Home trade body Outsmart.

Project

We recognised that the way the industry measures OOH is out of date and often ineffective. For example, many econometric and MMM (marketing mix modelling) methodologies don’t take into account the way OOH viewability data and OOH formats have evolved significantly over recent years. Without accurate measurement, businesses are blind to the true performance of their marketing campaigns and marketing budgets are wasted.  
This led us to lead an industry-wide project to ensure that advertisers can measure the effectiveness and efficiency of different forms of OOH advertising. We identified and focussed our efforts on MMM measurement as a key area that could transform understanding of OOH effectiveness and efficiency for advertisers.

Outputs

Our ground breaking project uncovered that 8 out of 10 advertisers aren’t measuring OOH optimally. Two central findings from our project were:
  • When OOH is measured correctly it will likely perform better in MMM models
  • By measuring OOH correctly you’ll be able to optimise your plans to further increase OOH effectiveness
 
View our interview with Jonathan Wood, Head of Marketing Insight and Strategy at Money Supermarket, as he speaks with our Founder about the importance of measuring OOH correctly and data standards.
We’ve also put together a checklist summarising some other key actions advertisers can take to maximise the impact of their campaigns. Our recommendations provide best practice for advertisers but also ultimately constitute a change programme for the OOH industry. Request the checklist here.

Contact us to find out more

Outsmart is the UK’s Out of Home (OOH) advertising trade body

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